If you have 5-10 million net worth, why do you stay here?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Have you lived in S America? Or Latin America at all? I have, and went to school with many kids who were sent to US by family for safety. High net worth in many countries is a kidnapping concern. You need extra security and bodyguards. It’s really unsettling…and expensive.

Don’t get me wrong, I love Mexico, BR, Arg, etc, but with high net worth they’d be no-go’s for retirement

Sorry my op was a bit all over the place -

I was illustrating that I don’t find the us that different than SA except for better economic opportunities…

…so for people/families that have hit networths of 5-10 million, why aren’t they buying their way into specific European towns with high QoL like the ones I mentioned

many are headed to Medellín

Yeah, but Medellin doesn't really attract that many families from the US. It's mostly single middle class guys like retired cops, firefighters, etc. But lately lots of digital nomad types are everywhere, but they usually stick around for a year or two max. You can live a pretty nice lifestyle on 20k/yr, so no need for millions

I have to laugh about previous posters talking about kidnappings and bodyguards! That wasn't even that much of a threat in the late 90's.

Medellin is great/ but it’s also not a great tax regime so it mostly appeals to those flying under the tax radar.

Their tax rules are a mess. For example, sometimes you have to pay the "wealth tax" and sometimes you don't. Some ex-pats seem to get hammered and others not so much. It's a lot easier to bend the rules in Colombia, but you are pretty much guaranteed to pay high taxes if you follow all the rules like we do in the US.

Yeah, so it’s not a place for the relatively well off folks that are the subject of the post- I don’t think people with meaningful assets want to roll the dice with the taxman.

On the other hand, I have a number of friends in Colombia and Argentina and they are declaring nothing that is back home- which is fine but requires some risk tolerance

With so many moving from Colombia and Argentina to the US and Spain, it is quite funny that someone thinks Americans should move to Medellin 😀😀😀

I kind of doubt you spend any time in Colombia. Because if you did, you would know that very few UMC or even middle classs Colombians want to live in the US. Colombia is a million times better than the US in terms of lifestyle. And socially, there is no comparison. Tell me where in the US you can live on 35k a year that has weather in the mid 70's year round?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Have you lived in S America? Or Latin America at all? I have, and went to school with many kids who were sent to US by family for safety. High net worth in many countries is a kidnapping concern. You need extra security and bodyguards. It’s really unsettling…and expensive.

Don’t get me wrong, I love Mexico, BR, Arg, etc, but with high net worth they’d be no-go’s for retirement

Sorry my op was a bit all over the place -

I was illustrating that I don’t find the us that different than SA except for better economic opportunities…

…so for people/families that have hit networths of 5-10 million, why aren’t they buying their way into specific European towns with high QoL like the ones I mentioned

many are headed to Medellín

Yeah, but Medellin doesn't really attract that many families from the US. It's mostly single middle class guys like retired cops, firefighters, etc. But lately lots of digital nomad types are everywhere, but they usually stick around for a year or two max. You can live a pretty nice lifestyle on 20k/yr, so no need for millions

I have to laugh about previous posters talking about kidnappings and bodyguards! That wasn't even that much of a threat in the late 90's.

Medellin is great/ but it’s also not a great tax regime so it mostly appeals to those flying under the tax radar.

Their tax rules are a mess. For example, sometimes you have to pay the "wealth tax" and sometimes you don't. Some ex-pats seem to get hammered and others not so much. It's a lot easier to bend the rules in Colombia, but you are pretty much guaranteed to pay high taxes if you follow all the rules like we do in the US.

Yeah, so it’s not a place for the relatively well off folks that are the subject of the post- I don’t think people with meaningful assets want to roll the dice with the taxman.

On the other hand, I have a number of friends in Colombia and Argentina and they are declaring nothing that is back home- which is fine but requires some risk tolerance

With so many moving from Colombia and Argentina to the US and Spain, it is quite funny that someone thinks Americans should move to Medellin 😀😀😀

I kind of doubt you spend any time in Colombia. Because if you did, you would know that very few UMC or even middle classs Colombians want to live in the US. Colombia is a million times better than the US in terms of lifestyle. And socially, there is no comparison. Tell me where in the US you can live on 35k a year that has weather in the mid 70's year round?

May I remind you of this thread's title:

"If you have 5-10 million net worth..."

