Since the thread has moved from when to go to where, I thought I'd add my 2 cents re where, in somewhat personal experience with regards to Mexico.
My dad decided to get a residencia (permanent residency) 6-8 years ago. There were a couple types of residencias available, if I recall, but most seemed to have the same requirements - assets or income. As he was a retiree, all he had to do was prove income of a minimum of $1,000/month (easily well over minimum with either SS and union pension) or $100,000 in assets. A 4 page application form, $35 fee, and two appointments at the consulate - both we were in and out in under half an hour. Paperwork was processed in under two weeks.
After something like 5 years as a resident he was eligible to vote in Mexico, even.
Pros & Cons: Cost of living is dependent on location. If you stay away from the resort areas and perhaps the areas whose prices have been driven up by large expat communities it is very good. My dad lived on an island south of Cancun, island living was a little pricier than average but still 1/3 the cost of living in the US. Food, housing is generally 1/3 the cost or more until you get into luxury. However, imported items like tech and household things can be limited in selection and not cheap at all, same or slightly more than the US. Healthcare is good and amazingly inexpensive. Internet was better than mine when I lived in the SF Bay Area and 1/3 the price.
If you're out of the main tourist and/or US dollar impacted drug/gun corridors, it's just as safe as anywhere else. Meaning, stay out of bad areas & be mindful of basic security. At the time he got this residency, I lived in Oakland, CA, which to my mind was generally much less safe than the area my dad moved to.
The biggest concerns people have that I see is its proximity to the US and its own political instability. All I can say to that is, from 15 years plus of familiarity with Quintana Roo & friendships with people there is that Mexicans very definitely do not feel Mexico is a satellite of the US, like a lot of Americans seem to view it. Trump's first term reinforced that and there seems to be a surge in sentiment from then on to separate Mexico from the US in various political etc ways, even if we are each others' biggest trading partners. I don't think the Trump mess is as likely to splash into Mexico as it could into Canada, who has its own rightward trend & unfortunate stock of Trump fans.
As for Trump trying to start something with Mexico - I have no conception how likely that is. But I do know that Mexicans in general do not conflate the US government and the general US person they meet. No one likes assholes of course, but if you treat people like people, most will return the favor.
Re Mexico's politics and corruption. Well, unfortunately their government is run by human beings, hence flawed. The current president from what I understand is more left leaning. (As an aside, and a woman, which is more than we can say the US is capable of electing.) I do not know know how stable this regime is, but my Mexican friends don't seem to be too worried. All I can do is look at the economy, and my 15 years of experience sees it growing. My father said Mexico now reminds him of the US post WWII boom - roads and schools being built, people able to buy homes & send kids to college for the first time in their family's history etc. The one negative factor I see (and don't know enough to put much stock into it) is that the dollar to peso conversion has strenthened. A year ago it got down to 15 pesos to the dollar and is now back to 19 or a bit more per dollar. (The past 15 years average has been about 18/$1.)
Corruption is also everywhere humans exist. I personally prefer the corruption in a place like Mexico, where a couple hundred will take care of a speeding ticket and befriending the local mayor will help you get building permits to the US where you have to be a billionaire for your voting preference to matter. YMMV
There are scammers and petty thieves in Mexico and of course they're looking at "rich" expats as fat juicy targets. However, in the US - wanna buy a Trump NFT anyone? Do you park on the street in Oakland? Again, I think this stuff is universal. The solution is learn the friggin' language and build your community relationships there. Make friends with your neighbors whether Mexican nationals or other expats - friends look out for each other - and real neighborhoods are still a thing there.
TL; DR: I'd move to Mexico now in a heartbeat if I could find a way to have a decent remote income. Unfortunately, my job skills are not really translatable out of California, let alone outside the US & I don't have the assets to support myself otherwise.