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Best Caribbean or Central America location to retire? (Now with South America!)
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Best Caribbean or Central America location to retire? (Now with South America!)

  #71 (permalink)
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bluemele View Post
Yah, but the easy way to get around this is to just be a shareholder of a private company that pays for everything for you. That is how they all do it. Since you own the shares and not the company then the company does not have to report to the IRS. If you have distributions, then it is a different story completely.

You just have to set a value on those shares etc.. This is all complicated tax stuff, but nothing a tax attorney can't fix.


no this is really interesting,

and you being from Hawaii,
probably see many, many beach bum millionaires that have done just that!

surfs up!

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  #72 (permalink)
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bluemele View Post
"Passive" is a tough word. As an old life coach of mine used to say, "The only passive income anyone will ever have is if you were born with a silver spoon and your trust has been set up for you to send you checks".

In my opinion, there is no safe haven.

Bonds, Treasuries, Dollars, Currencies, Derivatives of any kind, Insurance, etc.. They all go through their struggles.

Right now, I am buying up homes where I grew up (been doing it for 12 years) @ 15K - 20K per home and cashflow them like MAD. 30% IRR's, but it is management intensive.

In my opinion, TIC (Tenant-In-Common) real estate deals in a high demand area are some of the best deals for consistent income. Or a REIT that doesn't leverage etc.. Just my 10 cents, but I never dream of passive, just less active.

Blue is correct.

Passive income to me is rent income.

If you are good and able to build up a sizable account, for example, 100 millions, and no longer able to get a good return with it, then you have to convert your paper into hard asset. The best asset type is rental property. People always need a roof. And in the US, we have very favorable law for real estate. Bankers love to lend you money to buy home.

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  #73 (permalink)
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investing in real estate was one of the most secure investments.
now with the crisis spreading across europe it doesn;t seem like a good one.

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  #74 (permalink)
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327trader View Post
investing in real estate was one of the most secure investments.
now with the crisis spreading across europe it doesn;t seem like a good one.

I disagree, but so be it. Compare it to anything else and why do you say it isn't a good one?

If you look temporarily, than yes, you are right. Can you buy in and have an illiquid issue of value, that is why location and timing are everything. With other investments, mostly timing is everything!

If you buy in a location which people will always want to be like:

1. Good jobs

2. Good education

3. Decent weather

4. Low Crime

Etc...

I know, people will disagree on what metric is low/high, but pick a place like Santa Barbara, or most of the coast of California, Hawaii, parts or other areas that have high barriers to entry and you will find the values continue North. (Manhattan, Hong Kong, Tokyo, etc..)

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  #75 (permalink)
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bluemele View Post
I disagree, but so be it. Compare it to anything else and why do you say it isn't a good one?

If you look temporarily, than yes, you are right. Can you buy in and have an illiquid issue of value, that is why location and timing are everything. With other investments, mostly timing is everything!

If you buy in a location which people will always want to be like:

1. Good jobs

2. Good education

3. Decent weather

4. Low Crime

Etc...

I know, people will disagree on what metric is low/high, but pick a place like Santa Barbara, or most of the coast of California, Hawaii, parts or other areas that have high barriers to entry and you will find the values continue North. (Manhattan, Hong Kong, Tokyo, etc..)


my dear friend that's what i was saying.temporarily i don't think that investing in real estate is that good.
on the long run though, now is the time to buy properties and gain a substantial profit
when the market turns.

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  #76 (permalink)
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Currently planning to retire in Costa Rica ... Will visit this country in march 2012 for a couple of months first before to decide to move there.

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  #77 (permalink)
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ggeib750 View Post
Currently planning to retire in Costa Rica ... Will visit this country in march 2012 for a couple of months first before to decide to move there.

Let me know how it goes, I am very interested...

Mike

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  #78 (permalink)
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Sure Mike , I will give feedback when returning from Costa Rica ( resident visa , real estate , health program , cost of living , internet , taxes etc).
I am willing to visit mainly the pacific ocean side ( Nicoya Peninsula)

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  #79 (permalink)
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Question to you guys...

When I move out of the States, my mom has expressed interest in joining me and living near wherever I ultimately decide to reside.

However, she receives disability and social security right now from the US. I am just wondering, will she continue to receive these benefits outside of the US? Or do I need to add this to my monthly budget to cover the "lost" money for her.

I had wondered the same thing for me, if I would still collect SS retirement when I reside outside the US. I mean I paid into it, I assume I will still get to collect it, but who knows with the crazy rules. And of course who knows what it will actually look like by the time I retire, I have assumed it will be zero positive income for me but still wonder what you guys say.

Any experiences?

Mike

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  #80 (permalink)
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@BigMike...

Yes, you can continue to receive your Soc. Sec. payments to your new foreign domicile. My best friend is British and lived and worked in U.S. for many years. He had dual citizenship. When he left, he even renounced his U.S. citizenship but has still continued to collect his monthly Soc Sec. stipend every month. It took him a try or two to get it set up properly but he has collected it now for over 10 years from overseas.

Of course, as you alluded to earlier, there's simply no telling how long such schemes will continue in force given the dismal economic situation headed in our direction. I do however, think it would behoove you to make your move prior to January of 2013 as capital controls implemented through a sneaky addition to the new Hire Act and FACTA will come into play, making it ever harder for Americans to conduct financial transactions overseas due to onerous reporting and withholding situations being foisted upon foreign banks who cater to Americans.

I hope that information helps.

Randy
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