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This makes Mexico the most popular country for U.S. citizens living abroad.
And its no wonder that so many people areretiringthere.
The country has a lot to offer, not least of which is a lower overall cost of living.
Double this amount for a couple retiring together, and youll have $1,312.
This is still about 42.5% less than the average cost of living in the United States.
A three-bedroom apartment costs about double that amount still far below the average cost of a U.S. apartment.
But what about other costs?
With rent, expect to spend between $1,327 and $2,720 a month.
Thats about $30,000 a year.
Department of Laborestimates that the average American spends about 20 years in retirement.
That means youll need roughly $600,000 in retirement savings to live comfortably in Mexico.
There are some minimum requirements to residing in Mexico long-term.
In particular, youll at least need a temporary resident visa which lasts up to four years.
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