Expats in Mexico support themselves through a variety of means, leveraging their skills, remote work opportunities, and local business ventures.
Here are some common ways:
Employment and Business
- Remote Work: Many expats work remotely for companies based in their home countries. This can include jobs in IT, marketing, writing, consulting, and other fields that can be performed online.
- Teaching English: Teaching English is a popular option, especially in larger cities or tourist areas. There are opportunities in schools, language institutes, and private tutoring.
- Local Employment: Some expats find jobs with international companies that have operations in Mexico or work in sectors like tourism, hospitality, and customer service.
- Starting a Business: Many expats start their own businesses, such as restaurants, bars, boutique hotels, or offering specialized services like tour guiding, real estate, or wellness and fitness coaching.
NOTE: I have experienced all four of the types of employment. If you’d like to know more, please go to the contact page. I’d love to help. In my personal opinion, ideally an expat should not be competing for work with Mexicans. Most of my income comes from my small monthly Social Security retirement benefits.
Financial Management
- Retirement Funds: Retirees often live on their pensions or social security benefits. Mexico’s relatively low cost of living can make these funds stretch further.
- Investments: Some expats live off investment income, whether from rental properties, stock dividends, or other investments.
Cost of Living Adjustments
- Budgeting: Adjusting to the local cost of living and budgeting accordingly helps expats live comfortably. This often includes taking advantage of lower housing costs, affordable healthcare, and inexpensive local food.
- Learning Local Customs: Understanding and integrating into local customs and practices can lead to cost savings and a better quality of life. This might include shopping at local markets, using public transportation, and participating in community activities.
Legal and Administrative Considerations
- Visas and Permits: Ensuring the correct visa or residency permit is essential. There are various types of visas available, including temporary and permanent residency visas, which may allow for work or business activities.
- Banking and Finances: Setting up local banking accounts and understanding the financial system in Mexico helps in managing money effectively.
Expats often find that a combination of these strategies allows them to enjoy a fulfilling and sustainable lifestyle in Mexico.
