One of the ways to know if you’ll have enough money to live in a particular country is to look at the average salaries in that country. It’s a simple economic truth that if the salaries are lower across the board, the cost of living will be lower too. It also stands to reason that if your monthly retirement benefit is higher than the average salary for many occupations, you’ll be just fine.
I created a list showing the median monthly income for 25 randomly selected occupations in Mexico. The data was obtained from misalario.org, a non-profit organization that provides information to both workers and employers in Mexico concerning salaries, labor law and careers.
The figures shown are the median gross monthly salary for a person with five (5) years of experience in the listed job or profession.
The peso amount was obtained from misalario.org and was converted to U.S. dollars using an exchange rate of 18.5.
Let’s Wrap This Up
If you’re looking to retire in Mexico on a fixed income, these numbers will undoubtedly give you hope that you’ll be able to survive on much less than you did in the U.S. or Canada. However, if you’re planning on looking for work in Mexico, these numbers probably left you a bit discouraged.
The good news is that I’ve met dozens of expats in Mexico who continue to work and still make enough money to enjoy themselves. The most successful ones usually fall into one of two categories: 1) people who have a job back home but work remotely from Mexico, and 2) people who started their own business here. Just some food for thought.