Author Topic: mexican mustachians  (Read 1857 times)

Mormegil

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mexican mustachians
« on: June 06, 2014, 05:40:44 PM »
Hello. I'm from mexico city and i've been very much into frugality and FI ideas for a long time, just recently found the MMM blog and i was wondering if there are any mexican mustachians around here who could share their experience and maybe deal some advice about the path to early retirement when living here. Thank you for this resource and have a great weekend.

Oscar_C

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Re: mexican mustachians
« Reply #1 on: June 06, 2014, 07:35:53 PM »
Hello. I'm from mexico city and i've been very much into frugality and FI ideas for a long time, just recently found the MMM blog and i was wondering if there are any mexican mustachians around here who could share their experience and maybe deal some advice about the path to early retirement when living here. Thank you for this resource and have a great weekend.

Not Mexican (Guatemalan).

As for advice, what kind are you looking for?

I'm 23 so my experience is a bit limited, but I'll see what I can do. :)

adjoining_penguin

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Re: mexican mustachians
« Reply #2 on: June 06, 2014, 07:59:35 PM »
I have no expertise to offer, only having traveled in your country a bit, but I would be interested to hear how a frugal FI lifestyle would work in Mexico.  Would you be able to post some approximate costs for such a life in a typical mexican town?  How much does it cost to house and feed a family? Do people rent or buy?  What is expensive, what is cheap in Mexico?  How does health care work?  Taxes on investments?  Is it possible for people to save a significant amount?

I'm intrigued if financial independence is easier or harder in a country with a lower GDP than the US or Europe.  In many ways I think the average Mexican might live a more mustacian life by western standards.

I would be very interested to hear your thoughts, hope you can tell us about the Mexican perspective. 

Mormegil

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Re: mexican mustachians
« Reply #3 on: June 09, 2014, 06:00:53 PM »
@ Oscar_C

Thanks man. I was thinking about taxes mainly. How to pay less of them or what to expect.
Also investement advice, what brokerage firm is best. I just saved enough to get a contract to do my own buying and selling of stocks and funds, but mexican stocks don't pay that good of a dividend (most of them is only 1% and the rate of inflation here is around 3.5%) so i guess i'll just stay with the main indexed fund.

@adjoining_penguin

I live in mexico city and i'm 33. My costs for rent are very low compared to average since i rent a room from my mother's house, it would be something around $110 a month, the average appartment rent is around $450 but can go up to $1500 or more depending on the area of the city. People in the middle class mainly want to buy a house, it's the lifelong dream of most, but for most people it's hard since more than 90% of mexicans earn under $10,000 a year (i'm currently on that bracket but expect to break out soon), so here in the city, buying an apparment is the equivalent of being succesful, the range of prices can go from around $400,000 (cheap) up to the sky.

I have to leave right now but i'll continue to answer your questions later.

workathomedad

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Re: mexican mustachians
« Reply #4 on: June 09, 2014, 06:05:50 PM »
I'd say best advice is to not buy anything new and avoid the 16% VAT!