Getting Out of Debt on a Fixed Income

Amara Etter

Perhaps one of the starkest conundrums of life is this: People who can afford to pay the most are often charged the least, while those who can afford the least are routinely burdened with paying more.

Think about it. People who can afford to pay cash aren’t burdened with interest payments. Meanwhile, people who can only afford to buy things on credit are.

This, in part, is what makes getting out of a debt on a fixed income so important. The good news is it can absolutely be done. However, it will take some effort – and yes – a bit of sacrifice. Whether debt has followed you into retirement, you’re on disability or your income never wavers for any other reason, it can be done.

Here’s how.

Get a Clear Picture

You have to know exactly what’s right and what needs correcting before you can fix something. Sure, you’ll have a rough idea because you’re paying the bills every month. However, seeing the whole thing down on paper – or in a spreadsheet — gives you the ability to plan your actions more strategically.

Make a list of all of your monthly household expenses for food, utilities, car payments and the like. Keep track of every cent you spend for an entire month to be sure everything is captured. Make a separate list of all of your credit card debt, charge cards, etc. List the balances due, the amount of the minimum monthly payments, the interest rates and the credit limits.

You’ll also need to create a list of all of the cash coming in each month. In some cases, it might just be the one check. Whatever it is, get everything in print so you can look at it.

Reduce Expenses Wherever Possible

It’s time to find a more reasonably priced food retailer if you’re accustomed to shopping at Whole Foods. It’s time to make coffee at home, rather than buying a five-dollar cup every morning. Go to the public library and check out movies for free, rather than paying Netflix, Amazon or AppleTV+.

Walk and/or use the bus rather than Uber, Lyft or a taxi. By the way, taxis can sometimes be cheaper than ridesharing services — look to go old school first if the need is unavoidable. Do you have any auto-renewing subscriptions for things you don’t do anymore? Eliminate those as well.

Simply put, examine every single expense and look for ways to trim the fat.

Create a Spending Plan

Compare your post-reduction expenses to what you were doing before to see how much wriggle room you’ve created. Pairing that data with your income, develop a spending plan in which every penny you have coming in is allotted to a purpose.

Once your adjusted monthly overhead is accounted for, every other cent should go to debt eradication. As many Freedom Debt Relief reviews note, every extra penny you can put toward debt helps — this is true whether you’re tackling it on your own or trying a settlement program.

Pick a Debt Eradication Strategy — And See It Through

One of the most effective debt elimination tactics is the “snowball” method. List your debts in order from the lowest balance to the highest. Make minimum monthly payments on all but the one with the smallest amount owed. Hit it with all of the cash you have left after covering your expenses and the minimum payments on all of your other debts each month.

Continue until it is paid in full and attack the next lowest one in the same fashion — adding that money to what you’re currently paying on the second lowest balance. Work your way through the list, applying all of the accumulated cash to each succeeding obligation as the preceding one is laid to rest.

Finding yourself indebted with a set amount of money coming in each month can be a bit jarring. However, getting out of debt on a fixed income is much easier when you approach it in this fashion. The key is to start as quickly as possible. The earlier your start, the sooner the problem will be in your past.

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Setting Goals and Sticking to Them

Jane Brown

No matter how old or young you may be, it is crucial that you set, evaluate, and re-evaluate your goals in life. When we were in school, many of us were forced to answer the difficult question of, “Where do you see yourself in five years, ten years, etc.?” This was a challenging question to answer as teenagers, but it seems to be just as difficult for adults to answer.

Every year you should make a list of your top five goals you have for the upcoming year. You should evaluate and re-evaluate your goals every two years to see the progress you are making towards achieving your goals. If you are having trouble coming up with some goals for your future, here are some that many people have and are working towards achieving.

#1) Being Your Own Boss

It may be a difficult process to start a business on your own, but working with a partner and creating a partnership agreement may be your best option. Working with a partner that you trust can help with the initial investment of the company and can help handle the day-to-day workings. No matter what kind of business you plan to start, you should start the research now. Doing what you love to do and being in control of it is something that almost everyone should strive for in life.

