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

[Samra2]

We are looking for investors / customers to our newest addition to the telo business; The Harem.

Ferrari guy is welcome to apply

 

[ajoknoblauch]

2m is a lot of money to many people. But if you have 2m, it's still not a big deal if you live in NY or California(with so much inflation. Pensador was saying 1m is not like it used to be 20 years ago). I prefer a stable monthly income of 6k, to 2m cash.Then you can retire at many places, including BsAs for a while.

There is no noteworthy inflation in NY or California. As a country, the US has virtually zero inflation.

 

[Pensador]

1% of the worlds population are millionaires. 99% (thats 6.9 Billion people) of people think $2m is a lot of money and for 80% of the worlds population who live on $10 a day, $2m is not a lot of money its an unimaginable amount of money. Get a grip on reality please.

Oh I am sorry! I forgot I am on the baexpat forums. I need to clarify that my reply was regarding the OPs original post which had to do with retirement. Retirement at age 50 no less, in which case 2M is not allot of money. Can it be done? I believe it is possible but you’re talking about potentially 40 years or even more of retirement which with current market trends and interest returns etc. You would be wise to plan on living under the 50K a year mark and practicing frugality. And I guarantee that in 15 years 50K is going to be peanuts. Hell it is almost peanuts now.

Of cource the OP could jet down to BA buy a Ferrari and party like its 1999 at the Harem with Dom Perignon. Let me see...

300K for the Ferrari
that leave 1.7M
$600 a night for the parties wel I am sure some of them would hit a $1000 easy.

Well that party would be over 1700 days a far cry from 40 years.

 

[steveinbsas]

I just discovered the link I provided to Musicman's posts doesn't work. Here are the ones I found most interesting. Many of them were thread starters.

To see all of Musicman's posts (latest post first) point your cursor over his username (when you are logged on). When the information box appears click on "find content."

Musicman on 02 July 2011 - 04:27 PM in Newcomers Forum (Cost Of Living In Ba?)

Hi, Finally I am thinking of moving back to BA from a 10 year hiatus working in the States. The big question I have after reading about inflation, etc is how much money will I need to live comfortably each month going out for a meal at the weekend, a few bottles of wine during the week, shopping, cinema, electric, etc + renting a nice 100 square metre modern apt in Palermo area. I am 50 years of age with my partner

Thanks in advance for comments


Musicman on 03 July 2011 - 07:35 AM in Newcomers Forum (Cost Of Living In Ba?)

Thanks to all......currently I am living and working in Houston Texas and indeed have a very good standard of living as a business executive but with the kids leaving home now my wife and I (argentine wife) are thinking about staying on the states or spending some of our retirement years in ba. What I like about ba is that it s go that big European city feel about it but at a much lower cost. Yes, I guess you could call me a spoiled expat but my retirement budget is not that high given that it has to last us both over many years. We are looking for a comfortable but not necessarily luxurious life with eating out from time to time and enjoying a decent bottle of wine now and then. I won't have the budget I had when I was working. Would it be beter to buy a property as we plan to stay there probably for around 10 years and was wondering whether I could get some business consulting work given my experience at a fairly high executive level and I also speak fluent Spanish


Posted by Musicman on 08 July 2012 - 08:26 PM in Newcomers Forum (Any Scots In Ba?)

Hi Guys - I will probably be in BA for a few years - planning to rent an apartment fairly central. How is the sociel life down there these days?


Posted by Musicman on 29 August 2013 - 07:00 PM in Newcomers Forum (Resident Visa)

Hi - I am UK citizen and would like to know how I can get a visa to live in BA permanently?

I did live there for 8 years until 2001 and had a DNI at the time but have now lost all that

Thanks for comments


Posted by Musicman on 29 August 2013 - 10:22 PM in Newcomers Forum (Resident Visa)

I left in 2001 and just didn't follow up - my DNI was via the company I worked for at the time but I have no idea what happened to it or whether I was entitled to residency or not - I lived there for around 7 years

Any suggestion for a good lawyer to help investigate?


Posted by Musicman on 12 November 2013 - 06:10 PM in Expat Life (Buying Property In Ba In Pesos With Usd)

Hello Folks - is anybody aware of a method where I as a foreigner with USD could buy property in BA in pesos and be able to exploit the blue and official rates so I could get a net discount on the property?

I heard some rumors this was possible


Posted by Musicman on 13 November 2013 - 07:00 PM in Expat Life (Property Investment)

Hi - I heard a possibility to get property at 40% discount in BA if buying with dollars thanks to peso spread - this together with recent drop in prices sounds like a great buying opportunity - BUT is it true?

