Hi everyone, hope you find this video useful. CORRECTION: An alert viewer noticed that my numbers don't add up! The total, $39,500 is wrong. The individual expenses are correct, and the correct total is approximately $31,650. What happened is during the year I began working as a real estate agent and had expenses related to that, which I didn't mean to include in the total because I don't consider them "living expenses". Apologies for getting that wrong! If you want to bypass my long, tedious intro, skip to: - Expense Categories: 1:44 - Total Spending: ~$31,650 - Individual Expenses start: 3:20
Mr. Gary, Good morning. I found this video extremely helpful as I plan to move to Mexico in the near future. I wish to know the name of your private insurance company? I would appreciate any of the common pitfalls to avoid. Thank you in advance.*****
@@tryan7 I use a company called Vumi. For more details feel free to message me at my email in the Description to this video. I'd be glad to help out however I can.
Just paid our 2021 property taxes for our PV house. I had to pay the extra fee for using my credit card to do it online. It cost $26 total. Haha...just a little cheaper than Bay Area Property taxes.
Great information for giving an idea of living in PV. Old Town/Romantic Zone of Puerto Vallarta is the most expensive area of Puerto Vallarta. That's one of the many reasons we chose Bucerias in the Riviera Nayarit just north of Puerto Vallarta to live. We own our 2,000 sq. ft. home and even a car and our yearly expensiveness are $18,000 USD a year. So you can live cheaper if it's one's desire to do so.
As Americans, how do you own your home? It's my understanding that after twenty years, it goes back to the bank & Mexican government to be resold, or you buy it again. Sounds more like a two decade lease.
@@chrisroper2731 It's or was 100 years. Been this way since I been alive and I'm 67 years old and from San Diego, we know. You get the land lease for 100 years. If it's changed let us know.
I thought your numbers seemed high for a couple living in Mexico so I added up what you presented. The total was only $31,657, not the $39,500 you said in the beginning.
TY! This was very helpful as I prepare my Exodus2Mexico. I will be visiting Puerta Vallarta this week and hope to have divine synchronous events that help me move forward in my journey.
Lived in PV for 5 years, just sold my condo Feb 2021. The taxes are low but if and when you sell it you'd better get a good closing notario and attorney to figure out the Capital gains and dollar vs pesos fluctuations to pay the lowest capital gain taxes; this is where they make up the money. Granted, you will never pay a much as in the US but it is not as low as $67.00/year. Also, my ATT Mexico cell phone plan was $11;00/month; check it out you may save some money there. Otherwise, I loved living in PV.
@@GaryShirkPV Great to hear that! Both Ada and I watched all your videos last night. Love your enthusiasm--- and even the videos in Spanish language! Look forward to running into you in person one of these days. We are up in the US now due to some family obligations, but will be back hopefully end of February - We should be fully vaccinated by then too -- can't wait until we get this pandemic over! Cheers, Stefan and Ada
wow. you guys are older granted and living in a somewhat American resort area, but I'm spending what you spend on eating out per month in Guatemala. I cook breakfast and dinner every day, and eat lunch out every day. I have fast internet, 2 bdrm apartment, 1 block from center of the city square. I also go dancing and drinking like 2 or 3 times a week, language classes, and salsa gym etc. I can't remember the last time I spent more than 600 usd, normally it's closer to 450. I'm in the mountains, 2nd largest city, hotsprings, etc. So many people tell me Mexico is cheaper, but I haven't seen any prices near what I'm paying in any city, let alone the coast of Mexico.
Great video! Did you first spend a few weeks/months in PV before deciding to move permanently? Do you miss not having your own car? My wife and I are considering a move a few years down the road. Thank you.
Thank you Robert. We spent a lot of time here on vacations before making the permanent move, so when we arrived, we knew exactly which area we wanted to live. I did miss having a car, and recently bought one because I need it for my work here at Coldwell Banker. The video expenses didn't include the car because I bought it recently, so next expense video will show it.
Great video with really great information. Much more detailed and true to life expenses then most COL videos. We’re you always a realtor or did you become a realtor in Mexico?