Are you tired of working the typical nine to five job? If so, you probably want more flexibility with your life and want to become your own boss. In a recent study, it was found that 62 percent of Americans want to be their own boss. One of the best ways to do this is to start your own business.

#2) Travel More

Another goal that many people have is to travel more. Regardless of where you plan to travel, you should start saving up your money now to make your dreams of traveling more come true. The first step in making this goal a reality is to research how much it would cost to travel to the place of your dreams. For instance, if you plan to travel to Mexico for a week, you may realize that it will cost $3,000. You should then decide when you want to travel and set up a savings account to ensure that you have enough money. Traveling is an incredible opportunity, so you should not let work or other obligations get in your way.

#3) Get Out Of Debt

People of all ages have the goal to get and stay out of debt. Being in debt is a painful realization that almost everyone faces during their lives. From student loan debt, to credit card debt, to mortgage debt, almost everyone understands the financial pressures that debt holds. Trying to get out of debt is a worthy goal. With determination and a strict budget, you can make it happen. Try talking with a financial consultant if you are serious about this one.

#4) Retire Early

If you want to enjoy your golden years and do not want to work your life away, you may have the goal of retiring early. If you want to retire early, you should save as much as possible now and invest in a multitude of ways. Saving and investing will ensure that you can spend your golden years as you want. You can travel more, spend more time with family, and enjoy doing the things that you love. You can forget about waking up and dragging yourself to work.

#5) Spend More Time With Family

Another great goal that many people have is to spend more time with family. Typically, a family is one of the most important things in your life so you should try to spend as much time with them as possible. If you are having a hard time connecting with the family, try something new. If you want to connect with your children or grandchildren, find out what they like to do and then make an effort to do those things with them. The same goes for anyone that you are trying to connect with. You may need to leave your home and travel to see your family, but it will be worth it, in the long run, to see everyone together.

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Florida: The destination for the retired

John Liverstone

It’s the home of Disney World, and a whole host of other attractions that make it a firm favorite around the globe.

However, a recent infographic has revealed that Florida also happens to be THE destination for the retired. Or, if we are to take this infographic literally, it’s the place for seniors at least:

Towncare Dental are the company who have put the piece together, and they’ve done it rather shrewdly. Sure, a lot of infographics enter our inbox (with many brushed aside to the recycle bin, we hate to admit), but this one has played with data to a level that really raised our eyebrows.

The team behind the infographic have scoured Census records and found out which states, and then cities, which are more open to the elderly. Florida seems to take most mantles, with the most impressive statistic being that 19.36% of the population are over 65. Sure, this isn’t the highest number (that figure goes to California) but considering the size of Florida it’s quite a headline.

Then, when you start to break down the data into different cities, all starts to become clear. There are some real “old” cities in Florida and if we were to coin one example from the infographic, The Villages has a median age of 66. In terms of percentages, a huge 54% of this city are over 65. Again, if we look at the hard and fast numbers, this isn’t the biggest, as almost 3m over 65s reside in Jersey City.

Take a look at some of the other stats and have a deeper look. For anyone who is nearing the retirement age, this might provide a roadmap as to the city or state you should be heading to next!

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Plan Your Retirement and Live Your Best Life

Jane Brown

Everyone looks forward to the day when retiring is a real option and money is not an issue. Retiring should be a time when you can stop working, relax, and learn new things. This is when you finally learn to sail a boat, use your expensive camera, or cook like a pro. Retiring does not mean you are at the end of your life. It can be the beginning of a whole new one.

Next time you daydream about sitting on the beach and asking the waitstaff to add a touch of dragon fruit syrup to your cocktail, remember this daydream could be your reality. With the proper money management and commitment, you could not only retire but also live the life you have always talked about.

