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Too young to retire!

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Guiness
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Luisa
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Rosa Venus
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Intercasa
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A/C Gypsies
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Post by A/C Gypsies Tue Jun 25, 2013 4:54 pm

I have often heard it said that if you desire something that eludes you or have a question you cannot answer, you need to "put it out to the universe".  While this forum is not the universe, it is a good place to start.

We (my wife and I) are in our mid forties and have moved to Mexico, permanently.  Lakeside was our first landing spot, and we enjoy living here a great deal.  We have a dilemma, however.

Though we scraped our savings together for eight years in preparation for the move, we cannot rely solely upon them to carry us through to when/if Social Security kicks in.  Our plan from the beginning was to find gainful employment so that our savings could remain untouched.  What we did not realize was just how difficult it would be to find work in the Lake Chapala area.

We need to "reinvent" ourselves.  Many ideas have been tossed around but to no avail.

Please put yourself in our shoes, and think about what you would do... we welcome your suggestions!  Surely someone out there knows of a much needed service that isn't currently being provided, or a specific niche that has not been filled.

I look forward to your suggestions and comments (but please, be nice)!

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Post by Zedinmexico Tue Jun 25, 2013 5:25 pm

Find a gringo problem and figure out how to solve it.

Example: People pay a fortune for electricity down here if they live a normal lifestyle with all
kind of electrical use like we do up north. Offer to update houses with modern CFB and other
higher efficiency products like water pumps. Search on DAC and CFE.  Offer to be paid out
of the electrical savings you provide. After you are paid than the savings go to the owner
or renter of the house. A very different cost model down her for electricity makes dramatic
savings possible.  While people down here will sell you solar panels. Most people can just
upgrade appliances over time to more modern units especially TV and Fridge and update
lighting to stay off the high cost of DAC pricing for Electricity.

I was going to do it as a job but decided to not work anymore. I have given you 80% of the
idea you have to figure out the rest. Hint sell them good quality energy saving gear like CFB
or pump motors  etc etc.  Maybe start an import export business to bring down new tech
stuff. You would probably need a Mexican partner for that. Go download a home power
magazine and learn the business. Nothing magical hear just some learning.



Z

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Post by halcon Tue Jun 25, 2013 6:20 pm

probably all sewed up, but caring for the elder perhaps ?
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Post by Pedro Tue Jun 25, 2013 6:32 pm

A/C Gypsies wrote:I have often heard it said that if you desire something that eludes you or have a question you cannot answer, you need to "put it out to the universe".  While this forum is not the universe, it is a good place to start.

We (my wife and I) are in our mid forties and have moved to Mexico, permanently.  Lakeside was our first landing spot, and we enjoy living here a great deal.  We have a dilemma, however.

Though we scraped our savings together for eight years in preparation for the move, we cannot rely solely upon them to carry us through to when/if Social Security kicks in.  Our plan from the beginning was to find gainful employment so that our savings could remain untouched.  What we did not realize was just how difficult it would be to find work in the Lake Chapala area.

We need to "reinvent" ourselves.  Many ideas have been tossed around but to no avail.

Please put yourself in our shoes, and think about what you would do... we welcome your suggestions!  Surely someone out there knows of a much needed service that isn't currently being provided, or a specific niche that has not been filled.

I look forward to your suggestions and comments (but please, be nice)!
you want help making money but have not specified where your talents lie.
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Post by sundown Tue Jun 25, 2013 6:38 pm

Any idea you have will have competition from Mexicans that will work for less.  Regard this venture as a nice vacation and return to work another period of time to prepare for retirement

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Post by Pedro Tue Jun 25, 2013 6:44 pm

sundown wrote:Any idea you have will have competition from Mexicans that will work for less.  Regard this venture as a nice vacation and return to work another period of time to prepare for retirement
lissen to this guy
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Post by zenwoodle Tue Jun 25, 2013 6:49 pm

Think of it this way. If you are doing work and earning money, then a Mexican is not.

