question about money and Argentine peso.

[whammy]

Anyone who can make that kind of dough shouldn't have to join the Army to learn IT. Doesn't the Army pay about $22,000 USD per year? The OP would have to save 90% of it for six years to have $120K. If he has some savings now he could get the IT education at a vocational college without joining the Army, but chances of finding an IT job in Argentina will be less than 10%.

I can, however, imagine that the Army might look like a good alternative to a 25-26 year old male who is about to be kicked out of his parents basement and be taken off their health insurance policy. I also wonder if the Army accepts recruits with "full sleeve" tattoos. Even if they do, I hope they have some psychological tests to weed out those who are a more than just a bit out of touch with reality (speaking generally, of course).

- I am enlisting in the army because they will pay $65000 of my $80000 in student loans from earning a bachelors and masters (which apparently I earned while living in my mother's basement) if I enlist in a critical MOS and IT (25b) is a critical MOS.

 

[whammy]

Anyone who can make that kind of dough shouldn't have to join the Army to learn IT. Doesn't the Army pay about $22,000 USD per year? The OP would have to save 90% of it for six years to have $120K. If he has some savings now he could get the IT education at a vocational college without joining the Army, but chances of finding an IT job in Argentina will be less than 10%.

I can, however, imagine that the Army might look like a good alternative to a 25-26 year old male who is about to be kicked out of his parents basement and be taken off their health insurance policy. I also wonder if the Army accepts recruits with "full sleeve" tattoos. Even if they do, I hope they have some psychological tests to weed out those who are a more than just a bit out of touch with reality (speaking generally, of course).

- Since I am a college grad, I will go in starting as an E-4 and my pre-tax pay over 6 years will be almost exactly $150,000. And that is not counting any promotions or BAH. And BAH is very generous...i know many soldiers that get over $1000 a month while only using a third of it for rent. And you can add $323 a month for grocery allowance. And this is all if I dont pursue OCS after the first 3 years to become an officer...then my pay (and my BAH) would almost double over the last 3 years. And I havent mentioned any signing bonuses or any of the many types of incentive pay. Plus all the awesome investment opportunities through USAA that are only available to military. and i guess i should mention that each year the scale gets raised a couple percent. For instance, 2010 had a 3.4% pay increase over 2009...which had a 3.9% pay increase over 2008

and i plan on saving EVERY cent...pretty much the whole reason Im joining army is to save a ton of money and then leave the country. Truck is paid off, no credit cards. I will literally have nothing to pay for while in the army...only time i plan on spending any significant amount of money would be visiting friends on while on leave once or twice a year.

 

[whammy]

Anyone who can make that kind of dough shouldn't have to join the Army to learn IT. Doesn't the Army pay about $22,000 USD per year? The OP would have to save 90% of it for six years to have $120K. If he has some savings now he could get the IT education at a vocational college without joining the Army, but chances of finding an IT job in Argentina will be less than 10%.

I can, however, imagine that the Army might look like a good alternative to a 25-26 year old male who is about to be kicked out of his parents basement and be taken off their health insurance policy. I also wonder if the Army accepts recruits with "full sleeve" tattoos. Even if they do, I hope they have some psychological tests to weed out those who are a more than just a bit out of touch with reality (speaking generally, of course).

And yes. Literally, Your whole body can be tattooed except for above the collar and below the wrist, and most soldiers get waivers for that as I have seen dozens and dozens of neck and wrist tattoos on soldiers. My tattoos ( i cant believe I actually have to defend that fact that I have tattoos on the internet or why someone would care if I do or not) are, actually, what is keeping me from being able to join the navy so I am choosing army...also beside the point of the thread

 

[whammy]

If you are sincere about volunteering at orphanages you might consider living "outside the box" (of Palermo or even BA).

Cordoba is a good place for this type of service:

http://www.projects-abroad.org/projects/care/argentina/?content=special-needs/


So is San Nicolas:

http://www.sunriseofargentina.org/_/About_The_Home.html

As is Mendoza (but this site is aimed at folks from the UK):

http://changingworlds.co.uk/default.aspx?cid=1891

You might also reconsider joining the army to get "paid training" in IT (as well as killing people) and join the Peace Corps instead.