When you decide it is time to quit working, it is important to have a plan for how you will want to spend your time. Whether you wish to travel, learn a new language, or spend time with family and friends, retiring takes planning so that you do not later ponder if you made the correct decision.

One way to get ready for retirement is to put money away in a 401K through your employer. This is an automatic deduction from your paycheck that will place a preselected amount of money aside to be invested and save on your behalf. Many companies will also contribute to this savings plan to help build a solid financial future for their employees. If you are looking for a way to build your financial future faster, you might consider investing in stocks. There are many institutions that can assist in explaining the different stock options, and risks, available to you. Your investment decisions could be the difference between retiring at 50 or at 70.

After you decide that taking this big step is the right decision for you, you get to decide what you want to do with the extra time you have. You will get advice on what you need to do with your extra time from everyone, but what you choose to do with your time and money needs to be completely your decision. This is where your plans come into action. Of course, the majority of what you do will be reliant on the budget that you have set for yourself but by the time you retire, you should have a good idea of what lifestyle you would like to have for the rest of your life.

Many people chose to learn how to do things they have always wanted to do. If this is the case, look at enrolling at a local college or vocational school. This can give you the skills you want to do something you have always wanted to do. As you learn your new craft, you may even find a fun way to generate extra income during your retirement. Some people decide to go back to work after retirement because of boredom or because they find out that they did not save enough money to live comfortably. The difference in learning the new trade you have always want to learn and going back into the workforce is you would be working because you love your new skills and not because you are looking to build your future.

Thinking about retirement can be overwhelming but the odds of a successful retirement have been on the rise in recent years. People are taking advantage of financial advisors through their banks, jobs, and even from independent research on the internet. There is a wide variety of information to help plan for your retirement and it is never to early to begin. Start by making a budget of what you need to live on when you leave the workforce. Then decide how you will save the amount of money you need for the time you will need it. Keep in mind that with the advancement in medical technology, the average life span is longer and you must budget accordingly while taking into account that medical emergencies could arise and become very costly.

But for now, keep planning and get ready for the retirement years. They can be just around the corner.

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How to Start Early To Build Wealth and Retirement

Jane Brown

Not all of us have been great at building our wealth. That said, we have to learn to prepare for the future. Creating wealth calls for smart financial moves with your money. The moment you don’t take care of your financial responsibilities, it makes it harder to reach your wealth goals. Retirement might be around the corner or you might have a few years. The idea is to get organized. Think about what you need to do to increase your wealth.

Investing

If you decide to invest, then do it wisely and not recklessly. Pick stocks or companies you can relate to. Investing is only complicated if you don’t take the time to learn the basics. Use the internet to your advantage and find resources that can bring you up to speed. Download applications that make the entire investment process simple and not confusing. Once you get a grip on the investment game, start small but make it count when it comes to returns. Consider dividend stocks or the best energy stocks. This way you have options. You could rack up some extra passive income to put away in a high-interest savings account.

Options to check for another investment is a new property for lease or for own use. See this condo for sale in Midtown.

Saving

If you haven’t been saving, start now. Try to get rid of a lot of stuff you don’t need. Take that money and add it to your savings account. Find everything that’s sitting around that you never use that can be sold. It sounds desperate, but you’re starting a new lease on life. Learning to save your money has to start from somewhere. It’s difficult to save current income until you work up to it. Saving is the best thing you can do to get your financial life together or back on track.  It’s hard, at first, because you’re used to spending without thinking of the future.  Too many of us lack the proper skills to save money. We set up accounts only to drain them for some kind of an emergency. You’ll have to learn discipline if you want your savings plan to work.

Financial goals

Set realistic financial goals that help you make changes. Try either investing or saving for a month and see what happens. You might get better at handling the money that you often blew when you got paid. Financial goals are the backbone of success when it comes to wealth. Study what other people have done to keep themselves on track. Make little goals instead of bigger ones. This way, you can gain momentum in your financial journey and have a lot more when retiring. Goals are what will get you to the place you need to be with your money. They can help decrease spending and makes a budget that curves the flow of your cash.

