Would you move a family to Argentina...?

[DavieW]

Always have Plan B.

Have 2nd citizenship/passport , 2nd/3rd residencies ready! Jump in the plane asap if required

Have a apartment in another country ready to move to

Have money in banks outside your home country. Have foreign credit cards ready.

Have some gold stored somewhere outside our country and some with you.

Ensure your internet activity/privacy is secure.

If you could own a peace of land where you could grow your own crops and raise cattle, that would be great too. Self sustainability!

Micro-planning at your own level as they call it!

Hope this helps.

Yeah, that really helps Ceviche....now, can you lend me the USD500,000 I'll need to buy all these properties and gold?

;-)

 

[Ceviche]

Yeah, that really helps Ceviche....now, can you lend me the USD500,000 I'll need to buy all these properties and gold?

;-)

Yes, you are right in your own perspective.

But the wise will understand what i am talking about!

You don't do such things overnight!

Such things are planned over years!

Once bitten , twice shy....as the wise say!

The wise of Argentina who suffered in 2002, should have made some wise moves over last 10 years.

And you DavieW, should start planning your wise moves in years to come. It may or may not come useful. You may/may not ever need it.

But its always useful to have the "microplan" ready.

First step you could make is apply for 2nd citizenship. And now that you live in Argentina for some time, if I was in your place I would apply for Argentine Citizenship via Mr Bajo Cero, the lawyer.

Now, you can continue rolling on the floor laughing at my points. One day your government would be laughing at you.

 

[sleslie23]

Touché Ceviche, touché.

 

[demokritos]

Let's hope for the best and try and concentrate on the positive, but just in case I just ordered 10 gallons of water and some other non-perishables

Don't most apartments here have their own water tanks? Or is that only houses and PHs?

 

[DavieW]

....if I was in your place I would apply for Argentine Citizenship

Yup, I'll be doing that as soon as Argentina has zero inflation and a non-corrupt government.....or when hell freezes over - whichever comes first!

;-)

 

[earlyretirement]

Sorry, this is really depressing. I will not post any further on the subject. My apologies.

All those past things and current events forced me to suggest the money is not worth it. This could ruin the OPs life or marriage, you can get scarred for life.
The time with the family is priceless and the early years make the kids.

I will STFU now.

Iznogud - I also appreciate your comments and I think they are very helpful and constructive. I've found that most times people want to take the best case scenarios when they plan big moves or major life events but they seldom think about the worst case scenarios. You have to think of both.

It's not true however, that no one knew the crash was coming back in 2001. Many people were "in the know" before the crash and I personally know quite a few locals that knew something like that was coming.

But I agree with you that many were in denial and buried their heads in the sand like an ostrich and wanted to think of rosy best case scenarios. Quite honesty I see the same thing going on right now. The people aren't in denial are preparing for another pending crises and more prepared for it and there are those still in denial thinking things will turn the corner even while all the moves by the government, restrictions and controls show quite the contrary.

 

[Ceviche]

Yup, I'll be doing that as soon as Argentina has zero inflation and a non-corrupt government.....or when hell freezes over - whichever comes first!

;-)

That all you could say, could you?

Enjoy your present day till you possibly can, as obviously you don't have a plan for the future.

 

[DavieW]

Enjoy your present day till you possibly can, as obviously you don't have a plan for the future.

No. I do have a sense of humour though, which clearly puts me one up on you!

 

[earlyretirement]

Always have Plan B.

Have 2nd citizenship/passport , 2nd/3rd residencies ready! Jump in the plane asap if required

Have a apartment in another country ready to move to

Have money in banks outside your home country. Have foreign credit cards ready.

Have some gold stored somewhere outside our country and some with you.

Ensure your internet activity/privacy is secure.

If you could own a peace of land where you could grow your own crops and raise cattle, that would be great too. Self sustainability!

Micro-planning at your own level as they call it!

Hope this helps.

I agree it's good to have a back up plan. Some of these things however are easier than others.

Absolutely I agree having 2 passports is ideal. Or at least permanent residency status in another country if things become unstable in your home country.

It's much easier for many residents in Buenos Aires because a HUGE percentage have ancestors from Europe (especially Spain and Italy) and both of those countries will grant passports with the proper due diligence and paperwork. Many of my friends there have passports from Spain and Italy.

It's not always easy to "have a 2nd apartment ready to move to". However, with the advent of things like www.airbnb.com and the like, it's very easy to rent an apartment long-term with no risk at all in almost any country in the world.

I do agree that's it's an excellent idea to keep bank accounts in other countries around the world. This isn't too difficult at all and can be accomplished with anyone that does some basic due diligence. It's wise to be mindful of mandatory reporting requirements. Obviously those in Argentina that have them outside, 99% of them don't declare them.

You can get debit cards with these banks so you can easily withdraw the funds and most will give you linked Mastercard or Visa cards so you can use them for purchases and draw on your savings. If you maintain a relationship long enough, they will also give you normal credit cards in these countries as well. That's always a good idea to have credit cards if possible in other countries.

Having physical gold stored outside of your home country isn't always easy and not going to be easy to arrange for the vast majority of people out there. But again, it's worth exploring. There are some banks, especially in the USA where you can have some minimum balance with them and they will give you a free safe deposit box. It doesn't take too many gold coins to have significant value.

I'm not one of those people that think you need to own land for self sustainability. I don't think that is too practical for the vast majority of the people out there. However, owning land in other countries isn't a bad idea and I've purchased in other countries before. You'd be surprised at how affordable some plots of land are. Especially in South America.

And taxes on this land are not expensive depending on where you buy and also you don't have the hassles of utility, water, gas, etc. on just raw land so there is no real maintenance issues or overhead. On some land I own I just have to pay someone to cut the weeds/grass on it every few months. Again, doesn't take much money to buy some land in countries surrounding Argentina (if you don't want to buy in Argentina).

I do agree you should plan this kind of stuff slowly over time. It's IMPOSSIBLE to do overnight but quite possible to plan ahead over many years. And these things above don't take being a millionaire or lots of money. Yes, it can be a pain to set up initially but really once it's set up it's on automatic and you don't even think about it.

 

[earlyretirement]

Edit: I forgot to add that it's NOT as easy for Americans as it used to be opening up bank accounts around the world. A few years ago it was MUCH easier. But now with everything going on with the IRS and reporting hassles for most banks, it's not too easy to open up bank accounts.

Still possible if you're declaring your assets and income each year and have excellent paperwork trail but not as simple as in the past.

Some banks in Asia won't trust Americans unless you have a very large net worth and long track record with their parent banks.