So the major savings is in property tax? If you add hypothetical house expense(rent or mortgage ) it would probably be over $50-60k/y. Without comparison to your us expense for similar lifestyle it’s hard to tell how much cheaper it is in PV
Like a lot of buyers my wife and I watched tons of TH-cam vids from Puerto Vallarta, and my realtor made a video that I saw on Coldwell Banker's website. When you need a realtor here I can definitely help connect you to someone; just let me know when you'd like to start your search or when you're planning your visit
I use a service called escapees.com. Here's some information about it. It's worked well for me. www.escapees.com/mail-service/how-escapees-mail-forwarding-service-works/
@@GaryShirkPV Awesome thank you. That is a little higher than I have heard. Mostly I hear it runs about $100 per person per month so it isn't too far off
If you have reached retirement age, you still need to pay US Medicare fees, if you ever plan to go back to US in the future. How do you think about that?
Goodness, that's more than we spend in Indiana except for medical. Unfortunately, my family's medical+ insurance pushes 15k+. If we could fix our medical system in the US it would change so many lives.
At the time of this writing, and depending on location you can get into a 2 Bed / 2 Bath condo for as low as $200,000 USD. If you're open to buying a unit in a building that is still under construction, you can find units selling at a discounted price for even less than $200k
Very informative thanks! Do you mean around $15/month electricity?? oh wow, including hot summers/AC? Do you know anything about rental costs walking distance to the sea and shops? tx! Also, how would you describe the safety level?
My electric bill fluctuates month to month depending on how often we use the AC. With the hotter weather I've seen up to $28 USD per month on average recently. Rental costs vary widely, The Property Girl on Facebook is a good source for more info. Regarding safety, we take the same precautions we've taken when living in other cities; and we feel that PV is relatively safe compared to cities we've lived in in the US
Hi Gary, Thanks for the detailed expense information. Curious how did you transport your 2 dogs to Mexico? If you used a service, how much it cost? Thanks!
Hi Sulman, both our dogs are small enough to fit in a carrier under the seat in front of us. You just have to make sure you have your vet fill out the airline's required health form, and make sure you let the airline know you are bringing dogs at the time you book your flight. Good luck!
Our numbers are considerably less expensive per month. Even after the cost adjustments. Note: we don’t live in PV. But a Beach community north about 60 km. With the decision to retire at 50 we had to bring the costs down. I guess we just spend what we’re comfortable with And I assume since you dropped Coldwell’s name you’re still working?
Hi Bill, yes, depending on where you choose to live, renting could be a less expensive alternative to buying. I don't have info on assisted living, but if you send a message to my email in the Description, I'll send you a contact who may be able to help
Thanks for this breakdown. I'm surprised that your electricity cost is so low. You must be very careful of how much electricity you use each month since it is so easy to get stuck in a high paying bracket.
I’m in Jalisco and my monthly nut with property tax, utilities, association dues, in a gated community is less than $100.00 per month. 3,000 sq ft house. About an hour to the beach.
We are considering retiring to San Cristobal de las casas, as we love cool weather. According to my research it seems likely that even though we have retirement accounts, we may easily live just on social security. Would there be any reason for us to be residents of Florida before moving to Mexico ? Thx !
@@GaryShirkPV Hi Gary, yes I lived in Florida for 40 years and most of my family is there as well. I guess as we pull money out of our retirement accounts the benefit is avoiding state tax...what did you have to do to gain residency status...just have an address, get a drivers licence, etc ? Thx very much !
@@bananapatch9118 Yes, that's correct. We got an address, driver's licenses, registered our car there, and registered to vote. It was a really easy process.
Hi Garry thank you for your video! I am planning to move to PV and teach English. I also have two small dogs and would be moving with my partner. One of my biggest concerns is the quality of life for our pets due to the intense weather in PV. Would you be able to make a video about how you got your pets from the states to Mexico and how often you’re able to take them out due to heat and some other things that are must knows as far as moving to PV with your pets?
Hi Karina, I plan to make more videos about living in PV. Given our experience in moving to PV with pets, and living here with pets, that's a good one to put on my list for future videos. Thank you!