Alternative products

Seek out alternative products when considering to build wealth and get more retirement. We are living in a new world that has a plethora of applications or new software to teach you wealth-building skills.  You can learn each day while listening to tapes or podcasts on your way to work. Don’t just stay with one method. It’s best to keep exploring ways to build your wealth. With time, you’ll know exactly what products to use to keep track of all your money. The good thing is that everything will be in one place. You’ll be able to find your information easily.

These are some things to consider when building wealth and trying to get a bigger retirement. You have to think about investing in things that make sense and can give you enough returns for you to save for the years to come. Whatever you invest in, make sure to track your progress. Pick stocks that play to your interests. Practice saving money until you’re saving a large portion of your income. Make financial goals that you can reach every time you set them. Motivate yourself to create goals that keep getting easy and allow you to master your financial game.  Try new alternative products such as wealth applications or money software tracking for your goals, investments and savings.

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Top Reasons To Shop Online

Jane Brown

Online shopping has taken the world by storm as more and more people use it each day. In the past, you could only purchase a few things, however, today you can buy almost anything online. Shopping in this way is easy and convenient and is the reason that most people have started using it to buy items that they may have forgotten to get. People of all ages are using this efficient way of shopping to purchase anything from clothes to groceries to medical supplies to business supplies. Here are some of the main reasons why people are using online shopping in their daily lives.

#1) Save Time

One of the worst feelings is when you go to the grocery store and come home to realize that you forgot one thing on your list that you need. This is a common scenario that happens to many of us. One of the main things people usually forget is something that is not associated with food, like medical supplies. If you find yourself forgetting these types of things frequently, you can shop at medical supply online to save time.

If you find that you do not have time in your day to go to the grocery store or another store, you can easily save yourself time and do your shopping online. In the past few years, there have been nearly 210 million people that claim themselves to be online shoppers. Many of these people shop in this  way because they find that it saves them time from having to drive to the store, shop around, load their purchases, and unload their purchases at their home.

#2) Great For People Who Do Not Have Cars

Whether you live in the city, are elderly, or retired and cannot or do not want to drive, or you simply do not have access to a car, online shopping can allow you to get everything you want without having to leave your home. It provides added convenience to people who do not have the ability to drive and get the things that they need.

#3) Great For Getting Gifts

Online shopping is a great way to purchase gifts for people. Many websites have recommendations of the hottest items that are out. This allows you to purchase gifts that are in style for the people in your life that you may not fully understand. Shopping for people who are not in your age range or who have a different sense of style can be difficult. Many online shopping sites make this easy and provide recommendations for their customers.

Shopping through the internet is also great for people who may have family and friends who do not live near them. You can easily and affordably purchase something online and then ship it to your friends and family who live in a different city. The companies take care of packaging, shipping, and sending gift receipts when they ship the item. This saves you both time and money and makes the whole experience of gift buying much more convenient.

#4) Saves Money

Many people may think that online shopping costs more money because you have to pay for shipping. However, this is not true. Many sites offer free shipping for customers who spend a certain amount, which is not typically a lot. You can get free shipping by spending a certain amount or you can subscribe to a site for a small fee and are guaranteed free shipping each time you shop.

Shopping in this way can actually save you a lot of money. It allows you to shop at different sites to compare prices of the same item. You can then purchase the item that you want on whichever site is the cheapest. The ability to shop around for the same item can save people a lot of money, even when you compare the price to an in-store item. Many online shopping sites also offer their customers coupons and reduced rates on items if they purchase the item and subscribe to their free mailing list in which they send emails each month.

Online shopping is becoming one of the hottest trends in how people shop today. People of all ages and backgrounds are shopping through the internet because of the added convenience that it offers , and it allows them to save money and time.

