Is $2 Million Usd Enough To Retire With In Argentina?

[Musicman]

I have some savings set by and now that I just reached 50 I was thinking about retiring soon and wanted to get some expat feedback on how much money one would need to live a comfortable retirement in Buenos Aires ?

Would my couple of million bucks be enough for myself and my wife? How are the other expat retirees experience with managing finances in retirement? How much is needed each month to live going out a weekends for a decent meal in average restaurant?

 

[Davidglen77]

This can't be for real, can it?

 

[nkotb]

Depends how much your investments are yielding. I hear Boden bonds are pretty hot right now.

 

[steveinbsas]

I have some savings set by and now that I just reached 50 I was thinking about retiring soon and wanted to get some expat feedback on how much money one would need to live a comfortable retirement in Buenos Aires ?

Would my couple of million bucks be enough for myself and my wife? How are the other expat retirees experience with managing finances in retirement? How much is needed each month to live going out a weekends for a decent meal in average restaurant?

Yeah, it should be plenty. You may actually be able to buy a couple restaurants...in addition to a nice place to live.

The next question is one that you need to answer: If you really have two million bucks and can't "hide" it from AFIP, how will you feel about forking over $30,000 to $35,000 USD per year to pay the bienes personales tax in addition to any taxes on your worldwide passive income that will be levied in Argentina and possibly in your home country as well (if you really retire in Argentina and live here more than six months per year)?

 

[Rich One]

Is this related to the Ferrari import case... ? In Short , you need US $4000 per month more or less...!! So you need to invest the $2 MM in something that yields 5 % per month net .....Easy

 

[camberiu]

If you can earn a modest 5% on your two millions, that is US$100K year. You can rent a good 2 bedroom apartment in Puerto Madero (as a local resident) and live extremely well. If you opt not to have a car (which is quite viable), you will not know what to do with with the left over money every month.

 

[Musicman]

mmmm....I wasn't thinking about paying taxes on my savings in Argentina - do expat retirees pay that?

probably need a small car but nothing flashy like the Ferrari

 

[steveinbsas]

Anyone who has two million dollars and likes living in Argentina would be wise (tax wise) to not live here more than six months of the year. Half a million buys a very nice home in Punta Del Este (and there are other nice places in Uruguay where an equal house would cost much less.) Besides, knowing you are going to leave Argentina every six months might make staying here for six months at a time much more bearable.

PS: Homes in Punta Del Este have doubled in price in the past six years or so, based on what I've observed on this website: http://www.apuntavam...casas/en-venta/

 

[Ceviche]

As per my calculations, the best way to go would be to invest 2mn usd as follows :-

aa) buy a apartment in your home country or some place you like preferably out of south america and in northern hemisphere to take advantage of reversal of climate.

--cost 300K

bb) Buy a apartment in a sexy high security building in sexy barrio such as palermo chico..in bA, preferably 100 m2. - with 2 bedrooms and 2 bathrooms ( one for you and one for yr gf/bf/visiting family). with a storage space and parking space.. cost 400K

cc) sexy car ( audi or bmw) + sexy furniture...100K

dd) Invest 1.2 million usd in solid gold, silver, stocks, fixed deposits, bonds, different currencies ( RMB + HKD apart from USD) in different countries worldwide..maybe 5-6 countries ( hong kong, singapore, swiss, australia, uruguay etc) ... 7-8 banks ( check their sheets...how much do they loan out) . some of your investments should give you eventually 5000 usd in cash a month to spend in bA..which is like 70000 pesos a month or 2500 pesos a day...sky is the limit with such spending money.

6. set up companies to run some of your accounts.. set up a cook island trust to run those companies and give the power of trust to some trusted family member but be the overall power holder.

With 5000 usd spending money

1) Invest in OSDE 550 plan...
2) Invest in a maid to come and clean/cook/stock yr fridge every 2nd day...pay her taxes...so that everyone hapy
3) set up a monoburito account with afip..and give a high category tax. feel free to disclose which account you want to.
4) get a good wing man to hit the night BA spots and meet people// or if you are a family man...get yr kids to the best school etc

===

Last but not the least..in your free time as you enjoy this life..write a best-seller book.."how to make 2 million usd and live like a king in BA" and earn additional passive income for rest of your life.

This should be yr master plan.

tweak to for your personal adjustments

 

[steveinbsas]

mmmm....I wasn't thinking about paying taxes on my savings in Argentina - do expat retirees pay that?

It depends on where they keep them and how they access them while in Argentina (if they live here more than 180 days per year).