Anonymous
Post 02/19/2023 12:03     Subject: Re:If you have 5-10 million net worth, why do you stay here?
This seems so strange to me. We're not at that level of wealth yet, but probably will be in 5 years. But I have elderly parents here. My kid is here. I sometimes know people who make aliyah and move to Israel, and, frankly, I think they're nuts.
Anonymous
Post 02/19/2023 08:25     Subject: If you have 5-10 million net worth, why do you stay here?
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?


_+1. Sad to say, but this is true. IMHO, many white Americans who've been in this country for generations think that the USA is the best country in the world. But they have not done much international travel at all. Sure, in the 20th Century, America was pretty great. But we have so much crime now and so many shootings. Sure, it's a great country in which to live if you're UMC or higher. But for people who are MC or below, I think that Europe provides a more dignified existence.
Anonymous
Post 02/19/2023 08:17     Subject: Re:If you have 5-10 million net worth, why do you stay here?
Anonymous wrote:
Anonymous wrote:Because we are thinking about long term generational wealth and stability for kids and grandkids. Not just peacing out and living in a vacation destination for the rest of our lives. That’s what travel and trips are for.


Long term generational wealth? Nauseating. Your job as a parent is to give the kids a good upbringing, pay for college, steer them in a debt free right direction and that’s it. It’s not to endow them financially for the rest of their lives.


Respectfully, you may want to reconsider. My parents provided a down payment for a house (along with all the things above), and that was a huge game changer for us. We are not slackers at all and still have to work, and we both have full-time jobs. We hope to pass that along to our kids (the down payment and ideally more), and so on.

If many other families view this as desirable, your kids will be competing with those you have this leg up.
Anonymous
Post 02/18/2023 20:02     Subject: Re:If you have 5-10 million net worth, why do you stay here?
If I had 5-10 M I’d love back to my hometown and live like absolute royalty (would be fully retired).
Anonymous
Post 02/18/2023 19:55     Subject: If you have 5-10 million net worth, why do you stay here?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Being an expat is hard and lonely.


Op here

I have been an expat

It’s not that hard and imo since it’s easier to afford areas with less dysfunction and a more “socially attuned” built-environment (public third spaces, public transport, Walkability) abroad than similarly in the us, I’d argue the us is more lonely (which data seems to back up)

And with the economic resource parameter I mentioned above, it would be even easier as I was an expat with less resources so I couldn’t trade money for time to socialize as easily as I could with more money


Expat is just White people term for immigrant. The vast majority of immigrants in the US were Expats first and they all adapted and thrived. Along the way, most chose to become immigrants and settled here. The common trait among all successful Expats is youth. Kinda hard to find someone in their 70s who'd thrive in a new environment especially if they don't know the language.

I do agree with OP on this.. If you are in your 30s/early 40s, already made some money but not all (say $2-5 mil), have a business that runs on its own, there's absolutely no reason to migrate to other parts of the world. Your kids will be young enough to adapt and will be enriched in the process and you will enjoy a lifestyle that is several times better than your current one in the US.


Expats are not immigrants; the former live internationally only temporarily you dimwit.


If you'd read even the next sentence, you'll know that I know this already you dumbf*ck!

Anonymous
Post 02/18/2023 19:01     Subject: If you have 5-10 million net worth, why do you stay here?
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.
Anonymous
Post 02/18/2023 18:20     Subject: If you have 5-10 million net worth, why do you stay here?
Anonymous wrote:I’m retired early due to generational wealth. I stay based in DC because the health insurance via Obamacare is actually really good here and in MoCo and in most of the country it is not nearly as good or is awful.


Really? How do you qualify?
Anonymous
Post 02/18/2023 18:13     Subject: If you have 5-10 million net worth, why do you stay here?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Being an expat is hard and lonely.


Op here

I have been an expat

It’s not that hard and imo since it’s easier to afford areas with less dysfunction and a more “socially attuned” built-environment (public third spaces, public transport, Walkability) abroad than similarly in the us, I’d argue the us is more lonely (which data seems to back up)

And with the economic resource parameter I mentioned above, it would be even easier as I was an expat with less resources so I couldn’t trade money for time to socialize as easily as I could with more money


Expat is just White people term for immigrant. The vast majority of immigrants in the US were Expats first and they all adapted and thrived. Along the way, most chose to become immigrants and settled here. The common trait among all successful Expats is youth. Kinda hard to find someone in their 70s who'd thrive in a new environment especially if they don't know the language.