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Surgical weight loss: It’s getting bigger

John Liverstone

Some things are never going to change in life, and one of these is that the weight loss industry is always going to capture attention. After all, body image is something that’s being thrust in front of us from multiple media angles, and this means that anything related to improving this issue is always going to go down a storm.

One area of the industry which has evolved over the last few years is surgical weight loss. Up until recently, calorie counting and other tried and tested approaches may have been the limit – but things have changed.

Sure, you have to be careful, and ensure your surgeon of choice has surgical indemnity from Incision Indemnity or another provider. However, the options are endless, and through today’s page we will mull over some of the most common ones.

Gastric bypass

Let’s start with one of the most renowned form of treatments that this area has to offer.

The gastric bypass has been around for a number of years, and the fact it has survived the test of time means that it tends to be a really successful technique.

So, how does it work? Well, in a normal body, the whole of your stomach will receive food. When you undergo this surgery, a pouch is created at the top of your stomach. This then becomes the only area of your stomach which can receive food – meaning that you can’t comfortably consume great portions.

On the downside, food will now “miss out” the small intestine, meaning that your body will lose nutrients as well as the obvious calories.

Sleeve gastrectomy

In some ways, the sleeve gastrectomy is very similar. After all, this is also based on the premise of making the stomach smaller so it has less capacity to hold food.

However, in contrast to the previous option, this involves part of the stomach being removed from the body. Then, the remaining part is reformed into something that resembles a tube.

This is a more advanced procedure and your small intestine will still absorb the nutrients and calories you have consumed.

The gastric band

This final procedure is another that you have probably heard of. Again, it has been available for some time, for the simple reason that it can prove to be really successful.

This time, an inflatable balloon is involved. This balloon is inserted into your body and wrapped around the top part of your stomach. The upshot of this is that there is a small space above the band, with an even smaller opening then based beneath this to the other section of the stomach.

The intelligence of this solution is that the size of the balloon can be controlled fairly easily. It’s possible to insert or remove fluid from the band, meaning that a surgeon can really control how much weight you need to lose. Suffice to say, the larger the band, the more food which is restricted – and vice versa.

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Mistake or Inadvertent Act of Creativity?

Decades ago when I was about 17, I decided to make myself a three-piece bell-bottomed pantsuit.

Remember those?

I loved to sew and had made myself a spring coat earlier in the year, so I felt confident that I could handle making the suit.

The project begins

I bought myself the pattern, and on the back of the packet it told me how many yards of cloth to purchase, and how much lining, interfacing, thread, buttons and zippers I needed.

Following the instructions, I loosely cut out the pattern and laid it like a jigsaw puzzle on my fabric. Smaller bits and pieces fit into the spaces left by longer pieces like sleeves and the back of the jacket.

I had about 5 yards of fabric. I had no cutting table so placed the 15 feet of folded fabric on the tile flooring of my renovated basement “apartment” that my Father had constructed for me to live. Pieces A and B were laid together as were L and O.

To conserve space and to move along, I cut out all the jacket pieces, the lining, the interfacing and so on, and piled these pieces neatly to the side. Then I began on the vest and onwards to the pants.

I was so excited.

OOOPS.

When I got to the part where I laid out the pattern for the pants… something was terribly wrong.

I didn’t have enough fabric!

Oh No!

The pants part of the pattern was hanging about 9 inches onto the tile flooring with no fabric underneath it.

At this point I went from excitement to panic as I didn’t know what to do. The style was “pantsuit” not “capri-suit…”

What am I going to do about it NOW?

I had my hard-earned money into this project, and my time and dreams as well. I didn’t want to fail at this!

My cousin, who was having trouble at home with her wicked step-mother, was living with us at the time. Today she would be called a textile artist – and I asked her if she would crochet a “bottom” to my bell bottom pantsuit.

No problem!

So, the next day I had my crocheted pieces of a contrasting darker version of the color of my suit, and I sewed them onto the bottom of the pants.