If you have a single coat dog with short hair these breeds will do fine in the tropics, but just like us try avoid the midday sun. Other breeds with double coat and or longer thicker hair will not like the climate in PV and will suffer from it unless their in AC during the day and only go out in the cooler night air. trying searching "Dog Coat Types"
Hi Gary, thank you for this video, it was very informative. Would you mind guesstimating what your expenses would be if you were by yourself.p? I am single and thinking about moving to PV. Thanks again, Robert from Texas
Hi Robert. If I had to take a guess, I'd say my expenses would be reduced by about 30%. What's important to note, though, as others have pointed out, it's possible to live on less or more than that depending on your spending choices, what area you live in, etc. My expenses can best be used as one example and a starting point for calculating yours. Good luck!
Great video Gary. It's nice to see someone actually include everything in the expenses instead of just trying to paint a picture that you can live in a beach resort town for $1000. Thanks.
I speak live with an excellent Mexican tutor three times a week, one hour session each. I use a website called PrePly.com. The site doesn't provide a way for me to share a specific tutor's information, but I'll ask her if she'd be willing to send out her contact info. If I'm not able to get that for you, I'd still recommend searching for a tutor on PrePly and doing a trial lesson; I've had really good luck over the past few years with that site
If you wouldn't mind...My partner is a real estate agent here in Washington State... 4 yrs Residential. Is it hard to get licensed there? Asking for her.
Hello Gary! I am considering retiring in Mexico ( or Asia ) , but loved PV when i was there before. Where do you suggest i look for a place to rent for a month or so this year ? I would love something like an apartment of condo, so i can get the feel of being a resident. Great video ! Thanks!
Hi Marc, if I were in your shoes, I'd rent in the Versalles area of Puerto Vallarta. It's a great up and coming neighborhood, very walkable with lots of good restaurants, and still relatively close to the beach and all that is going on in nearby Old Town PV
@@telefrk49 I did a quick AirBnb search for the month of May in that area and I see places (to rent entire place) from $500 USD up to around $1500 depending on your price range and size you're looking. When in AirBnb look on the map for Versalles and Diaz Ordaz. Also, in Facebook, search and check out ThePropertyGirl page. She's a good source for rentals (let her know I sent you!)
Thank you for this video. My husband & I are wanting to move to PV in about a year & a half. (Enough time for us to pay our home off here in the U.S & finish some renovations so we can rent it out when we move to PV. We are wanting to rent there when we first move just so we can really get to know the different neighborhoods better & figure out which area best fits us and our 2 dogs & then we would like to buy a home. So glad I found your videos :) Thanks for more accurate information
I'm a permanent resident in Mexico and I plan on keeping my US citizenship. Anyone reading here should of course check specifics with your Accountant, but my understanding is US tax payers do not get double-taxed for taxes they paid on income in Mexico (at least up to a certain amount). But again, please double-check with an Accountant
Seattle WA looking at Mexico and other places to relocate. Paying almost $10,000/year in property tax is getting really old. Wife spent 3 hours on phone with insurance trying to mitigate a $2750 bill after she cut her finger tip with kitchen scissors that required ONE stitch, no antibiotics. That, and aggressive maskholes everywhere barking at me for no mask. Had enough.
I want to move here. I’m looking for a little bit less than what you have. I’ll b using my savings n hoping to find something cheaper. Every thing else sounds great
I do not understand your expenses per month of dining out.Just one time at Cafe des artists is almost $200 and River Cafe is maybe $150 for two people.Dining out is almost the same as it is in many cities in the US.That number is extremely low,way way way unrealistic.
Why are you listing really fancy restaurants? The term "dining out" can also mean going to a little taqueria and ordering a $8.00 plate. Don't tell me you are so rich you didn't know that?
Gary, thanks for the info on your expenses. You may want to work on the pronunciation of your city name with your tutor. I don't know of a Porta anywhere in MX. Its like saying you are from Cheecaga, IL. ;)
Yikes! I live in Sacramento California and the expenses are very similar and in some areas I pay significantly less... I am just beginning my research for retirement destinations and hope this not typical of all Mexico destinations.
Hi Irideon, I made a correction in the Description. The correct total spending was about $31, 650 (so almost $10k less than the incorrect number in the video). I would say our experience here in Puerto Vallarta is not typical of Mexico. We probably ate out a lot more than we needed to, and we also could have lowered our grocery bill by choosing different places to shop. Our goal is to lower our spending here over this next year. Good luck to you!