[Anonymous]

Another example for people saying that at this level of wealth, living in the us is fine and insulates yourself from the worst:

In the political forum people posted about how the food supply is so bad in the us it causes food allergies you don’t get in Israel or Europe

Shopping at Whole Foods 24/7 doesn’t protect you from that

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Have you lived in S America? Or Latin America at all? I have, and went to school with many kids who were sent to US by family for safety. High net worth in many countries is a kidnapping concern. You need extra security and bodyguards. It’s really unsettling…and expensive.

Don’t get me wrong, I love Mexico, BR, Arg, etc, but with high net worth they’d be no-go’s for retirement

Sorry my op was a bit all over the place -

I was illustrating that I don’t find the us that different than SA except for better economic opportunities…

…so for people/families that have hit networths of 5-10 million, why aren’t they buying their way into specific European towns with high QoL like the ones I mentioned

many are headed to Medellín

Yeah, but Medellin doesn't really attract that many families from the US. It's mostly single middle class guys like retired cops, firefighters, etc. But lately lots of digital nomad types are everywhere, but they usually stick around for a year or two max. You can live a pretty nice lifestyle on 20k/yr, so no need for millions

I have to laugh about previous posters talking about kidnappings and bodyguards! That wasn't even that much of a threat in the late 90's.

Medellin is great/ but it’s also not a great tax regime so it mostly appeals to those flying under the tax radar.

Their tax rules are a mess. For example, sometimes you have to pay the "wealth tax" and sometimes you don't. Some ex-pats seem to get hammered and others not so much. It's a lot easier to bend the rules in Colombia, but you are pretty much guaranteed to pay high taxes if you follow all the rules like we do in the US.

Yeah, so it’s not a place for the relatively well off folks that are the subject of the post- I don’t think people with meaningful assets want to roll the dice with the taxman.

On the other hand, I have a number of friends in Colombia and Argentina and they are declaring nothing that is back home- which is fine but requires some risk tolerance

With so many moving from Colombia and Argentina to the US and Spain, it is quite funny that someone thinks Americans should move to Medellin 😀😀😀

I kind of doubt you spend any time in Colombia. Because if you did, you would know that very few UMC or even middle classs Colombians want to live in the US. Colombia is a million times better than the US in terms of lifestyle. And socially, there is no comparison. Tell me where in the US you can live on 35k a year that has weather in the mid 70's year round?

Middle class Colombians would flood the us if there was free movement of labor. There would be a massive sucking sound north

You are right that Rich ones wouldn’t…rolos living in the north side of bogota or in poblado Medellin would stay 100%

This is off topic tho.

[Anonymous]

Anonymous wrote:Another example for people saying that at this level of wealth, living in the us is fine and insulates yourself from the worst:

In the political forum people posted about how the food supply is so bad in the us it causes food allergies you don’t get in Israel or Europe

Shopping at Whole Foods 24/7 doesn’t protect you from that

This is just a lie. There are no such issue in the US. Rich or poor. Having lived in Europe and South America there is no where as nice as the us from LMC to ultra wealthy. Even poor is better here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Have you lived in S America? Or Latin America at all? I have, and went to school with many kids who were sent to US by family for safety. High net worth in many countries is a kidnapping concern. You need extra security and bodyguards. It’s really unsettling…and expensive.

Don’t get me wrong, I love Mexico, BR, Arg, etc, but with high net worth they’d be no-go’s for retirement

Sorry my op was a bit all over the place -

I was illustrating that I don’t find the us that different than SA except for better economic opportunities…

…so for people/families that have hit networths of 5-10 million, why aren’t they buying their way into specific European towns with high QoL like the ones I mentioned

many are headed to Medellín

Yeah, but Medellin doesn't really attract that many families from the US. It's mostly single middle class guys like retired cops, firefighters, etc. But lately lots of digital nomad types are everywhere, but they usually stick around for a year or two max. You can live a pretty nice lifestyle on 20k/yr, so no need for millions

I have to laugh about previous posters talking about kidnappings and bodyguards! That wasn't even that much of a threat in the late 90's.

Medellin is great/ but it’s also not a great tax regime so it mostly appeals to those flying under the tax radar.

Their tax rules are a mess. For example, sometimes you have to pay the "wealth tax" and sometimes you don't. Some ex-pats seem to get hammered and others not so much. It's a lot easier to bend the rules in Colombia, but you are pretty much guaranteed to pay high taxes if you follow all the rules like we do in the US.

Yeah, so it’s not a place for the relatively well off folks that are the subject of the post- I don’t think people with meaningful assets want to roll the dice with the taxman.