Can the collective give me there feedback on this pls

Thanks,


Posted by Musicman on 24 November 2013 - 12:49 PM in Expat Life (Should I Bring My Ferrari With Me TO BA?)

Hi - just wondering whether this is a good idea or not - how are the streets in BA these days?

Are there many potholes? My car has a really low profile

Would I bring myself too much attention and perhaps risk my safety?

I really love my new car and would be lost without it - also are there any reliable dealers in town that offer a cost effective

Thanks in advance for any comments - realise this is quite a unique situation but hopefully somebody can help


Posted by Musicman on 24 November 2013 - 03:19 PM in Expat Life (Should I Bring My Ferrari With Me TO BA?)

Thanks for the comments - its been a while since I have been down there so was just wondering - the Ferrari is a key part of my life and I would be lost without it but I do realise there may be some safety risks but then again it would give me some social status which is good in Argentina for business - but the way how much money does one need to live on per month - I already own an apartment there so that not a cost for me

The Ferrari of course will be expensive but I am willing to pay for that as it has some obvious benefits

Am also interested in learning to play polo but haven't ridden for a long time - are lessons expensive?

Thanks again for all your comments and sharing your experience and suggestions -


Posted by Musicman on 24 November 2013 - 08:09 PM in Expat Life (Should I Bring My Ferrari With Me TO BA?)

Hello - Hey I really have a Ferrari and I would like to take it down to BA - I appreciate the feedback from everybody and the article on the potholes in the city - if there are too many potholes then U simply cannot drive it without risking damage - I usually like to drive pretty fast and don't have time to see all those potholes in the road -

In my future job as an agent for soccer players the status is very important - that's how it works in the world of soccer agents - I may have to sell it though but that will break my heart - somebody mentioned Puerto Madero so maybe I should look to find a penthouse in that area in order to keep that exclusive kind of image or would there be more prestige in Libertador? Does anybody know which apartment buildings in those areas come with helipads?


Posted by Musicman on 25 November 2013 - 07:28 AM in Expat Life (Should I Bring My Ferrari With Me TO BA?)

All - it is pretty standard for soccer agents to have a Ferrari type car and live in penthouse apartments - that's the nature and essential part of the game. Image counts big in this industry and the returns can be huge paying off a Ferrari easily in short period of time

I don't see it as such a big deal as you guys seem to think it is -


Posted by Musicman on 25 November 2013 - 10:23 AM in Expat Life (Should I Bring My Ferrari With Me TO BA?)

Hi - soccer is growing in the USA and will be huge - Europe is also a target market of mine

The luxury tax is a concern but there are ways and means around that with the right contacts

I am almost decided now to bring the Ferrari down and go for it even with the pot hole problems

Thanks for all your comments


Posted by Musicman on 25 November 2013 - 11:01 AM in Expat Life (Should I Bring My Ferrari With Me TO BA?)

The government will support new business creation in Argentina and my business will bring much needed USD into the country and create some employment - it really is a win win


Posted by Musicman on 03 February 2014 - 09:37 PM in Expat Life (Is Argentinas Economic Collapse Imminent?)

What are the Argy expats view on this? How long before the collapse or could Argentina somehow escape a meltdown and if so what could possibly save the country?

Will we see an expat exodus and what's likely to happen to real estate prices?


Posted by Musicman on 04 February 2014 - 11:05 PM in Expat Life (Is Argentinas Economic Collapse Imminent?)

I have to admire all you expats putting up with all that chaos and imminent economic meltdown - it takes a brave person to live in these type of circumstances risking ones savings and earnings. It's times like these that I really appreciate the stability in the USA.



Posted by Musicman on 05 February 2014 - 11:18 PM in Expat Life (Is Argentinas Economic Collapse Imminent?)

Hi there - I decided to keep the Ferrari here in Houston for time being and delayed my move - kind of glad I did that given the increasing turmoil down there and also the growing malaise in Brazil has shaken my appetite for business adventures in the southern cone at least in short term until we see how all this plays out - anyway things are pretty much booming up here in the states

Good luck to you all in crazy Argentina


Posted by Musicman on 07 February 2014 - 05:40 AM in Expat Life (Is Argentinas Economic Collapse Imminent?)

http://m.wikihow.com...onomic-Collapse

Here is a link on how to survive an economic collapse but I suspect Argentinians and expats could improve quite a bit on this -

I would say the main thing would be to make sure you have all your assets and savings outside of the country (for those that have that luxury) and any local assets be in tangible form - real estate , precious metals, etc

Then stock up in food and have back up power supply

Posted by Musicman on 06 March 2014 - 09:08 PM in Expat Life (Real Estate Timing - Arguments For Now Vs Later?)

