Can I retire young in Mexico?

I'm a 40 year old single male who inherited $1 million (USD). Is that enough to retire in Mexico and live there without working? I would want a beach house in a civilized area (restaurants, theatres, etc.) Has anyone else done this? Do I have to give up my US citizenship (I do not want to do so)? I would be willing to work to pay living expenses. I could teach English, for example.

Public Comments

1. Thats about 12 million pesos. You will live like a king
2. That's not enough to retire anywhere. You should try saving up some more.
3. No, 1 million dollars would not carry you into your golden age, save one million more then we will talk, and yes, you can have dual citizenship with Mexico, but I don't know if Mexico will let you partake of their citizenship
4. you can
5. It's possible if you buy a modest home and are willing to put some money in an American high interest savings account.The dollar is worth $1 to 11 pesos.Banks in rural areas are known to close over night without warning!
6. Justy make sure you get permission from the cartels, becasue if you don't they will think your are going to try and compete with them,,???
7. You can retire in Mexico at any age. You do not give up your U.S. citizenship. You do have to have a visa that is renewable. I am an American living in Central America. Americans usually are banned from working in another country. Budget wisely and invest a lot of your million in Euros and you should do fine. Suggest you have a look around in Mexico. It's all a trade off.
8. Yes u can i am from a place in Mexico called ajijic and their is allot of Americas that live there it's a beautiful place and every body gets along fine, but just be care-full at were u want to retire because not all Mexico is safe but Jalisco is
9. You would be way better off considering Costa Rica. You're less likely to be killed or have your home confiscated by the government by the "Viva Revolution" mentality.