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

[Anonymous]

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Anonymous wrote:I grew up in Eastern European country and came to US in my early 20s. Now I'm 50. I also lived in Western Europe for 2 years before I came to US. I still like US better for the following reasons:
1. USA is a very dynamic country, it has that energy that European countries are missing; opportunities are much better if you are ambitious and hard working- you'll succeed much faster here
2. People here are much more open, friendlier, funny, easy going
3. Lots of people from all over the world ( especially in DC/Northern Virginia)
4. Shopping is so much more fun and cheaper, maybe not now anymore, because the quality went downhill a lot for the last 10 years
5. Less bureaucracy
6. You can choose to live in a colder or hot climate within the same country which was impossible in my country.

As a first generation immigrant, after my first initial hard work and dedication, I proudly say, that I obtained bachelor's degree, got government job, have house ( paid off), and no debt. Yes, I'm married and my spouse brings money too, so that helps. I travel to visit my family in Europe, go cruising and have a good life. I'm not denying that this country has no issues, but just remember that every country has some issues.

But you are comparing life with Eastern Europe. Western Europe is very different in terms of wealth, income and open society. Comparing Hungary or Poland or Bulgaria with Switzerland, Austria or Germany is a joke.

Did you read PP? They said they also lived in Western Europe. You people are insufferable. Don't know why you can't just say you have a different opinion rather than treat the PP like they're stupid for having a different opinion.

She said she lived there for 2 years or so. That’s not enough time to learn the language well and establish roots. She’s certainly no authority to speak for life in Western Europe - goodness, she can’t even tell us which countries she supposedly lived in.

You prove my point. Anyone who disagrees with you mist be stupid, poor, ignorant, whatever. Just accept that people have different opinions rather than shitting on them. If you're the typical expat, thank God I don't live abroad.

So why don’t you tell us in which countries you lived before you moved here?

[Anonymous]

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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.

So she is poor, likely uneducated, and is from one of the worst cities in Colombia. Not surprising she would want to stay.

There are also a decent number of striver type Colombians who now reside in Florida. Most Colombians with money and especially single guys hate the US. It's a combination of unattractive women and the monotonous daily live that is a huge turn off.

Or it's possible that she just has a different opinion than you. If course, you're a jackass, so you feel the need to both denigrate anyone who disagrees with you and act like an expert on what every single Colombian wants.

+1. Haven't we all accepted by now that groups and sub-groups are not monoliths. If you are a single Colombian guy, speak for yourself.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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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.

So she is poor, likely uneducated, and is from one of the worst cities in Colombia. Not surprising she would want to stay.

There are also a decent number of striver type Colombians who now reside in Florida. Most Colombians with money and especially single guys hate the US. It's a combination of unattractive women and the monotonous daily live that is a huge turn off.

Or it's possible that she just has a different opinion than you. If course, you're a jackass, so you feel the need to both denigrate anyone who disagrees with you and act like an expert on what every single Colombian wants.

+1. Haven't we all accepted by now that groups and sub-groups are not monoliths. If you are a single Colombian guy, speak for yourself.

+100.

I’ve spent a lot of time in Colombia and… shocking for a country do 50 million…. All types are present.

Some would give anything to come to the US; others are happy at home. And so on. And really how could it be otherwise?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

So she is poor, likely uneducated, and is from one of the worst cities in Colombia. Not surprising she would want to stay.

There are also a decent number of striver type Colombians who now reside in Florida. Most Colombians with money and especially single guys hate the US. It's a combination of unattractive women and the monotonous daily live that is a huge turn off.

Or it's possible that she just has a different opinion than you. If course, you're a jackass, so you feel the need to both denigrate anyone who disagrees with you and act like an expert on what every single Colombian wants.

+1. Haven't we all accepted by now that groups and sub-groups are not monoliths. If you are a single Colombian guy, speak for yourself.

+100.

I’ve spent a lot of time in Colombia and… shocking for a country do 50 million…. All types are present.