Most of us came here to enjoy the Mexican climate and culture and hopefully give back to the community.

IMO you need to re-think your priorities and maybe return NOB to work. Beer
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Post by viajero Tue Jun 25, 2013 7:56 pm

What kind of skills do you have,do you speak Spanish,does your visa allow you to work here,do you have start up capital?

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Post by Intercasa Tue Jun 25, 2013 8:01 pm

Go get a real Mexican education and learn Spanish or else you will have to compete with the rest of the foreigners and locals who have little education that will help with a job here.  It sounds tough but you are young and time passes quickly.
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Post by CanuckBob Tue Jun 25, 2013 8:03 pm

I hate to say it, but part of your preparation should have been researching "money making opportunities for foreigners in Mexico". You would have discovered that there aren't any unless you have enough capital to purchase some rental property or something. I have a few friends that have told me they want to come down but will need to subsidize themselves with work. I tell them to stay home......
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Post by Traveller Tue Jun 25, 2013 8:33 pm

zenwoodle wrote:Think of it this way. If you are doing work and earning money, then a Mexican is not.
Unless, of course, you can start a new business that hires Mexicans, thereby increasing the employment opportunities for locals. That would be a win-win situation all round. Unfortunately starting a new business is always a challenge, especially if you are dealing with an unfamiliar culture and legislative environment. There have been many businesses that start up and melt away, sometimes very quickly. Do you have prior experience in starting and running a business? If not, this might not be the friendliest environment to pick up those skills. And how's your Spanish? Even if your business targets ex-pats, you will be dealing with Mexican rules and regulations.

Many in the ex-pat community can't speak Spanish and prefer to deal with other ex-pats, or at least with people who understand ex-pat culture and are fluent in English. So there may be a niche market in elder care for example. But keep in mind that even the least culturally adapted ex-pat will expect to access your NOB-quality services at Mexican prices!

There are some people here who make a living by providing services on-line, so location doesn't matter because they are not targeting the local market.

But if you are in need of a steady reliable income at NOB wages, you may find it better to go NOB.  Mexico doesn't have enough employment at a living wage for its own workers.
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Post by Viajero-Tiempo Tue Jun 25, 2013 9:47 pm

Perhaps you could sell real estate.
Perhaps you could write a book on how to plan and execute a move to Mexico.

Is your question really serious?

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Post by Ms.Thang Tue Jun 25, 2013 10:06 pm

Well, there used to be a guy who made a run to the border and back once a month to pick up people's  purchases like medications and stuff ...I think he had a delivery address in Laredo and for a fee he would bring the stuff to Chapala ...he stopped doing it a long time ago but people are always asking for something like that and there sure aren't any Mexicans lineing up for that job. 
Also, few restaurants deliver and a delivery service that will pick up and deliver to go orders might do all right.

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Post by hockables Wed Jun 26, 2013 12:42 am

Open up a TacoBell....Beer
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Post by Jim W Wed Jun 26, 2013 5:33 am

hockables wrote:Open up a TacoBell....Beer



Hocks, You got the MUNCHIES?
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Post by jrm30655 Wed Jun 26, 2013 6:37 am

A/C Gypsies wrote:I have often heard it said that if you desire something that eludes you or have a question you cannot answer, you need to "put it out to the universe".  While this forum is not the universe, it is a good place to start.

We (my wife and I) are in our mid forties and have moved to Mexico, permanently.  Lakeside was our first landing spot, and we enjoy living here a great deal.  We have a dilemma, however.

Though we scraped our savings together for eight years in preparation for the move, we cannot rely solely upon them to carry us through to when/if Social Security kicks in.  Our plan from the beginning was to find gainful employment so that our savings could remain untouched.  What we did not realize was just how difficult it would be to find work in the Lake Chapala area.

We need to "reinvent" ourselves.  Many ideas have been tossed around but to no avail.

Please put yourself in our shoes, and think about what you would do... we welcome your suggestions!  Surely someone out there knows of a much needed service that isn't currently being provided, or a specific niche that has not been filled.