If you are considered a resident of Mexico, then you are going to be taxed on your worldwide income, ranging progressively from 1.92% - 35% depending on income level, regardless of your nationality or where the income was earned. On top of your obligation to file and pay US taxes, Mexico has income taxes of its own. For 2020, the national income rates for resident expats are as follows: Earnings in Pesos Rate Applicable to Income Level (%) 0 - 125,900: Exempt 125,900 - 1,000,000: 15% 1,000,000 and above: 30% Expatriates also pay local taxes to their state in Mexico. These rates are different in each state and generally range from 1% to 3%. Capital Gains Tax in Mexico If you are a resident, capital gains apply to worldwide income. Currently, the rate is 25% on the gross amount of the transaction or 30% of the total capital gain. For expatriates, the capital gains tax will depend on the tax cost basis, the type of asset to be liquidated and the sale price.
"If you are considered a resident of Mexico, then you are going to be taxed on your worldwide income" please provide your source for this statement. Because it is not entirely correct.
Hi everyone, hope you find this video useful.
CORRECTION: An alert viewer noticed that my numbers don't add up! The total, $39,500 is wrong. The individual expenses are correct, and the correct total is approximately $31,650. What happened is during the year I began working as a real estate agent and had expenses related to that, which I didn't mean to include in the total because I don't consider them "living expenses". Apologies for getting that wrong!
If you want to bypass my long, tedious intro, skip to:
- Expense Categories: 1:44
- Total Spending: ~$31,650
- Individual Expenses start: 3:20
Mr. Gary, Good morning. I found this video extremely helpful as I plan to move to Mexico in the near future. I wish to know the name of your private insurance company? I would appreciate any of the common pitfalls to avoid. Thank you in advance.*****
@@tryan7 I use a company called Vumi. For more details feel free to message me at my email in the Description to this video. I'd be glad to help out however I can.
I live here. This is probably the most accurate cost of living video I've seen on Puerto Vallarta so far. Highly recommended
Thx for the information
What are properties value there in nice area?
Perhaps you live in the tourist areas, at those rates.
@@chrisroper2731 I have several homes in different areas. I run 5 businesses here in PV
Just paid our 2021 property taxes for our PV house. I had to pay the extra fee for using my credit card to do it online. It cost $26 total. Haha...just a little cheaper than Bay Area Property taxes.
Wow! $9750.00 /year and rising here near Seattle. Working on the wife about leaving WA after 21 years.
Just a little cheaper than "Anywhere in the USA" Property Taxes.
Great information for giving an idea of living in PV.
Old Town/Romantic Zone of Puerto Vallarta is the most expensive area of Puerto Vallarta. That's one of the many reasons we chose Bucerias in the Riviera Nayarit just north of Puerto Vallarta to live.
We own our 2,000 sq. ft. home and even a car and our yearly expensiveness are $18,000 USD a year.
So you can live cheaper if it's one's desire to do so.
Hi! Coming in the next few months to visit before moving full time. Would love to meet up with people like yourself. :)
As Americans, how do you own your home? It's my understanding that after twenty years, it goes back to the bank & Mexican government to be resold, or you buy it again. Sounds more like a two decade lease.
@@chrisroper2731 It's or was 100 years. Been this way since I been alive and I'm 67 years old and from San Diego, we know. You get the land lease for 100 years. If it's changed let us know.
Are rental properties easy to find in Bucerias?
Thanks Gary. This is one of the best and most comprehensive videos I’ve seen on living expenses in PV on TH-cam. Much appreciated.
Thank you Tim, much appreciated!
Thank you for all the videos. They are so informative and helpful!
Wow I almost fell out of my chair at the property tax number. I pay $4500/year for a 1500sqft townhouse in ancaster Ontario Canada.
I thought your numbers seemed high for a couple living in Mexico so I added up what you presented. The total was only $31,657, not the $39,500 you said in the beginning.
Ouch! How embarrassing, but greatly appreciated. I see what happened and will add a correction in the Description. Thanks Jim
Funny, bc I thought 39k was cheap!