Some would give anything to come to the US; others are happy at home. And so on. And really how could it be otherwise?

This is the case in any country. America (or anywhere that's not their home) is not that attractive to everyone.

[Anonymous]

https://www.nytimes.com/2023/03/17/realestate/europe-homes-sale-americans-lisbon-barcelona.html?smid=nytcore-ios-share&referringSource=articleShare

Nyt yesterday

Americans decamping for Europe

This is going to accelerate

[Anonymous]

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

I'm American that's why. I travel and visit but don't see how I could adapt to other countries

[Anonymous]

Anonymous wrote:

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.

So she is poor, likely uneducated, and is from one of the worst cities in Colombia. Not surprising she would want to stay.

There are also a decent number of striver type Colombians who now reside in Florida. Most Colombians with money and especially single guys hate the US. It's a combination of unattractive women and the monotonous daily live that is a huge turn off.

I live in both worlds, as I’m a citizen thanks to the EB-5 program. I can tell you anyone who comes to the US as an AuPair from South America is poor.

I can tell you that most middle to upper class Colombians are not trying to come to the US. But being poor in Colombia is pretty bad. What I see most Colombians doing is working hard in the US and using their dollars to eventually go back to Colombia. Even a modest SS income is dramatic.

We hold dual citizenship because of the constant shifting political climate and the threat of leftists. Our kids have been half educated in the US and Colombia (international school in Colombia to keep on the US holiday schedule). They do prefer Colombia mainly because the lifestyle is much better and our family is large and tight. Much more community in Colombia and much more fun. The US is very stiff and a bit dull.

I definitely would not say most middle and UC Colombians would come to the us if they had the chance.

[Anonymous]

Anonymous wrote:Because I have friends and family here, and one of the biggest predictors of longevity and happiness is ties to friends and family.

Adding excellent medical and dental care too. Med care can be had overseas but helpful if one speaks the language. Dental care I know less about but prefer to stay with known providers.

[Anonymous]

Anonymous wrote:Being an expat is hard and lonely.

It depends where you live. Being old in the U.S. can also be hard and lonely. It's situational

[Anonymous]

Anonymous wrote:Being an expat is hard and lonely.

It’s this, OP. Social connection is important in happiness and longevity.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Being an expat is hard and lonely.

It depends where you live. Being old in the U.S. can also be hard and lonely. It's situational

+1 It's much easier to make friends in a lot of other countries, especially in Latin America. There also tends to be a lot more going on, which is a lot different from dull suburban life in the US.

[Anonymous]

Once you have a net worth of $10 million, you can afford to live here comfortably. Why leave? I can see moving to California one day for better weather (hell no to Florida).
We have about a $12-$13 million net worth but we get to be in the same country as family, my husband still works and our kids are in school and sports. I’m not giving that up.

[Anonymous]

Anonymous wrote:Once you have a net worth of $10 million, you can afford to live here comfortably. Why leave? I can see moving to California one day for better weather (hell no to Florida).
We have about a $12-$13 million net worth but we get to be in the same country as family, my husband still works and our kids are in school and sports. I’m not giving that up.

A lot of people don't like the lifestyle and culture here in the US. The US is a great place to make money, but it's certainly lacking in other areas. And 99% of Americans don't have 10 mil. My pension is about 40k a year. To live in the US, I would have to work at least 30 hrs a week. If I lived in South America, I could easily live off of 30k a year.

[Anonymous]

I have a net worth right in the middle of this range. We stayed here after deciding to retire early (early 50s). We also bought a second home a couple hours west of the city. We go back and forth between our two houses and also travel abroad quite a bit for several weeks at a time (something we had to put on hold during covid but we have since resumed).

We see no reason to pull up roots completely and move thousands of miles away. Why would we do that? Our family and friends are here, there’s a whole lot to do here, and health care is good here.

[Anonymous]

The cities I mentioned in the op don’t have nashville or sandy jook happen

Even if you are well beyond 10millipn, there are certain things money can’t insulate you from In America