It would really depend on what your investment objective is................if you are looking to buy and sell quickly and make a profit then now is not the right time. If you are looking to buy as an investment and rent out to get income then now is not a good time unless you get your rental contract in USD (I am lucky enough to have one of those) - either way you need to think long term about selling as getting a large amount of USD out of the country without paying a lot of commissions will be difficult

If you are looking long term and need somewhere to live and have USD then now is a good time to buy...............prices are still good relative to other major cities globally and in Latin America with a similar quality of life to what you can have in BA. If you are hoping for another 2002 type meltdown then I doubt that is going to happen this time



Posted by Musicman on 23 March 2014 - 08:50 PM in Expat Life (Starting A Restaurant Business In Buenos Aires)

Hi y'all - I have been kicking around the idea of setting up a Texas style restaurant in Buenos Aires - its been a dream of mine for some time and perhaps this is not the best time to start a business but hey I am in it for the long term and I have some buddies from Texas who are willing to invest and love it here in BA. With the growth of shale gas business we see a good opportunity right now to introduce some Texas culture to the locals and the expats

Where in BA do you think would be the best place to look for a location? Does anybody have experience with running a restaurant here? What are the pros and cons and how much % profit can you make at it - everybody eats out here just like back in Houston so the market is here

This would be a Texas style steakhouse but would also do crawfish, craft beers and have rock bands playing at the weekends - I envisage having an open terrace for live music and if it works out we would like to perhaps dream a little bit and look at the potential to expand to all the main cities in the country


Posted by Musicman on 03 November 2014 - 06:51 PM in Apartment Rentals and Roommates (Luxury 2 Br Apartment For Rent In Las Canitas)

I have a luxury unfurnished 2 br apt (both ensuite) with 95 m2 with parking and for long term rent in superb area close to restuarants, etc . The tower comes with health club, indoor swimming pool, sun roof, etc

Could possibly furnish for long term lease


Posted by Musicman on 01 December 2014 - 11:42 PM in Expat Life (Sophisticated & Cosmopolitan Buenis Aires)

A recent report suggested that Buenos Airea is one of the most sophisticated and cosmopolitan cities in the world offering world class culture, fashion, art, dining and one of the best standard of living / quality of life for expats globally. What do the expats here think about this? Is it true?


Posted by Musicman on 06 December, 08:53 PM in Expat Life (Is 2 Million Usd Enough To Retire With In Argentina?)

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?

 

[sleslie23]

Musicman = BAXpats' favorite troll

steveninbsas = BAXpats' official private investigator

 

[nkotb]

For those of us who don't have the time/inclination to read through all those posts, can someone summarize and provide a conclusion?

 

[Musicman]

Hi - thanks for the comments and suggestions but to be honest I just don't feel comfortable enough to retire on $2 million USD in BA - its just not enough. I will most probably work a bit longer to get to $4 million USD and also start a business to keep a regular income

The equestrian lifestyle can be a little expensive as I want to compete at a fairly high level although its much cheaper than USA

I still have the Ferrari and do plan to take it with me when I come down (I hope the potholes won't be an issue)

Rgds

 

[steveinbsas]

For those of us who don't have the time/inclination to read through all those posts, can someone summarize and provide a conclusion?

Sure, Any 50 year old man who already owns an apartment in Las Canitas and also has a Ferrari and two million dollars in the USA (as well as the ability to make two million more before retiring) may be wasting his time hoping to get good advice in an internet forum where it's too much trouble for some members to read more than a few lines at a time.

 

[garryl]

Hi - thanks for the comments and suggestions but to be honest I just don't feel comfortable enough to retire on $2 million USD in BA - its just not enough. I will most probably work a bit longer to get to $4 million USD and also start a business to keep a regular income

The equestrian lifestyle can be a little expensive as I want to compete at a fairly high level although its much cheaper than USA

I still have the Ferrari and do plan to take it with me when I come down (I hope the potholes won't be an issue)

Rgds

Sure, if you do come here with your 2m and Ferrari, I am willing to show you my favorite telos. That's a promise.

 

[Alicia karr]

@Garryl, you mean with his wife of course1--remember he's married!