Thanks for the due diligence
That makes more sense then
Witch is around $2600 per month
Wow love the numbers.. I'm a numbers guys
.and just placed a deposit for a pre construction condo
Glad to find you! Excellent info!
Very detailed information, thank you!
Im following do you can get monetized
TY! This was very helpful as I prepare my Exodus2Mexico. I will be visiting Puerta Vallarta this week and hope to have divine synchronous events that help me move forward in my journey.
Can you provide an update on your experience please?
Really appreciate this great information...hoping to be down your way by July
Thank you for your information! Cause I’m thinking of moving back!
Lived in PV for 5 years, just sold my condo Feb 2021. The taxes are low but if and when you sell it you'd better get a good closing notario and attorney to figure out the Capital gains and dollar vs pesos fluctuations to pay the lowest capital gain taxes; this is where they make up the money. Granted, you will never pay a much as in the US but it is not as low as $67.00/year. Also, my ATT Mexico cell phone plan was $11;00/month; check it out you may save some money there. Otherwise, I loved living in PV.
Great Videos Gary!
Thank you! Your videos were very helpful to me when I was planning my move
@@GaryShirkPV Great to hear that! Both Ada and I watched all your videos last night. Love your enthusiasm--- and even the videos in Spanish language! Look forward to running into you in person one of these days. We are up in the US now due to some family obligations, but will be back hopefully end of February - We should be fully vaccinated by then too -- can't wait until we get this pandemic over! Cheers, Stefan and Ada
wow. you guys are older granted and living in a somewhat American resort area, but I'm spending what you spend on eating out per month in Guatemala. I cook breakfast and dinner every day, and eat lunch out every day. I have fast internet, 2 bdrm apartment, 1 block from center of the city square. I also go dancing and drinking like 2 or 3 times a week, language classes, and salsa gym etc. I can't remember the last time I spent more than 600 usd, normally it's closer to 450. I'm in the mountains, 2nd largest city, hotsprings, etc. So many people tell me Mexico is cheaper, but I haven't seen any prices near what I'm paying in any city, let alone the coast of Mexico.
David Let's see.... Guatemala? México? Inland? On the ocean? 🤔 That's no brainer why the difference in prices. You're comparing apples with oranges.
@@johnnyfoster977 he says in his comment he lives in Guatemala's 2nd largest city. That would be Mixco, Guatemala.
@@johnnyfoster977 I've never been to Guatemala. IMO It'd be an interesting country to visit but not to live.
Where in Guatemala are you ? It sounds great
Who do you use for your health insurance?
Vumi. I have a good broker contact here in PV. Message me if you’d like me to send her contact info
Great info. Thanks !! 😊
$528 dollars a month for groceries for 2 people?That's quite a bit.
Great video! Did you first spend a few weeks/months in PV before deciding to move permanently? Do you miss not having your own car? My wife and I are considering a move a few years down the road. Thank you.
Thank you Robert. We spent a lot of time here on vacations before making the permanent move, so when we arrived, we knew exactly which area we wanted to live. I did miss having a car, and recently bought one because I need it for my work here at Coldwell Banker. The video expenses didn't include the car because I bought it recently, so next expense video will show it.
Great video with really great information. Much more detailed and true to life expenses then most COL videos. We’re you always a realtor or did you become a realtor in Mexico?
Thank you. I retired to PV from the tech industry, but got a little bored and wanted to learn the area better so I became a realtor
Thank you for the video 😊
thanks for all the helpful info. what health insurance company did you sign up with?
Vumi insurance. I don't have any experience yet with claims, but others have given it good reviews
Very helpful video. Thanks. Just subscribed to your channel.
Thanks Jim, much appreciated!
So the major savings is in property tax? If you add hypothetical house expense(rent or mortgage ) it would probably be over $50-60k/y. Without comparison to your us expense for similar lifestyle it’s hard to tell how much cheaper it is in PV
Thank you for sharing this information. How did you find your realtor when you bought your condo? I'd like to move to Puerto Vallarta.
Like a lot of buyers my wife and I watched tons of TH-cam vids from Puerto Vallarta, and my realtor made a video that I saw on Coldwell Banker's website. When you need a realtor here I can definitely help connect you to someone; just let me know when you'd like to start your search or when you're planning your visit
Hi.
