tips for investing in Mexico?

[LadyStache in Baja]

Hello! I've always been frugal, but since finding MMM, I'm trying to take it to the next level.  But, I live in Mexico, so a lot of what makes sense up there doesnt work down here.

1.  Investing.  I still have a bank account in the US, so for investing I can always have a visiting relative take cash back with them to deposit (thereby avoiding the international wire fee) so I can invest it.  But is there something I'm missing?  Advice for investing in Mexico?

2.  Good car.  What do you recommend I keep an eye out for?  I need high clearance for our rutted up roads and enough cargo space for our jobs in construction and farming.  Anything that fits the bill and has good gas mileage? 

3.  Cell phone/internet.  Internet and landline costs me about $40 US, which isn't too bad.  But my cell phone is pretty expensive.  It's pay as you go and you only get 20 minutes for about $15 dollars.  Any recommendations?  Pretty sure Republic is out. 

Anything else that you've found that helps you live more mustachian south of the border?  Thanks for your ideas!

[OR]

I don't really have any tips, but I hope to join you down in Baja in a few years.  I'd say you're already living the dream. 

[mozar]

So are you a Mexican citizen or a US citizen? Can you invest in Mexbol? I would be looking to put more of my money into US investments. There are some expat threads on here, but I don't know how to do that.

[SaintM]

Do you need to be physically present in the US to use an online brokerage?  You have a US bank account, so you can ACH transfer funds to a US brokerage.  All the business can be done online, through email, or the occasional scan and send.  Just set up an account based on a close, trusted relative's US address.  As a US citizen (presumably), you will owe US taxes on the proceeds, so why mess with a Mexican account?

[LadyStache in Baja]

Yes @or, that was the idea in coming down here...you know the story of the Mexican fisherman.  But wages are seriously low down here, a whole day equals an hour in the States.  Luckily, we have our  own business, so we have a chance to make more money.  I don't know if FI will happen for us, but thanks to MMM there's a chance.  It'll only happen through being frugal because I just don't think a six figure income is in our future.  We are barely into the fives.

I guess I'm a little confused about taxes.  When all this money shows up through an ACH transfer to my American account, it might raise some eyebrows.  Also, when we sell our house, I'd like to  put the money somewhere productive and I'd rather keep it in a joint account with my
Mexican partner.  I don't know if I can put his name on my American account.  Oh expat confusion!!

[huzar]

First, off, please, please, please keep this thread going, or turn this into a journal at some point. Mexico (probably Baja) is a retirement destination for me, and I'm sure others as well, and we would all love to hear your perspective and travails.

There's a large US expat community in Baja, especially in the larger centers like Mulege, Loreto, San Jose and Cabo, and the like. I would reach out to them (if you already haven't) about US/Mexican specifics and how they may affect your business and your partner. And as for your concern about ACH transfers raising eyebrows, your well-substantiated tax return should lower them immediately. You'll have to account for every dollar of your earnings to the IRS anyway. Lots of expats operating in Baja, and money wired from Mexico is not an issue. Finally, your bank or brokerage should be able to tell you if you can add your partner to the account.

[Rpesek6904]

I also want to hear more about living in Mexico. My wife is Mexican and foresee living in Mexico or extended "sabbatical" type trips in our future. So, please share away :)

[mozar]

As long as you are following all the IRS rules for reporting income, I don't see a problem with wiring large amounts.