The recent roller coaster ride in markets around the world has affected the investments and retirement funds of many older Americans. In fact, an article published on October 8, 2008 in the Washington Post states that “2 trillion US dollars have been lost in the last 15 months” due to the dire state of the stock market. Americans who have worked hard their entire adult working lives contributing to their 401(k) or other pension programs have seen 20% of their assets disappear before their very eyes.
Those who planned to retire soon will likely have to work longer to meet their earlier retirement financial goals. Coupled with a rapid rise in the cost of living in the United States, many Americans of retirement age must make tough decisions about continuing to work or joining the millions of expats who are venturing into retirement enclaves that are now forming in countries like Mexico, Costa Rica, and Panama, where the cost of living is less expensive than the rapidly rising cost of living in the United States.
Mazatlan: The Pearl of the Pacific of Mexico
Mazatlan is located on the Pacific coast of Mexico, almost directly off the tip of the Baja California peninsula. Mazatlan has its own international airport with daily flights to the United States and Canada. Located at the foot of the Sierra Madre mountains on a peninsula that extends into the Pacific Ocean, Mazatlán is one of the main tourist areas of the Mexican Riviera. Its remarkable scenic beauty is complemented by a delicious festive atmosphere and a host of exciting activities.
Although Mazatlán is one of the most popular vacation destinations in Mexico, it has another identity as the largest port in Mexico, with a thriving economy independent of the tourism industry. This duality adds an interesting cosmopolitan flavor to this unique city that you are sure to savor. Because it was a city long before it became a beach resort, Mazatlan is less touristy than some of its neighbors in what the cruise industry calls the Mexican Riviera. Places like Puerto Vallarta and Los Cabos, which like Mazatlan are ports of call on the cruise ship circuit, were tailor-made as tourist developments.
Mazatlan, on the other hand, is a city that discovered it had a beach front and became a tourist hub almost as an afterthought. Due to its long focus on industry, Mazatlan discovered late that its miles and miles of sandy beaches offered an asset that had never been exploited: a major tourist attraction. The first pair of hotels, in the area of Old Mazatlan called Olas Altas, served primarily as lodging for sport fishermen from the United States and Canada.
Then, around 1955, an American named Ulysses S. George built a hotel a few miles north of town, just beyond Camaron (Shrimp) Point. The owners of the Hotel Playa Mazatlán began to publicize their resort and more and more tourists arrived. Most of the tourist facilities, hotels and restaurants, grew up around and to the north of the original development.
The City is concentrated in two areas: In the north, there is the Golden Zone where most of the hotels and restaurants are located. In the south is El Centro (downtown) where the heart of the city is. These two centers are connected by Avenida Del Mar, also known as the Malecón, which is a picturesque beachfront avenue that bridges the gap between the two areas. This scenic corridor will be like the Mauis skyline for years to come.
Mazatlan: Best Location, Best Price, Best Investment
Just a few minutes of… driving following the dots…
1) Location – View of the sea, boardwalk, banks, theaters, grocery stores, access roads, restaurants, cultural activities, etc.
2) Cost of living: A trip to the grocery store will set you back $50 for a full basket of groceries. Public transportation costs 80 cents. Property taxes average $130 for a 1,300-square-foot unit. Buying a cold beer at a restaurant will cost you an average of $1.50 per beer. A pound of fresh shrimp costs about $3.50. Full coverage auto insurance for the entire year costs around $270.00. A ticket to the movies costs you $4.50. A haircut costs $4.00. Full body massage costs around $15.00.
3) Health Care – There are several high quality hospitals in Mazatlan. There are 3 hospitals within a 5 mile radius of Paradise Bay Grand. Health insurance for the whole year costs about $500 a year. Going to the dentist for a dental cleaning costs $50.
4) Connectivity/Proximity to US and Canada: 2.5 hours from Los Angeles, 4.5 hours from Edmonton. 4 hours from Seattle
5) A growing expat community and expat organizations. Many expats form social groups and get involved by helping local communities and charities.
6) Culture: Mazatlan is rich in culture. There is a theater where you can see a play, the historic center, 18th century architecture, book fairs, Carnival, Easter.