I enjoyed the video thanks
How dud you set up the mail service that you talked about in the video?
Thanks
I use a service called escapees.com. Here's some information about it. It's worked well for me. www.escapees.com/mail-service/how-escapees-mail-forwarding-service-works/
Great video and information..... Did I miss health insurance?
Thanks John. Health Insurance is covered at minute 4.15
@@GaryShirkPV Awesome thank you. That is a little higher than I have heard. Mostly I hear it runs about $100 per person per month so it isn't too far off
If you have reached retirement age, you still need to pay US Medicare fees, if you ever plan to go back to US in the future. How do you think about that?
I feel like those are a little high
Thats because he is living like he lived in the U.S. Otherwise cut that in at least half
Only rent here and you can make it comfortably on $1500 to 2000 USD.
Goodness, that's more than we spend in Indiana except for medical. Unfortunately, my family's medical+ insurance pushes 15k+. If we could fix our medical system in the US it would change so many lives.
Why is it so hard for Americans to use the word "immigrant" when they move abroad?
Great inf. Looking forward to more videos ......love love PV. !!♡♡
Thank you . GARY... Hopefully my new home
In the near future .....
.
Thx for the information
What are properties value there in nice area?
At the time of this writing, and depending on location you can get into a 2 Bed / 2 Bath condo for as low as $200,000 USD. If you're open to buying a unit in a building that is still under construction, you can find units selling at a discounted price for even less than $200k
What square footage please?
@@damirjalali Square Footage varies quite a bit, but for the example I gave above, you'll typically find 900 to 1200 sq ft (ballpark estimate)
Very informative thanks! Do you mean around $15/month electricity?? oh wow, including hot summers/AC? Do you know anything about rental costs walking distance to the sea and shops? tx! Also, how would you describe the safety level?
My electric bill fluctuates month to month depending on how often we use the AC. With the hotter weather I've seen up to $28 USD per month on average recently. Rental costs vary widely, The Property Girl on Facebook is a good source for more info. Regarding safety, we take the same precautions we've taken when living in other cities; and we feel that PV is relatively safe compared to cities we've lived in in the US
Hi Gary, Thanks for the detailed expense information. Curious how did you transport your 2 dogs to Mexico? If you used a service, how much it cost? Thanks!
Hi Sulman, both our dogs are small enough to fit in a carrier under the seat in front of us. You just have to make sure you have your vet fill out the airline's required health form, and make sure you let the airline know you are bringing dogs at the time you book your flight. Good luck!
Our numbers are considerably less expensive per month. Even after the cost adjustments. Note: we don’t live in PV. But a Beach community north about 60 km.
With the decision to retire at 50 we had to bring the costs down. I guess we just spend what we’re comfortable with And I assume since you dropped Coldwell’s name you’re still working?
Have you ever considered renting? That would save a lot of money it seems? Do you have information on Assisted Living places in PV?
Hi Bill, yes, depending on where you choose to live, renting could be a less expensive alternative to buying. I don't have info on assisted living, but if you send a message to my email in the Description, I'll send you a contact who may be able to help
Seems high for Mexico.
Thanks for this breakdown. I'm surprised that your electricity cost is so low. You must be very careful of how much electricity you use each month since it is so easy to get stuck in a high paying bracket.
Great video!! Would you mind showing us what your condo is like and about what you paid for it?
Hi Andy, We have a 1 bedroom, 2 full bath condo in Old Town, 1000 sq ft, purchased in 2019 for just over $300k USD
I’m in Jalisco and my monthly nut with property tax, utilities, association dues, in a gated community is less than $100.00 per month. 3,000 sq ft house. About an hour to the beach.
Did you forget a 0??
We are considering retiring to San Cristobal de las casas, as we love cool weather. According to my research it seems likely that even though we have retirement accounts, we may easily live just on social security. Would there be any reason for us to be residents of Florida before moving to Mexico ? Thx !
I chose Florida because my wife and I have relatives there and because the state is tax friendly to retirees
@@GaryShirkPV
Hi Gary, yes I lived in Florida for 40 years and most of my family is there as well. I guess as we pull money out of our retirement accounts the benefit is avoiding state tax...what did you have to do to gain residency status...just have an address, get a drivers licence, etc ? Thx very much !