On the other hand, I have a number of friends in Colombia and Argentina and they are declaring nothing that is back home- which is fine but requires some risk tolerance

With so many moving from Colombia and Argentina to the US and Spain, it is quite funny that someone thinks Americans should move to Medellin 😀😀😀

I kind of doubt you spend any time in Colombia. Because if you did, you would know that very few UMC or even middle classs Colombians want to live in the US. Colombia is a million times better than the US in terms of lifestyle. And socially, there is no comparison. Tell me where in the US you can live on 35k a year that has weather in the mid 70's year round?

Middle class Colombians would flood the us if there was free movement of labor. There would be a massive sucking sound north

You are right that Rich ones wouldn’t…rolos living in the north side of bogota or in poblado Medellin would stay 100%

This is off topic tho.

MC every other country would flood here if they could.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Have you lived in S America? Or Latin America at all? I have, and went to school with many kids who were sent to US by family for safety. High net worth in many countries is a kidnapping concern. You need extra security and bodyguards. It’s really unsettling…and expensive.

Don’t get me wrong, I love Mexico, BR, Arg, etc, but with high net worth they’d be no-go’s for retirement

Sorry my op was a bit all over the place -

I was illustrating that I don’t find the us that different than SA except for better economic opportunities…

…so for people/families that have hit networths of 5-10 million, why aren’t they buying their way into specific European towns with high QoL like the ones I mentioned

many are headed to Medellín

Yeah, but Medellin doesn't really attract that many families from the US. It's mostly single middle class guys like retired cops, firefighters, etc. But lately lots of digital nomad types are everywhere, but they usually stick around for a year or two max. You can live a pretty nice lifestyle on 20k/yr, so no need for millions

I have to laugh about previous posters talking about kidnappings and bodyguards! That wasn't even that much of a threat in the late 90's.

Medellin is great/ but it’s also not a great tax regime so it mostly appeals to those flying under the tax radar.

Their tax rules are a mess. For example, sometimes you have to pay the "wealth tax" and sometimes you don't. Some ex-pats seem to get hammered and others not so much. It's a lot easier to bend the rules in Colombia, but you are pretty much guaranteed to pay high taxes if you follow all the rules like we do in the US.

Yeah, so it’s not a place for the relatively well off folks that are the subject of the post- I don’t think people with meaningful assets want to roll the dice with the taxman.

On the other hand, I have a number of friends in Colombia and Argentina and they are declaring nothing that is back home- which is fine but requires some risk tolerance

With so many moving from Colombia and Argentina to the US and Spain, it is quite funny that someone thinks Americans should move to Medellin 😀😀😀

I kind of doubt you spend any time in Colombia. Because if you did, you would know that very few UMC or even middle classs Colombians want to live in the US. Colombia is a million times better than the US in terms of lifestyle. And socially, there is no comparison. Tell me where in the US you can live on 35k a year that has weather in the mid 70's year round?

May I remind you of this thread's title:

"If you have 5-10 million net worth..."

Doesn't change a thing darlin. I guess you could buy a nicer place, but not much else changes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Let's blow your mind further: We're Europeans who come from a country with universal, affordable and pretty decent healthcare, and we STILL want to live here for now. Just like all our international friends. We complain about the healthcare industry here and the lack of gun control, but the reality is...

... there's a lot more economic opportunity for us and our kids in this country. My husband was offered half of what he makes here, when he looked for a job in our capital city, which has a higher cost of living than the DC area! And the job was not exactly at the forefront of research - because it's only in certain parts of the world (NIH, certain Asian countries) that his pointy field actually exists.

The USA also has a lot more support for people who are outliers. Our eldest has special needs that would never have been accommodated in private or public schools back home and our youngest is gifted and needs acceleration. Our "wealthy" home country doesn't have the money for special programs - what they do is offer a good education to the average kid, but they don't have gifted or SN supports. Most of the world is decades behind on childhood development, psychiatric treatments, acceptance of disabilities in schools and the workplace, etc, compared to the USA. Not to mention, the USA has a lot more available meds than anywhere else in the world. They cost a fortune, but they exist. In our country, Adderall is illegal, and my thyroid medication is not manufactured or distributed.

That being said, cultural nostalgia and senior healthcare costs being what they are, we might retire in our home country, and leave the kids to work around the world as they please.

But I just want to point out that even for first world nationals like us, the USA has many attractions.