Well, I thought that this was ingenious. I had saved my pantsuit.

The real test…!

But the real test was when I wore it to work the following week. I was employed in the downtown department store in the upscale Ladies’ Clothing section. A single blouse or even a scarf was far more than what I had paid to make my own pantsuit and the complete outfits were far out of my reach.

But I was able to help these ladies-living-in-mansions with their selections, get their sizing correct, and bring them alternate pieces or colors to their outfits while they stayed in the dressing room. They enjoyed my service, and I enjoyed being able to help.

Curiously, one after the other said to me, “Honey, I really like your pantsuit. Where can I buy that one?”

Well, I told them it was an original, that I made it myself, and it wasn’t available in the shop.

(!)

Can you imagine my surprise?

So, the lesson I took away from this experience, is that a “mistake” isn’t always a mistake.

Sometimes it’s an inadvertent act of creativity and I needn’t be afraid to move forward if I had painted myself into a corner. I could perhaps paint myself a door as well and walk through.

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How to Choose the Right Mattress As You Age

Matthew Ross

A full night’s sleep might be few and far between if you don’t own a quality mattress, and this is especially true if you’re an older adult who already struggles with sleeping throughout the night without disruptions. In fact, insomnia is one of the most common issues older folks consult their doctor about and is a major contributor to one’s mental and physical health. That’s why it’s important as ever for us to make sure we’re investing in our sleep as we age. Here are a few tips to help you in your quest to find the best mattress for you.

Tip 1: Stay Within Budget

Often times, money is a major factor when seniors are shopping for a new mattress. Whether it’s due to a fixed income or less hours at work, it’s not as easy to pull together the funds for a nice mattress. With that being said, it becomes increasingly important to invest in your beauty rest as you get older, after changes in your sleep patterns and different health issues wind up taking a toll on the quality of your sleep.

You don’t have to spend an arm and a leg to get a full night’s sleep, as there is a large selection of quality beds that go for under $1,000.

Tip 2: Consider A Mail Order Mattress

Shopping for a new bed used to be somewhat grueling, especially if you didn’t have a truck to haul it to your house from the mattress store. Now that online shopping has taken over the consumer market, the mattress industry has wanted a piece of the pie and has introduced mail order mattresses like bed-in-a-box brands and brands who are exclusive to online.

Buying a mattress over the internet certainly has its perks. First and foremost, you don’t have to deal with having to transport it to your home because it’ll be shipped to your front door for free. You can even find brands who offer free white glove delivery, which means they’ll carry your mattress inside and set up your bed for you. This is especially helpful for older individuals who struggle with heavy lifting due to joint pain or other disabilities that make heavy lifting nearly unbearable.

You can also find some great incentives online like a risk-free trial period and warranty policy. Some are more generous than others, but they’re usually better than the standard 30-day return policy and other perks you get when you buy in-store.

Tip 3: Buy A Bed with Coils

Have you ever noticed that you wake up feeling well rested after sleeping in a hotel bed? That’s because a lot of the luxury hotels use mattresses with innerspring units or coils. A standard all-foam bed should last you about 8 years or so, but you can usually get a few more years out of a hybrid mattress. A hybrid mattress is a bed that utilizes two or more types of materials — like a hybrid car which uses both gas and electricity to run. If you’re going to spend good money on a mattress, you don’t want something that’s going to show heavy impression marks after year 5. Beds constructed with foam and an innerspring system tend to be more durable, more supportive, and longer lasting. Accordingly, if you’re looking to get the best bang for your buck, you may want to consider buying a hybrid bed.

Tip 4: Take Your Specific Needs into Account

Regardless of age, you should always take your sleeper type into consideration when you’re searching for a new mattress. If you spend most of the night on your side, you’ll want a mattress on the soft side of the spectrum so it can relieve the pressure points along the side of your body. For those of you who sleep on your back or stomach, firmer mattresses are more ideal because they provide support for your spine and keep your back in neutral alignment.