@@bananapatch9118 Yes, that's correct. We got an address, driver's licenses, registered our car there, and registered to vote. It was a really easy process.
Hi Garry thank you for your video! I am planning to move to PV and teach English. I also have two small dogs and would be moving with my partner. One of my biggest concerns is the quality of life for our pets due to the intense weather in PV. Would you be able to make a video about how you got your pets from the states to Mexico and how often you’re able to take them out due to heat and some other things that are must knows as far as moving to PV with your pets?
Hi Karina, I plan to make more videos about living in PV. Given our experience in moving to PV with pets, and living here with pets, that's a good one to put on my list for future videos. Thank you!
If you have a single coat dog with short hair these breeds will do fine in the tropics, but just like us try avoid the midday sun. Other breeds with double coat and or longer thicker hair will not like the climate in PV and will suffer from it unless their in AC during the day and only go out in the cooler night air. trying searching "Dog Coat Types"
Hi Gary, thank you for this video, it was very informative. Would you mind guesstimating what your expenses would be if you were by yourself.p? I am single and thinking about moving to PV. Thanks again, Robert from Texas
Hi Robert. If I had to take a guess, I'd say my expenses would be reduced by about 30%. What's important to note, though, as others have pointed out, it's possible to live on less or more than that depending on your spending choices, what area you live in, etc. My expenses can best be used as one example and a starting point for calculating yours. Good luck!
Great video Gary. It's nice to see someone actually include everything in the expenses instead of just trying to paint a picture that you can live in a beach resort town for $1000. Thanks.
If you divide the revised total by 2, it's pretty close. And then any variance is based on personal preference and outliers like pets.
Thanks, sir. what mail service do you use?
I use a service called Escapees.com; so far it's been really good
Can you make a recommendation on Zoom classes with a native speaker?
I speak live with an excellent Mexican tutor three times a week, one hour session each. I use a website called PrePly.com. The site doesn't provide a way for me to share a specific tutor's information, but I'll ask her if she'd be willing to send out her contact info. If I'm not able to get that for you, I'd still recommend searching for a tutor on PrePly and doing a trial lesson; I've had really good luck over the past few years with that site
Here is a link to my highly recommended tutor on PrePly.com: preply.com/es/profesor/538805/
If you wouldn't mind...My partner is a real estate agent here in Washington State... 4 yrs Residential. Is it hard to get licensed there? Asking for her.
No, it's not difficult. I can give you more info on this if you'd like; pls send me an email or WhatsApp if you want to discuss further
@@GaryShirkPV rjgrawet@yahoo.com no whatsapp yet... thanks very much
You need to dump the condo, expenses go to zero. This was the most analytical look at expat costs
Where is occupancy cost on that list?
Good video thank you
Great vid thanks
How in the world do you keep a US bank account without a physical US address. You cannot get around the US Patriot act.
Great info...
Yeah that's nice ..I won't buy anything besides renting only 5months a year. I seen ok decent rentals for around 700 a month
Hello Gary! I am considering retiring in Mexico ( or Asia ) , but loved PV when i was there before. Where do you suggest i look for a place to rent for a month or so this year ? I would love something like an apartment of condo, so i can get the feel of being a resident. Great video ! Thanks!
Hi Marc, if I were in your shoes, I'd rent in the Versalles area of Puerto Vallarta. It's a great up and coming neighborhood, very walkable with lots of good restaurants, and still relatively close to the beach and all that is going on in nearby Old Town PV
@@GaryShirkPV what do think rent would be for a month? and is there a website to look ? thanks for the info!!
@@telefrk49 I did a quick AirBnb search for the month of May in that area and I see places (to rent entire place) from $500 USD up to around $1500 depending on your price range and size you're looking. When in AirBnb look on the map for Versalles and Diaz Ordaz. Also, in Facebook, search and check out ThePropertyGirl page. She's a good source for rentals (let her know I sent you!)
