Marc Millers Continuing Plans for the Move to Mexico #079
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In this episode, Marc covers the steps of relocating abroad and securing the resources for safe and healthy living for his family while running his business full-time.
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Key Takeaways:
[1:14] Marc welcomes you to Episode 79 of the Repurpose Your Career podcast and invites you to share this podcast with like-minded souls. Please subscribe, share it on social media, write an honest iTunes review, or tell your neighbors and colleagues.
[1:46] Next week, Marc will interview Carol Fishman Cohen, CEO and Co-Founder of IRelaunch. IRelaunch is the leader in career re-entry programming. IRelaunch works directly with 40 Blue Chip companies to develop, pilot, source for, present in, and publicize re-entry internship programs and hiring, focusing on those with career breaks.
[2:28] In this episode, Marc will talk about the next steps the Millers will be taking in becoming expats in Mexico. But first, Marc announces plans for another \\u201cCan You Repurpose Your Career?\\u201d series, similar to Episodes 48-51 from October 2017.
[2:57] If you would like to go through this process anonymously with Marc on the podcast, please email Marc at Podcast@CareerPivot.com.
[3:12] For his new listeners, Marc reviews the purpose for his family\\u2019s planned move to Mexico. For the last year, Marc has been chronicling his experiences relating to the move. Marc blogs about it on his website and covers it in his podcast. Listen to episodes 55, 66, and 74 for background.
[4:19] Marc\\u2019s expat journey began back in October 2016 when he received the 50% rate increase for his Blue Cross/Blue Shield health insurance. Marc and his wife are both in their 60s and self-employed. The Affordable Care Act was not affordable for them, but it did allow them to get insurance. Then came the election and uncertainty about the ACA.
[5:16] At the same time, Marc\\u2019s sales pipeline completely dried up. By the first half of 2017, Marc\\u2019s business was off 60%. Marc and his wife focused on what they could control. Over the years, they had talked about becoming expats, so they decided to do that.
[5:57] In the Spring of 2017, they visited San Miguel de Allende, in Mexico. On a trip to Cuenca, Ecuador, Marc\\u2019s wife collapsed. Back in the U.S., she went into the hospital. The bills were expensive. Marc started his community membership website then.
[6:30] They made their first trip to Ajijic, Mexico on Lake Chapala, the largest lake in Mexico, close to the Guadalajara airport. Guadalajara is the second largest city in Mexico. There are many convenient flights there. You can do just fine in Ajijic without learning Spanish.
[7:50] Marc posted a question on the Chapala.com web board looking for an endocrinologist. Within 48 hours he had 28 responses.
[8:08] In March, Marc and his wife rented a garage apartment in Ajijic for four weeks. This was $825 for the four weeks. It was close to the main square and the farmers\\u2019 market. Their goal was to travel there and behave like they were living there. In four weeks, Marc had lost three pounds with no formal exercising. The food was healthy.
[10:06] Marc talks about the next steps. Marc\\u2019s wife leaves her job at the end of May, after 15 years. She\\u2019s been making $25K working two days a week.
[11:11] Marc and his wife want to keep their taxable income this year under $61K. One dollar over that means they would not get ACA tax credits. Your healthcare options for retiring pre-Medicare are getting pretty ugly.
[12:15] Marc\\u2019s next step is to meet with a Medicare consultant. Medicare does you no good outside the states, but you get a big penalty if you don\\u2019t apply at age 65.
[12:37] Marc is canceling all their mail catalog subscriptions and magazines. They will rent a house from the end of June through the end of September, halfway between Ajijic and Chapala.You can\\u2019t just drive across the border. You need a TIP, or temporary import permit, and your title. You also need Mexican car liability insurance.
[14:38] This time they will drive down with a hired driver.
[15:32] Marc will probably sell their second car. They are making Mexican doctors appointments before they leave. They are getting some documents certified, like their marriage certificate.
[16:29] They will bring their cats with them. Pets need an international form signed by the vet within 10 days before you hit the border. They have Marc\\u2019s mother\\u2019s ashes in an urn and they\\u2019re not sure what to do with them.
[19:14] Don\\u2019t drive at night in Mexico.
[19:48] Marc talks about the doctor\\u2019s appointments they will have. He also talks about \\xa0setting up a long-term apartment rental for the next trip in January.
[20:39] Marc will dispose of just about everything when they get back to the States, and put a few things in storage. They will meet again with their Medicare consultant. They will meet with tax lawyers and CPAs to make sure everything is in order. They need to learn what kind of Visa they will need.
[21:49] Schwab has a really good money market fund where they refund all out-of-country ATM fees. They also need to establish an Austin-based mailing address. This allows Marc to maintain his Austin-based business. Marc describes the services of a mailbox company.
[22:50] Marc\\u2019s plans are to be in Ajijic on January 2019.
[22:58] Marc notes the tax implications of being out of the country most of the year and how much money you can earn abroad before it is taxed.
[23:45] Go to the show notes and leave Marc a comment or question and he will get back to you.
[24:02] Marc\\u2019s goal is to be out of the country for 12 months next year, except for return visits. They will continue to explore various cities and areas of Mexico, Panama, Belize and Costa Rica.
[26:23] Check back next week, when Marc will interview Carol Fishman Cohen CEO and Co-Founder of IRelaunch.
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Mentioned in This Episode:
\\u201cHow to Move Abroad and Take Your Job with You\\u201d
CareerPivot.com/Episode-48 \\u201cCan Tim Repurpose His Career? Part 1\\u201d
CareerPivot.com/Episode-49 \\u201cCan Tim Repurpose His Career? Part 2\\u201d
CareerPivot.com/Episode-50 \\u201cCan Tim Repurpose His Career? Part 3\\u201d
CareerPivot.com/Episode-51 \\u201cCan Tim Repurpose His Career? Part 4\\u201d
CareerPivot.com/Episode-55 \\u201cWhy The Millers are Moving to Mexico and How They Will Do It!\\u201d
CareerPivot.com/Episode-66 \\u201cMarc Miller Examines His Uncertainty About Moving to Mexico\\u201d
CareerPivot.com/Episode-74 \\u201cMarc Miller\\u2019s Journey from Procrastinating Introvert to Enthusiastic Expat\\u201d
Blue Cross Blue Shield
\\u201cWhen Uncertainty Strikes, Focus on What You Can Control.\\u201d
Roger Whitney: Retirement Answer Man Podcast Episodes 212, 213, 214
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