Kinda agree with this post. We are Indian and based on what I've seen, read, etc. the US is the least racist country in the world for a non-white person, and that includes all the non-white countries in the world. I know some of y'all won't agree but that's a different thread. It is also the country where one can make the most money (gross and after tax) for any given profession, especially white collar. We may also emigrate to India in retirement given better access to medical care and support infrastructure. The biggest challenges in the US are guns and lack of access to medical care. I know of a family where the doctor suspected colon cancer and prescribed a colonoscopy. The earliest they could get was 6 weeks later. They flew her to India, had the colonoscopy, found the cancer, did the surgery, recovered and back in 4 weeks! If those two issues are fixed, the US will be a true paradise. While we have the best insurance possible, it's a royal pain to schedule appointments, tests, follow ups, etc even as a young person. In India, I can see any specialist in town within a day or two and most are way, way more qualified (at least on paper) than the ones I normally see here.

Tl; DR - I stay here for the money and QOL as a young/middle aged person. In old age? TBD.

+1

Brown person here who votes R for the reasons you mention. People who talk about systemic racism need to go live in other countries as a brown person before spouting their ignorance.

+2 Another Indian here, though I do miss the services that is easily affordable with any middle class salary in India. comparatively cheap and decent quality services - beauty salon, massage therapist, drivers, household help, cheap home delivery. Hate the pollution, infrastructure, rat race love the festivals, food. Mixed bag for me

[Anonymous]

When you have money in the US, a lot of what is "wrong" with the country fails to affect you in any meaningful way. So why move?

We don't move, because this is home. We have friends and family here. Our daughter can have the best higher education here.

It has been my experience, based on both traveling, and having a friends circle that encompasses people from other parts of the world, that it is easier to integrate into society in the US than it is elsewhere, especially if you are a POC. A LOT of parts of Europe and SA are overtly or covertly racist, in a way that you are unlikely to encounter in your day to day life living in the DMV (but might if you moved elsewhere in the US, but it's a big country, and you have options).

Because I am from India, I can always go back there. We have roots there. I don't want to move back, because I don't feel at home there anymore. The crowds, the pollution, the noseyparkering, it's all a non-starter. I like my low-key life here, where I can be rich, and not only does no one know, they wouldn't care if they did.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Have you lived in S America? Or Latin America at all? I have, and went to school with many kids who were sent to US by family for safety. High net worth in many countries is a kidnapping concern. You need extra security and bodyguards. It’s really unsettling…and expensive.

Don’t get me wrong, I love Mexico, BR, Arg, etc, but with high net worth they’d be no-go’s for retirement

Sorry my op was a bit all over the place -

I was illustrating that I don’t find the us that different than SA except for better economic opportunities…

…so for people/families that have hit networths of 5-10 million, why aren’t they buying their way into specific European towns with high QoL like the ones I mentioned

many are headed to Medellín

Yeah, but Medellin doesn't really attract that many families from the US. It's mostly single middle class guys like retired cops, firefighters, etc. But lately lots of digital nomad types are everywhere, but they usually stick around for a year or two max. You can live a pretty nice lifestyle on 20k/yr, so no need for millions

I have to laugh about previous posters talking about kidnappings and bodyguards! That wasn't even that much of a threat in the late 90's.

Medellin is great/ but it’s also not a great tax regime so it mostly appeals to those flying under the tax radar.

Their tax rules are a mess. For example, sometimes you have to pay the "wealth tax" and sometimes you don't. Some ex-pats seem to get hammered and others not so much. It's a lot easier to bend the rules in Colombia, but you are pretty much guaranteed to pay high taxes if you follow all the rules like we do in the US.

Yeah, so it’s not a place for the relatively well off folks that are the subject of the post- I don’t think people with meaningful assets want to roll the dice with the taxman.

On the other hand, I have a number of friends in Colombia and Argentina and they are declaring nothing that is back home- which is fine but requires some risk tolerance

With so many moving from Colombia and Argentina to the US and Spain, it is quite funny that someone thinks Americans should move to Medellin 😀😀😀

I kind of doubt you spend any time in Colombia. Because if you did, you would know that very few UMC or even middle classs Colombians want to live in the US. Colombia is a million times better than the US in terms of lifestyle. And socially, there is no comparison. Tell me where in the US you can live on 35k a year that has weather in the mid 70's year round?

I've never been, but my former au pair really really wanted to stay here. She was from Bogota and did not have such a high opinion of the place.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Another example for people saying that at this level of wealth, living in the us is fine and insulates yourself from the worst:

In the political forum people posted about how the food supply is so bad in the us it causes food allergies you don’t get in Israel or Europe

Shopping at Whole Foods 24/7 doesn’t protect you from that

This is just a lie. There are no such issue in the US. Rich or poor. Having lived in Europe and South America there is no where as nice as the us from LMC to ultra wealthy. Even poor is better here.

