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CNBC article re Chapala Cost of Living


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From a slightly longer article on three places in Latin America to retire on social security alone.  I’ve no idea where this woman got her figures...but a lot of people might be surprised when they get down here... or try for permanent residency unless the income amount has changed with the dollar fluctuation.  Please feel free to correct me if I am wrong.

According to August 2017 data from the Social Security Administration, the average Social Security retirement benefit is $1,371 per month. Many Americans get professional help to plan their retirement, but in case you only have your Social Security to count on, there are retirement options just a few hours south of the U.S. border. In fact, in these three Latin American destinations, you can actually retire in comfort on Social Security benefits alone.

— By Claire Boyte-White, special to CNBC.com. Boyte-White writes about finance and investing for Investopedia
Posted 6 November 2017

Mexico

As our closest neighbor on the list, Mexico is a top choice for many retirees because it's not too far from home, which makes trips back to the States for the holidays or to see new grandkids relatively cheap. But Mexico has a lot more to offer than convenient proximity. To get residency in Mexico, you have to prove that you've received consistent monthly income, including Social Security benefits, of $1,300 (or more for permanent residency) over the past six months.

What's more, once your residency is approved, you can enroll in the Instituto Nacional para las Personas Adultas Mayores (INAPAM) program. Carrying this little plastic card entitles you to discounts on a huge range of goods and services — including health care, leisure activities, public transport, restaurants and airline tickets — as well as discounts on property taxes and water bills in some municipalities.

The lakeside town of Chapala has a thriving expat community, a near-perfect climate and surprisingly low cost of living. A one-bedroom apartment in the city center is just $148 per month, with utilities, Internet and cell service totaling $75. Groceries are similarly inexpensive, with a typical monthly grocery bill — including basics such as bread and cheese, meat, produce and a little extra tossed in for impulse items — can cost as little as $135. All in all, an average monthly budget in this sunny town including nights out, a gym membership and transportation comes out to just $675 per month.

 

 

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Not all of that included is close to true it says that internet at 60 Mbps or more is available in Chapala.  Not true.

It also says that Gasoline costs only $15.50 per liter. Also not true   I could go on. But much of the data posted in that link above seems very wrong.

 

 

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22 minutes ago, johanson said:

Not all of that included is close to true it says that internet at 60 Mbps or more is available in Chapala.  Not true.

It also says that Gasoline costs only $15.50 per liter. Also not true   I could go on. But much of the data posted in that link above seems very wrong.

 

 

Let's hope that potential retirees get better information before making plans!

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Numbeo is cited as the source for these figures.   A note on the Chapala page says there have been 9 different contributors of data in the past 18 months.  Even with so few data points, this seems highly suspect. According to the author's bio on Investopedia,, she writes regularly on retirement planning.  I am embarrassed that a network-related media site would "publish" such poorly researched work.  I don't see a way to comment there or to contact the writer. 

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I am reminded of a poster about a year back who had been advised by his "relocation expert" in the US that moving to Lakeside area was easy. I recall he had a host of medical problems and wanted to hire a whole entourage of people to look after him when he arrived- maids, gardeners, cooks, handymen, etc. plus a house with all the bells and whistles.

Doable, but certainly not easy, and not something one could put together within a few days of arriving. With no Spanish.

 

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20 hours ago, elisabeth said:

Numbeo is cited as the source for these figures.   A note on the Chapala page says there have been 9 different contributors of data in the past 18 months.  Even with so few data points, this seems highly suspect. According to the author's bio on Investopedia,, she writes regularly on retirement planning.  I am embarrassed that a network-related media site would "publish" such poorly researched work.  I don't see a way to comment there or to contact the writer. 

I just went to her Facebook page and left her a message.  Can also send an email to CNBC re the article.  Maybe if we all send the network emails or leave comments, they’ll do something about this?

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