‘I can’t afford US now but I retired in Mexico and only spend £509’

65-year old only paying $450 a month while retiring in Mexico

Janet Blaser, 65, shared with CNBC why her decision to move from the US to retire in Mexico was a positive one as she only pays the equivalent of £127 a month on “extras” outside of rent.

The journalist moved to Mazatlán, Mexico in 2006 and is partially retired outside of freelance commissions on the side.

At the time of filming, Ms Blaser was paying $428 (currently around £342.50) per month for her apartment in Mazatlán.

She pays $25 (£20.01), $5 (£4) and $17 (£13.60) monthly for her electric, gas and wifi, respectively.

Notably, she only pays $160 – equivalent to £127.97 – on “extra” expenses, such as restaurants and entertainment. Her total spend adds up to $635, or around £509.

With royalties from books and Social Security benefits, Ms Blaser is able to afford her retirement in Mexico.

She explained: “The truth is I would not be able to afford to live in the US anymore. Not on just my Social Security and the little bit extra I get.

“So to live here, in Mexico, and to be happy and be able to afford the things I want in my life is a blessing.”

Her free time is spent walking along the beach, going for a swim or chatting with her friends on her apartment’s porch.

Even with little spending, Ms Blaser is still able to spend money eating out with her “go-to-meal” and iced coffee at her favourite cafe coming to $6 (£4.80).

Grocery items such as a litre of orange juice come to $3 (£2.40), while a loaf of sourdough bread costs the same from her local bakery.

However, she also adopts a very frugal lifestyle in order to make the little money she receives from Social Security go far.

Ms Blaser added: “It might sound like all I do is wander around and spend money, but that’s not the case at all.

“Other than the basic necessities like rent, utilities, gas and groceries, I spend an average of $160 (£127.97) a month on ‘extras’ – e.g. eating out, going to the theatre and the occasional whimsical purchase.

“Living mostly on my Social Security income, I’m actually a frugal homebody. Like many retirees, my free time includes a lot of time putzing around the house.”

Those interested in following more savings and retirement tips can follow the CNBC YouTube channel.

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