Does anyone else find "whammy" uncannily similar to cabj, blahblah, futbol junkie, and granadaiscool?

and thank you for actually giving me a part of a real answer, I will check those out. And I am just like cabj, blahblah, futbol junkie, and granadaiscool if they are just regular guys trying to inform themselves without realizing they would be dealing with the type of responses I have been getting.

 

[whammy]

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?

I have already provided "extremely useful" information on that subject in this forum and I suggest you find it. I try to keep as up to date as possible by following several websites and forums that deal with the subject.

Here's the most important point: Six months ago the monthly foreign income requirement for the visa rentista was about $750 US per month. Now it's $2000. Dividend income will be accepted if you can demonstrate that it will continue without interruption for two years, but profits derived from your active trading will not. And it would all be taxable in Argentina.

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.

Once again, I appreciate a "real" answer, i still have hope in you yet! How will the fact that I will be making my money in the US and still paying taxes in US (I trade on a US online broker site) even when I am in BA effect all this. Because, unless I have a job in BA, I actually wont be earning a cent from, or in, Argentina. Also, I plan on having a student visa, does this all apply still?

 

[Celia]

Right now you can live modestly well on 30,000 USD a year, but not a luxurious lifestyle. Half of that money will go on rent if you plan to have a decent sized place in Palermo or Retiro. Things have changed here and prices are more in line with Europe and US now. In 5 years time, 30,000 may not be enough to live comfortably. I wouldn't invest all my money in buying a property here, too risky. What if they change the laws so foreigners can't get it out again??

 

[whammy]

Right now you can live modestly well on 30,000 USD a year, but not a luxurious lifestyle. Half of that money will go on rent if you plan to have a decent sized place in Palermo or Retiro. Things have changed here and prices are more in line with Europe and US now. In 5 years time, 30,000 may not be enough to live comfortably. I wouldn't invest all my money in buying a property here, too risky. What if they change the laws so foreigners can't get it out again??

thank you. yeh, I dont think I will be buying anything in Argentina, except maybe a cheap motorcycle. And even that I heard is a pain is the A**...so i might just avoid that too. I dont even plan on putting money in banks in Argentina unless i have a job while in BA.

Although I might invest in some Argentine companies that trade through the NYSE. there are a couple that are growing steadily back to where they were before they crashed a couple years ago and pay awesome dividends.

 

[steveinbsas]

And I am just like cabj, blahblah, futbol junkie, and granadaiscool if they are just regular guys trying to inform themselves without realizing they would be dealing with the type of responses I have been getting.

They are all the same (one) person.

You can add "qwerty" to the list, too.

 

[syngirl]

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).

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

Ah to be 25 / 26... you get both the balls and the naivete to make sweeping conclusions about a country you haven't visited yet!

Whammy -- best advice, just go your path, save your money, work hard for the next 5/6 years and THEN about 6-8 months ahead of your planned move to Argentina start asking the questions about the economy.

In 5/6 years the world may have changed a lot. Your dollar may be worth nothing, it may be worth a lot. Argentina may be expensive, it may have gone to hell. 5/6 years ago (when I arrived) it was a relative bargain. Nowadays, not so much. 5/6 years BEFORE that (ie 1999/2000) Argentine's were living it up on 1:1 and travelling the world. It's very difficult to see where we'll be.

So just go ahead with your plan, and then see what's what when you're done -- by the time you're ready to move there will be yet another hot expat destination on the rise (remember the days when everyone wanted to move to Prague?)...

 

[mini]

- I am enlisting in the army because they will pay $65000 of my $80000 in student loans from earning a bachelors and masters (which apparently I earned while living in my mother's basement) if I enlist in a critical MOS and IT (25b) is a critical MOS.

You don't remember earning your degrees?

Anyway, if you are making all that money day trading, why don't you just defer your loans and pay them off with your earnings from day trading?