I look forward to your suggestions and comments (but please, be nice)!

There's plenty of work at home jobs on the net. I have no idea where your talents lie but there are plenty of jobs from idiot level to genius level out there.

The nice thing is that you have a $92K income tax exemption because you livein MX

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Post by Zedinmexico Wed Jun 26, 2013 8:41 am

[quote="jrm30655"]
A/C Gypsies wrote:
The nice thing is that you have a $92K income tax exemption because you livein MX


Be aware that is for Earned income only (wages). Unearned income does not get the Exemption from U.S. Federal Taxes.

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Post by sambrit10 Wed Jun 26, 2013 8:49 am

There always seem to be opportunities for house and pet sitting. If you can house-sit for a snowbird during the summer season you may not get paid but may get a place to stay rent-free. This could really help with the budget.

If you have culinary skills you might be able to sell stuff at the Monday / Friday markets.

In any case be sure to look into the legal ramifications of earning money in Mexico. You may be exempted from US taxes but have to pay Mexico taxes.

Frankly, though, I think that the advice of "go back north and go back to work" might be a good idea. Think ahead ... you'll hit Social Security years with all your savings gone. You really think you can live solely on Social Security, even down here? And what about medical expenses? If you really want to do that you're going to have to seriously learn how to keep a very tight budget -- and never get sick.

Not that the employment situation up north is rosy, but it's better than here.


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Post by viajero Wed Jun 26, 2013 8:52 am

hockables wrote:Open up a TacoBell....Beer
Or a sausage factory.

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Post by Pedro Wed Jun 26, 2013 9:31 am

viajero wrote:
hockables wrote:Open up a TacoBell....Beer
Or a sausage factory.
i'm sure you'll find investors falling all over themselves with bags of money to hand to you fer that.
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Post by saege007 Wed Jun 26, 2013 9:55 am

Zedinmexico wrote:
jrm30655 wrote:
A/C Gypsies wrote:
The nice thing is that you have a $92K income tax exemption because you livein MX


Be aware that is for Earned income only (wages). Unearned income does not get the Exemption from U.S. Federal Taxes.

Also be aware that if you work for yourself, and not for a company, YOU will still have to pay for 1/2 your self-employment taxes on money you make in Mexico. Regardless of whether you already pay taxes on that money in Mexico.


That said, I have been told there is a need for someone to drive around the elderly to help them run errands. My doctor told me she gets requests from patients for such a service.

Make sure whatever you are doing, you get the right work permits and pay your taxes.
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Post by lunateak Wed Jun 26, 2013 12:30 pm

Driving the elderly is an idea but you'll probably need language skills in order to compete with the many Mexican drivers who provide this service and can translate when you arrive at your destination.

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Post by saege007 Wed Jun 26, 2013 12:54 pm

lunateak wrote:Driving the elderly is an idea but you'll probably need language skills in order to compete with the many Mexican drivers who provide this service and can translate when you arrive at your destination.


I agree, but I know my doctor said that she gets people asking specifically for gringo/gringa drivers. Not just for driving to dr appointments, but grocery shopping, and general errand running.
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Post by Intercasa Wed Jun 26, 2013 12:59 pm

Not a whole lot of money in that, people are cheap and to have a car and pay gas and insurance and be available on a moments notice to work a few times a week? May work as a hobbie but I would doubt it to pay rent and food on a regular basis
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Post by Pedro Wed Jun 26, 2013 1:19 pm

Intercasa wrote:Not a whole lot of money in that, people are cheap and to have a car and pay gas and insurance and be available on a moments notice to work a few times a week?  May work as a hobbie but I would doubt it to pay rent and food on a regular basis
when mexico jerry lived here he did it to supplement his small pension but he knew gudalajara like the back of his hand and was fluent in espanole. he also only needed to look after himself. he always had a house rental fer about $85usd. not the lifestyle fer everyone but he was a happy guy and now living even cheaper in thailand
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