question about money and Argentine peso.

[whammy]

this might ramble on for a bit, but any input is helpful.

I plan on moving to BA in about 5-6 years and Ill be 32(ish). very soon, I will be embarking on a employment endeavor (that means joining the army haha) and I will be trained in IT type stuff. So I am not too worried about finding a job in BA because everyone needs IT...heck, even 7-11 needs an IT guy.
Anyway, Im not trying to be tacky, as most people consider it tacky to talk about personal finances. But, I will have about $120,000 usd saved up and will make around $30,000 usd a year off that money from dividends, short term trading, etc... I dont want to live like a king. but I plan on getting at least an "ok" furnished apt in palermo. I want to join a gym, take advantage of being able to play organized baseball and american football, probabaly buy about 6-10 nice pieces of clothing per month, and spent alot of time volunteering at orphanages and with street chidren, own a motorcycle...and maybe get a job if I can find one that works for me. I also plan on getting a "spanish for foreigners" certificate from one of the universities and maybe pursuing another masters degree after that. other then that I plan spending my days in as many social situations as possible.
So, is my vision of a future in BA a realistic one? will approx. $30,000 usd a year and a $120,000 usd head start make this possible?

also what is everyones opinion on the Argentine peso? Every online article I have read about the future of the Argentine peso is from 2005 or earlier. Right now 1 usd is 3.9720 Argentine pesos. Do you think this will go up or down or stay the same?
thanks

 

[French jurist]

Well, projecting yourself 5 to 6 years ahead here is "impossible mission".

In this thread, you'll meet two kinds of opinions :
- Argentina is now stable, and the life cost will remain the same (high) or will even increase
or
- Argentina is used to cyclic crisis, and within 5/6 years, there will be again a new period of economic downfall, peso devaluation, etc...

Sincerely, it's impossible to answer (it would be for most of other countries, but not for Argentina what makes it so "special").

Right now with 30.000 USD a year, 2.500 USD a month, you can live reasonably well although buying "6-10 pieces of clothing" every month is a funny requirement by the way : food, rent, energy bills, water, "expensas", ABL/local taxes, natural gas consumption can quickly eat your income before.

I guess you visited Argentina before, what attracts you here (if I may)?

 

[French jurist]

Furthermore for the parity USD/ARS 5 to 6 years ahead of time, let's wait to see if the crisis is really over.
If the crisis is W shaped then the dollar will strengthen first (deleveraging) then will ... sink to levels never anticipated before (depends on the Chinese mainly) with first a deflation (more jobs disappearing, industries closing) before having an hyperinflation smelling like the 1920/1930s Germany = going to buy bread with a wheelbarrow full of bills (Euro won't be any better though ). The nicest aspect (irony inside) is that this will wake up nationalisms of any kinds (extremism, populism, fascism in Europe and teapartiers in the US, and so on...).

In this case, you'll have many other things to worry about.

 

[nikad]

Your question is simply too hilarious! This is not Switzerland. If I was you I would start looking somewhere else, because in Argentina you do not know what will happen in 6 months. This is a friendly advice, I have lived here all my life and am married to an expat. The Us dollar has been strong at times, at other times has been weak, but right now with both the US and Europe in problems, it is even harder to guess
( not that guessing was easy at any time )

 

[steveinbsas]

this might ramble on for a bit, but any input is helpful.

I plan on moving to BA in about 5-6 years and Ill be 32(ish). very soon, I will be embarking on a employment endeavor (that means joining the army haha) and I will be trained in IT type stuff. So I am not too worried about finding a job in BA because everyone needs IT...heck, even 7-11 needs an IT guy.
Anyway, Im not trying to be tacky, as most people consider it tacky to talk about personal finances. But, I will have about $120,000 usd saved up and will make around $30,000 usd a year off that money from dividends, short term trading, etc... I dont want to live like a king. but I plan on getting at least an "ok" furnished apt in palermo. I want to join a gym, take advantage of being able to play organized baseball and american football, probabaly buy about 6-10 nice pieces of clothing per month, and spent alot of time volunteering at orphanages and with street chidren, own a motorcycle...and maybe get a job if I can find one that works for me. I also plan on getting a "spanish for foreigners" certificate from one of the universities and maybe pursuing another masters degree after that. other then that I plan spending my days in as many social situations as possible.
So, is my vision of a future in BA a realistic one? will approx. $30,000 usd a year and a $120,000 usd head start make this possible?

also what is everyones opinion on the Argentine peso? Every online article I have read about the future of the Argentine peso is from 2005 or earlier. Right now 1 usd is 3.9720 Argentine pesos. Do you think this will go up or down or stay the same?
thanks

I am going to answer your questions with three questions:

Aren't you the guy with the (extensive) tattoos that was planning to open an expat/sportsbar in BA?

You don't expect anyone to take your post seriously, do you?

Have you ever been to BA?

 

[whammy]

I am going to answer your questions with three questions:

Aren't you the guy with the (extensive) tattoos that was planning to open an expat/sportsbar in BA?

You don't expect anyone to take your post seriously, do you?

Have you ever been to BA?

yes, i expect my post to be taken seriously. why would I waste my time writing it if I didnt? and yes I am the guy with tats that asked about opening a bar in BA...and have since found out that it would be a bad idea to try. I am trying to get input and explore options by getting advice from people that are already in BA.
thanks for your extremely useful input...

 

[whammy]

Well, projecting yourself 5 to 6 years ahead here is "impossible mission".

In this thread, you'll meet two kinds of opinions :
- Argentina is now stable, and the life cost will remain the same (high) or will even increase
or
- Argentina is used to cyclic crisis, and within 5/6 years, there will be again a new period of economic downfall, peso devaluation, etc...

Sincerely, it's impossible to answer (it would be for most of other countries, but not for Argentina what makes it so "special").

Right now with 30.000 USD a year, 2.500 USD a month, you can live reasonably well although buying "6-10 pieces of clothing" every month is a funny requirement by the way : food, rent, energy bills, water, "expensas", ABL/local taxes, natural gas consumption can quickly eat your income before.

I guess you visited Argentina before, what attracts you here (if I may)?[/QUOT




buying 6-10 pieces of clothing a month is just a guess. I just plan doing a little shopping maybe once or twice a week. And I plan on going the furnished/serviced apartment route where are all utility bills, taxes, and fees are part of the rent price.

 

[Canick]

No one knows what will happen anywhere in 5-6 years. And in argentina that "unknown" factor is probably 10 fold most other places. My suggestion is to post this again in 5 years where you are ready to actually move.

oh and buy the clothes now, I can promise they will be cheaper than in 5 years. Although I can't guarantee they will still be in style.

 

[steveinbsas]

yes, i expect my post to be taken seriously. why would I waste my time writing it if I didnt? and yes I am the guy with tats that asked about opening a bar in BA...and have since found out that it would be a bad idea to try. I am trying to get input and explore options by getting advice from people that are already in BA.
thanks for your extremely useful input...

You didn't answer the question "Have you ever been to BA?"

If not, how can you already be planning to move here?

And are you aware of the final requirements and tax liabilities that living here as a temporary or permanent resident entails?

If you are going to be in the Army for the next six years you really are wasting your time to be asking these questions now. And even if all of the questions you can think of are sincerely answered in this thread you still won't have a plan. You will only have a fantasy.