Hola saludos si que sabes llevar tus cuentas 🙏😊🇲🇽 gracias por tu video
Thank you for this video. My husband & I are wanting to move to PV in about a year & a half. (Enough time for us to pay our home off here in the U.S & finish some renovations so we can rent it out when we move to PV. We are wanting to rent there when we first move just so we can really get to know the different neighborhoods better & figure out which area best fits us and our 2 dogs & then we would like to buy a home. So glad I found your videos :) Thanks for more accurate information
Do you plan on keeping your US citizenship or is the tax savings worth it by renouncing your US citizenship?
I'm a permanent resident in Mexico and I plan on keeping my US citizenship. Anyone reading here should of course check specifics with your Accountant, but my understanding is US tax payers do not get double-taxed for taxes they paid on income in Mexico (at least up to a certain amount). But again, please double-check with an Accountant
Thank you so much
Seattle WA looking at Mexico and other places to relocate. Paying almost $10,000/year in property tax is getting really old. Wife spent 3 hours on phone with insurance trying to mitigate a $2750 bill after she cut her finger tip with kitchen scissors that required ONE stitch, no antibiotics. That, and aggressive maskholes everywhere barking at me for no mask. Had enough.
If you think you’re going to escape wearing a mask, you may want to do a little more research on living in Mexico.
I want to move here. I’m looking for a little bit less than what you have. I’ll b using my savings n hoping to find something cheaper. Every thing else sounds great
I can’t wait to retire there!
I do not understand your expenses per month of dining out.Just one time at Cafe des artists is almost $200 and River Cafe is maybe $150 for two people.Dining out is almost the same as it is in many cities in the US.That number is extremely low,way way way unrealistic.
Why are you listing really fancy restaurants? The term "dining out" can also mean going to a little taqueria and ordering a $8.00 plate. Don't tell me you are so rich you didn't know that?
Really interested in buying.....can you please send me info
Sure, will do. Could you send me an email or WhatsApp. My contact info is in the Description of the video
Wao sooo chip here in usa just for the insurance is 1000 dlls for the medical insurance what of beautiful life enjoy your life once in your life.b
Gary, thanks for the info on your expenses. You may want to work on the pronunciation of your city name with your tutor. I don't know of a Porta anywhere in MX. Its like saying you are from Cheecaga, IL. ;)
Wow you spend 2x more then I do for a family of 3 in the USA,
Perhaps you can compare your living in the USA to Mexico
Thank Gary
How about a video for the rest of us poor people! 🤣
How about safety? I heard that Mexico is very dangerouse.
Yikes! I live in Sacramento California and the expenses are very similar and in some areas I pay significantly less... I am just beginning my research for retirement destinations and hope this not typical of all Mexico destinations.
Hi Irideon, I made a correction in the Description. The correct total spending was about $31, 650 (so almost $10k less than the incorrect number in the video). I would say our experience here in Puerto Vallarta is not typical of Mexico. We probably ate out a lot more than we needed to, and we also could have lowered our grocery bill by choosing different places to shop. Our goal is to lower our spending here over this next year. Good luck to you!
This couple is living the good life....
$500/mo for groceries? Come on!
I know, thats obscene. His numbers are unimaginably stupid.
@@meatgravylard low or high?
Enjoy
Big spenders!
If you are considered a resident of Mexico, then you are going to be taxed on your worldwide income, ranging progressively from 1.92% - 35% depending on income level, regardless of your nationality or where the income was earned.
On top of your obligation to file and pay US taxes, Mexico has income taxes of its own. For 2020, the national income rates for resident expats are as follows:
Earnings in Pesos Rate Applicable to Income Level (%)
0 - 125,900: Exempt
125,900 - 1,000,000: 15%
1,000,000 and above: 30%
Expatriates also pay local taxes to their state in Mexico. These rates are different in each state and generally range from 1% to 3%.
Capital Gains Tax in Mexico
If you are a resident, capital gains apply to worldwide income. Currently, the rate is 25% on the gross amount of the transaction or 30% of the total capital gain. For expatriates, the capital gains tax will depend on the tax cost basis, the type of asset to be liquidated and the sale price.
"If you are considered a resident of Mexico, then you are going to be taxed on your worldwide income" please provide your source for this statement. Because it is not entirely correct.
Not as cheap as I thought.
You spend more money on things that you really don't need a lot of You just spending money because you can I guess
Yall get me with that expat word..u are an immigrant..
too much....for welty peopl