At 50, she quit her career to retire to Mexico — then spent 'year one' making endless mistakes. Here's what she learned

It sounds similar a dream: retiring astatine 50, and moving to Mexico to bask your status successful the sun.

But for 1 woman, that imagination script ended up coming with a hefty dose of reality.

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Ivy Ge told Business Insider astir her program to discontinue aboriginal and determination overseas to prevention wealth (1). In her archetypal twelvemonth successful Mexico, she made a fig of missteps that threw her cautiously planned fund retired of whack.

Here's what tripped her up the astir during that important 'year one' — and what she learned from the experience.

Americans retiring overseas

More than 460,000 Americans assertion retired idiosyncratic Social Security benefits from overseas countries, according to the Social Security Administration (2). And a 2024 canvass recovered that 17% of Americans property 55 and older would similar to settee successful different state (3).

Ge told Business Insider that she chose Mexico due to the fact that it would beryllium much affordable than staying successful the States, and it's inactive adjacent to San Francisco, wherever her household lives.

"The precocious outgo of surviving successful the U.S. made an aboriginal status determination consciousness intolerable for me, but it seemed wrong scope with beardown fiscal investments and a strategical move," Ge said.

A spot to telephone location is indispensable

While it mightiness beryllium communal consciousness that it's prudent to walk immoderate clip visiting the spot you're considering moving for retirement, determination are immoderate different aspects to picking a spot that 1 mightiness overlook.

Ge recovered retired the hard mode that it's not lone wherever you move, but erstwhile you determination that tin beryllium an issue. She moved to Ajijic, Jalisco, during premier "snowbird" time, which is besides highest rental season, she told Business Insider.

This meant that uncovering a spot was competitive. She struggled to find immoderate spot that she liked, truthful erstwhile thing that matched what she was envisioning yet came along, she eagerly agreed to prepay 1 year's rent positive a information deposit.

Only aft surviving determination did she recognize that the vicinity was precise large astatine night. That, coupled with "a information scare" and a state leak pushed her to interruption her lease early, which impacted her budget. She lone got a partial refund.

Banking overseas tin beryllium tricky