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

[Anonymous]

Anonymous wrote:Because my kids are in school here. We are counting down the days. Absolutely hate it here. Most boring and uptight city imaginable.

+1

[Anonymous]

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.

[Anonymous]

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

[Anonymous]

i completely empathize with OP. many moments where i'm just like with my resources, I could bounce around europe and live a nice life rather than here...

but it'd be a selfish move re my parents and kids, it'd probably be less fun than i think being away from friends/family, and my wife wouldn't want to.

[Anonymous]

Anonymous wrote:i completely empathize with OP. many moments where i'm just like with my resources, I could bounce around europe and live a nice life rather than here...

but it'd be a selfish move re my parents and kids, it'd probably be less fun than i think being away from friends/family, and my wife wouldn't want to.

+1. While the thought of being wherever doing whatever sounds like fun, I wouldn't know what to do! I once did a solo trip (friend dropped out last minute). It was only 2 days but it was not exactly enjoyable wit no one to share your experience with. As I get older, I'm not that into travel anyways (I'm the kind of guy who'd walk on my treadmill vs. walking outside). So.. USA for me!

[Anonymous]

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.

[Anonymous]

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

Because most of them have never lived abroad. Most of them don't know that the QoL can be better in these countries. Most of them have been fed the narrative that the US is the best country and best place to live in the world. Why would they think of leaving what they consider the best?

I’ve lived abroad for years in multiple countries. I returned. QoL is higher here even with the crazy gun nuts and I have very deep family and friend ties here.

Expat communities are just super superficial and fake. Relationships are transitory and shallow. While I did make community ties, most countries are not nearly as welcoming to immigrants as the US is, and while they are welcoming and polite, you never really fit in.

What makes you think that Americans are so welcoming to foreigners? I haven’t really seen this and research doesn’t support your notion of how welcoming everyone is here. Research shows significantly elevated rates of loneliness in immigrants, the reason being that they aren’t well anchored in the community. Relationships of immigrants are shallower than in their country of origin. There’s plenty of research, if you’re curious about how connected immigrants feel.

[Anonymous]

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.

[Anonymous]

Your anecdote is not data.

[Anonymous]

Anonymous wrote:Your anecdote is not data.

And the original question was "why do you stay here" not why do people on average stay here?

[Anonymous]

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

Because most of them have never lived abroad. Most of them don't know that the QoL can be better in these countries. Most of them have been fed the narrative that the US is the best country and best place to live in the world. Why would they think of leaving what they consider the best?

I’ve lived abroad for years in multiple countries. I returned. QoL is higher here even with the crazy gun nuts and I have very deep family and friend ties here.

Expat communities are just super superficial and fake. Relationships are transitory and shallow. While I did make community ties, most countries are not nearly as welcoming to immigrants as the US is, and while they are welcoming and polite, you never really fit in.

What makes you think that Americans are so welcoming to foreigners? I haven’t really seen this and research doesn’t support your notion of how welcoming everyone is here. Research shows significantly elevated rates of loneliness in immigrants, the reason being that they aren’t well anchored in the community. Relationships of immigrants are shallower than in their country of origin. There’s plenty of research, if you’re curious about how connected immigrants feel.

Iin the US there is a concept of immigrant communities that is not at all the same as Americans living abroad.

I’ve lived outside of the US for years. The American expat community is nothing like the immigrant communities here in the US. Frankly the American expat communities I encountered were at best shallow. At worst, they are filled with creepy American men who move abroad to get predatory access to vulnerable and desperate women and girls.

And the US has a lot of problems with immigration and it isn’t this idealized place but at least immigrants have a path to citizenship here and the ability to gain the right to vote eventually. In most of the places where I lived, there simply wasn’t a concept of living there and after years, becoming a citizen. The US and Canada are unique in that regard.

I feel like OP really hasn’t spent any real time living abroad or maybe doesn’t have very deep ties herself. But living abroad isn’t this happy perfect life.

[Anonymous]

Anonymous wrote:

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.

Not the PP but I lived for several years in Western Europe in multiple different countries and I returned to the US.

[Anonymous]

Anonymous wrote:

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.

[Anonymous]

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 😀😀😀

[Anonymous]

Anonymous wrote:

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.

She did spend two years in Western Europe. Would be interesting to know where. As a German, I can tell you that many places in Germany are very diverse, open to new cultures, etc. Many are closed off small towns--the equivalent of what DCUMers derisively refer to as "flyover" country. I'm sure the same is true of many other Western European countries. Definitely the UK, as my Brit friends are quick to point out. So one's experience will color the view. If you spend two years living in Smalcraptown, Western Europeand then move to DC, that's going to color your opinion. (not saying that was the case here, just in general)