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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]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 [/quote]

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

[/quote]many are headed to Medellín [/quote]

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  :lol:

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.  [/quote]

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

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. [/quote]

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[/quote]

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