Older adults with specific health conditions should also look for a mattress that caters to their specific needs. This is when we suggest you talk to your primary health care physician, as they can recommend the most accommodating beds that fit your circumstances. For example, those who suffer from back pain or fibromyalgia may want something on the firmer side of the spectrum to keep their back properly supported. If you have tender joints or an injured hip, however, you might benefit from a mattress on the softer side for extra pressure relief.

Whatever the issue is, just make sure you consult your doctor before you make any final decisions on a new mattress.

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Questions from a Reader on sorting out access to health care after retirement

Q&A from a Reader

First, thank you so much for your blog.

The first time I contacted you, I was asking for advice on how to convince my husband to pick up our stakes and move to Mexico. I think it was about two years ago. In fact, you used my emailed question in a blog article soon after.

Well guess what- we have been living in Tijuana for almost 6 months!  There have been many changes and hurdles that we are overcoming, and right now I think I could use some of your wisdom.

My husband is disabled and on Medicare, so he is covered as far as health insurance is concerned. I work remotely for an American company and pay insurance premiums for insurance I can’t use- it is an HMO that covers the Virginia area, where we were located before. During open enrollment next February I can switch to a very expensive PPO plan.

I have been researching other options and am just getting more confused and frustrated. I am reading your blog right now regarding insurance, but still at a loss.

I could surely use some guidance and focus and direction in this. I hope you can at least help me narrow down the possibilities that would work for me.

I look forward to hearing from you.

Again, thank you both for all that you have shared over the years- it has been so helpful!

Yours,

Rachel

Hi Rachel,

Thanks for taking the time to write.

Congratulations on your move to Tijuana! I hope you are enjoying your new location…

First, let me say that the access-to and paying-for health care topic is complex. Not only that, but it is very personal and each one of us has to decide which approach works best for us.

I have a couple of questions for you that might get your ideas rolling —

You mention that you are living in Mexico — but your husband is on Medicare. You did know that Medicare is only useful to you if you are living in the States? Of course, I could be wrong, since Tijuana is so close, perhaps that city takes Medicare payment or they have an agreement with the US.  Or perhaps you thought in order to obtain health care service, you would simply cross the border into the US.

You might consider applying for Mexican residency (you don’t have to give up your American citizenship, and you would still keep your American passport). In this way, you would be eligible for the Mexican National Insurance Program (Seguro Popular). You don’t mention your age, but if you are fairly healthy (no pre-existing conditions) Mexico also has IMSS which is a higher quality health care for residents. You could apply for that also – but you can only be on one of the systems, not both.

You could perhaps develop a personal HSA and instead of paying for US-based insurance — put your insurance premiums into an account, and then draw from that. Then you could take advantage of Mexico’s hospitals and clinics, paying out of pocket. — For instance, if you pay $10,000 yearly for your US-based health insurance you would simply “Go Naked” and place that previously-used-money-for-premiums into an account earmarked for health care. There is a lot of medical care you can get in Mexico for $10-$20 thousand dollars.

At some point you would qualify for Medicare yourself, and the years you have placed that money into an account for care would accumulate until you qualify and have Medicare take over. And you would still have that money, instead of paying an insurance company for coverage. (See Buying Medical Care vs Buying Medical Insurance )

You didn’t mention if you are healthy or have health issues, but in either case, you must have already seen the price differences between prescriptions and office visits in Tijuana versus the States.

Of course, you could take a look at our Medical Health Insurance Page and look for a policy that is world-wide. And I would suggest taking a look at these articles below for insight, as well as taking a look at our Medical Tourism Page.

Rachel, I think it’s a matter at looking at your options, and then deciding what your risk tolerance is, and how much you want to pay to access medical care.

Let us know if you have any other questions. I hope you find the information that I have given to you to be useful.

Thanks again for taking the time to write.

Best!

Akaisha

What are you guys doing for health insurance?

Going Naked

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