I do agree with OP on this.. If you are in your 30s/early 40s, already made some money but not all (say $2-5 mil), have a business that runs on its own, there's absolutely no reason to migrate to other parts of the world. Your kids will be young enough to adapt and will be enriched in the process and you will enjoy a lifestyle that is several times better than your current one in the US.


Expats are not immigrants; the former live internationally only temporarily you dimwit.
Anonymous
Post 02/18/2023 18:08     Subject: If you have 5-10 million net worth, why do you stay here?
Anonymous wrote:I’m retired early due to generational wealth. I stay based in DC because the health insurance via Obamacare is actually really good here and in MoCo and in most of the country it is not nearly as good or is awful.


Really? I’ve only done DC and MD so it’s good to have in my head that it’s an issue. We’re self employed so have exchange plans.
Anonymous
Post 02/18/2023 18:05     Subject: If you have 5-10 million net worth, why do you stay here?
Anonymous wrote:Gearing up to leave precisely in order to create generational wealth for the kids- I want to live somewhere that I will be happy spending just 1% of our portfolio, and that isn’t here


Honestly, I’m sure your kids and grandkids would rather see you more than inherit more money.
Anonymous
Post 02/18/2023 18:04     Subject: Re:If you have 5-10 million net worth, why do you stay here?
Our nw is not 5-10mil, but we do decently and both work remotely. The answer is that our families and friends are local. And where we live is home.
Anonymous
Post 02/18/2023 16:56     Subject: Re:If you have 5-10 million net worth, why do you stay here?
I stay here because it's very difficult to integrate into a foreign country, English-speaking or otherwise. The quality of life in many foreign countries is very much below what is possible here for the wealth level being posited - the environment doesn't become nicer or more appealing because you are wealthy relative to most of the locals. In some countries, like Switzerland, you'd not be among the wealthiest people, either, and the cost of living is extremely high. Many other countries are relatively unstable or unsafe; wealth you hold there may at some point be expropriated in some manner.

Having lived abroad, I'll continue to stay here and to travel overseas for holidays when the urge strikes.
Anonymous
Post 02/18/2023 08:37     Subject: If you have 5-10 million net worth, why do you stay here?
I’m retired early due to generational wealth. I stay based in DC because the health insurance via Obamacare is actually really good here and in MoCo and in most of the country it is not nearly as good or is awful.
Anonymous
Post 02/18/2023 08:16     Subject: If you have 5-10 million net worth, why do you stay here?
Gearing up to leave precisely in order to create generational wealth for the kids- I want to live somewhere that I will be happy spending just 1% of our portfolio, and that isn’t here
Anonymous
Post 02/17/2023 19:37     Subject: If you have 5-10 million net worth, why do you stay here?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Being an expat is hard and lonely.


Op here

I have been an expat

It’s not that hard and imo since it’s easier to afford areas with less dysfunction and a more “socially attuned” built-environment (public third spaces, public transport, Walkability) abroad than similarly in the us, I’d argue the us is more lonely (which data seems to back up)

And with the economic resource parameter I mentioned above, it would be even easier as I was an expat with less resources so I couldn’t trade money for time to socialize as easily as I could with more money


Expat is just White people term for immigrant. The vast majority of immigrants in the US were Expats first and they all adapted and thrived. Along the way, most chose to become immigrants and settled here. The common trait among all successful Expats is youth. Kinda hard to find someone in their 70s who'd thrive in a new environment especially if they don't know the language.

I do agree with OP on this.. If you are in your 30s/early 40s, already made some money but not all (say $2-5 mil), have a business that runs on its own, there's absolutely no reason to migrate to other parts of the world. Your kids will be young enough to adapt and will be enriched in the process and you will enjoy a lifestyle that is several times better than your current one in the US.


Op here - I’m not white nor white passing.

The difference between expat and immigrant isn’t race but time horizon intention

My parents were immigrants to the us as their intention from day 1 was permanence to move (if allowed)

I have been an expat before because I lived abroad without the open ended intention to stay in the countries I was in — but now I am seriously considering becoming an immigrant abroad.



OP, it doesn't sound like you have children. Is that the case? Kids are a big piece of the puzzle.

Like you, I have lived abroad for short periods - 12 months here and there - and returned to the US. I loved it. However, I was in my 20s with all the time in the world and lots of energy to invest in meeting new people. I'm 43 now and can barely foster any new relationship here. It's just harder when you're older. I'm glad that I did it in my 20s, as I have no interest in moving now. Plus, my DH immigrated to US in his 20s. He has stated many times that he cannot adapt to a new country again. Once was enough.