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U.S. Retirees predicted to outlive their financial assets
Originally Posted on Northwest Retirement Magazine - www.nwretirementmag.com -
Calafia Condos Attracting RetireesCALAFIA, Baja California –The American dream of never-ending prosperity has been shattered. According to a study recently released by Americans for Secure Retirement, retirees in California, Texas, Illinois and New York will have to lower their standard of living by 23 to 28 percent just to make sure they don’t run out of money before they die. With home values dropping and the stock market stalling, many have seen their retirement funds destroyed and their savings disappear during the current recession.

There is a familiar place of relief, however, where California residents may find homes better suited for retirement living. Just 30 minutes south of the international border, newly constructed oceanfront condos are available for a fraction of the cost of buying a home in the United States. At Calafia Condos, Resort and Villas in Baja California, spacious twobedroom, oceanfront condos with all the amenities Americans have come to expect, are selling for less than $300,000.

Mexico is rich in heritage and holds a unique culture that has been known as a mestizaje or a melting pot of races including the indigenous Amerindian, Spanish and others. Today, more and more Americans are adopting Mexico as their second home and first choice for a vacation getaway.

According to the World Tourism Organization, Mexico has one of the largest tourism industries in the world and was ranked as the seventh most popular tourist destination worldwide. In the U.S. an online poll conducted by Travel Agent Central showed Mexico as the leading budget-friendly way Americans are seeking vacations during the current state of the economy. As the third largest industry in Mexico’s GDP, tourism is the industry holding Mexico together during the current worldwide economic downturn. According to Miguel Gomez, director general of FONATUR, tourism employs 5.57 percent of the Mexican labor force. For each person employed directly in the industry, an additional four jobs are created. Tourism is the catalyst that is raising Mexico’s financial standing in the world.

“Some Americans are afraid to come to Mexico because of the drug wars but we don’t worry about safety here", said Gail Coronato, 62, of Carefree, Arizona, who owns a Calafia condo. “We are away from the city. We stay away from the parts of town we know are dangerous. It’s just common sense.”

It is possible to retire and securely own a second home in Baja California even in today’s economy, according to Max Katz, sales director of Calafia Condos, Resort and Villas. “In fact, the majority of American vacation seekers are fleeing from the consumerism craze of the U.S. and are driving to Mexico,” he said.

“Overall, the cost of living in Mexico is about 30 percent less than in the U.S. Most everything is less expensive,” said Bob Dawson who moved to Mexico 13 years ago from Orange County, Calif., with his wife Carol. “The food is good too. In fact, just the other day I bought a delicious thick ribeye steak for only $5. The ocean water is clean, the weather is warm and it is quite easy and inexpensive to rent a boat for a day excursion.”

Mexico’s strong currency and tax benefits added with the minimal cost of living, creates the best retreat for keeping a standard of living that is simply no longer found in the United States. Calafia Condos Resort and Villas is a resort beach community on the Pacific Coast of Baja California guarded by 24-hour security. Just south of the historic city of Rosarito Beach and only 30 minutes south of the San Diego border, the nearby town of Calafia is home to charming shops, restaurants, clubs, art galleries, golf courses and more. And Baja’s famed wine country is only a 15-minute drive away.

Calafia Condos, Resort and Villas provides expert guidance in purchasing real estate in Mexico with experts in the areas of title insurance, performance bond services and real estate law. Call toll free 1-866-CALAFIA or click on calafiacondos. com for details.
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