The Economy of Moving: Texas Retiree Finds Cheaper Living in Mexico
Understanding the Impact of Lifestyle Choices on the Economy
After 35 years as a lawyer, Geary Bartmess III made a significant change at 60 by relocating to Puerto Vallarta from Houston. He aimed for a more fulfilling retirement, focusing on creative pursuits like writing. Bartmess represents a growing number of Americans opting for affordable retirement abroad. Current statistics show that over 34,000 retired American workers have migrated to Mexico, making it a top retirement destination, following Canada and Japan.
Economic Considerations for Retirement Abroad
Bartmess, who spent three decades in the oil and gas legal field, detailed his financial strategies for a successful retirement. By consistently saving and investing throughout his career—particularly from age 49—he accumulated enough funds to retire comfortably. His methods included sizeable contributions to his 401(k), stock purchases, and living below his means, which he credits for his preparedness to retire.
Cost of Living and Economic Adjustments
- Housing and Food: Significantly cheaper in Mexico.
- Gas Prices: Higher than in Texas, indicating potential adjustments for retirees.
- Savings and Investments: Essential for a secure retirement lifestyle.
Conclusion: The Shift in Retirement Trends
This move not only reflects Bartmess's personal choices but also echoes a broader trend of retirees looking for enhanced lifestyles at reduced costs amid economic uncertainties.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.