They are starting to ration vegetables in the UK. They don't have fuel available to heat the greenhouses in the UK to grow off season vegetables.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Have you lived in S America? Or Latin America at all? I have, and went to school with many kids who were sent to US by family for safety. High net worth in many countries is a kidnapping concern. You need extra security and bodyguards. It’s really unsettling…and expensive.

Don’t get me wrong, I love Mexico, BR, Arg, etc, but with high net worth they’d be no-go’s for retirement

Sorry my op was a bit all over the place -

I was illustrating that I don’t find the us that different than SA except for better economic opportunities…

…so for people/families that have hit networths of 5-10 million, why aren’t they buying their way into specific European towns with high QoL like the ones I mentioned

many are headed to Medellín

Yeah, but Medellin doesn't really attract that many families from the US. It's mostly single middle class guys like retired cops, firefighters, etc. But lately lots of digital nomad types are everywhere, but they usually stick around for a year or two max. You can live a pretty nice lifestyle on 20k/yr, so no need for millions

I have to laugh about previous posters talking about kidnappings and bodyguards! That wasn't even that much of a threat in the late 90's.

Medellin is great/ but it’s also not a great tax regime so it mostly appeals to those flying under the tax radar.

Their tax rules are a mess. For example, sometimes you have to pay the "wealth tax" and sometimes you don't. Some ex-pats seem to get hammered and others not so much. It's a lot easier to bend the rules in Colombia, but you are pretty much guaranteed to pay high taxes if you follow all the rules like we do in the US.

Yeah, so it’s not a place for the relatively well off folks that are the subject of the post- I don’t think people with meaningful assets want to roll the dice with the taxman.

On the other hand, I have a number of friends in Colombia and Argentina and they are declaring nothing that is back home- which is fine but requires some risk tolerance

With so many moving from Colombia and Argentina to the US and Spain, it is quite funny that someone thinks Americans should move to Medellin 😀😀😀

I kind of doubt you spend any time in Colombia. Because if you did, you would know that very few UMC or even middle classs Colombians want to live in the US. Colombia is a million times better than the US in terms of lifestyle. And socially, there is no comparison. Tell me where in the US you can live on 35k a year that has weather in the mid 70's year round?

I've never been, but my former au pair really really wanted to stay here. She was from Bogota and did not have such a high opinion of the place.

I've worked in Bogota. Everyone (from all socio economic levels) wants to come to the US. If you have money your kids study in Florida or SCAD for college. If you have money you buy second homes in Florida and have your investments in the US. US investments are considered to be much safer.
Everyone flies to Florida to shop.

If you don't have money you come to the US for jobs.

My sister is currently helping an illegal immigrant from Colombia. He approached her in a western airport on December 27 desperate for help.
He has been working dishwashing and kitchen jobs that my sister finds and is very happy for the off the grid cash jobs that he can get in the US so he can send money to his family in Colombia.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Another example for people saying that at this level of wealth, living in the us is fine and insulates yourself from the worst:

In the political forum people posted about how the food supply is so bad in the us it causes food allergies you don’t get in Israel or Europe

Shopping at Whole Foods 24/7 doesn’t protect you from that

This is just a lie. There are no such issue in the US. Rich or poor. Having lived in Europe and South America there is no where as nice as the us from LMC to ultra wealthy. Even poor is better here.

My god, poor families are significantly better off in the US than most areas of the world. Obesity amongst all socioeconomic levels is rampant in the US due to the cheap food we have.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Another example for people saying that at this level of wealth, living in the us is fine and insulates yourself from the worst:

In the political forum people posted about how the food supply is so bad in the us it causes food allergies you don’t get in Israel or Europe

Shopping at Whole Foods 24/7 doesn’t protect you from that

This is just a lie. There are no such issue in the US. Rich or poor. Having lived in Europe and South America there is no where as nice as the us from LMC to ultra wealthy. Even poor is better here.

They are starting to ration vegetables in the UK. They don't have fuel available to heat the greenhouses in the UK to grow off season vegetables.

So? How does that impact the US? We have plenty of food and more fuel than we can use. You just made my point about it being better here.

[Anonymous]

Try buying property in Colombia and getting legal title. Sure you might be sold a property that someone else legally owns.

It can be tough to get clear title on real estate in Colombia.