While retirement is always associated with a lifestyle of recreation and exploration, some retirees are taking this more literally than others. The Dallas Morning News recently detailed the adventures and lives of baby boomer retirees who have set sail for Mexico, both for the fun of it and because doing so saves them quite a bit in taxes and other expenses.
Living on a boat means not having a mortgage payment, and it also means not having to pay property taxes. This is especially the case in Mexico, where the cost of living is far lower than it is in the United States. For someone on a fixed income, that's an appealing proposition.
Retiring to boats is nothing new, but the source states that it will become a major trend in the next few years, with boating industry observers predicting that ownership will jump from 10 million to 17 million.
Something that boaters should realize, however, is that undertaking a voyage to Mexico — or anywhere more than a few miles from home — requires a wealth of boating knowledge. It's also much easier to accomplish if you have a chartplotter, GPS, radio and other essential marine accessories that can help you navigate unfamiliar waters.
If you're considering retiring and living on your boat, we highly recommend browsing the extensive inventory of marine technology at ePal. We have all the tools you'll need to make sure that your oceanic retirement is both safe and fun. Whether you'll be on a high-powered yacht or a small sailboat, your best resource for equipment and supplies is ePal.