NexusFi: Find Your Edge


Home Menu

 





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


Discussion in Off-Topic

Updated
      Top Posters
    1. looks_one Big Mike with 64 posts (43 thanks)
    2. looks_two syxforex with 19 posts (4 thanks)
    3. looks_3 ThatManFromTexas with 16 posts (21 thanks)
    4. looks_4 xelaar with 13 posts (6 thanks)
      Best Posters
    1. looks_one tDave with 6.5 thanks per post
    2. looks_two jeeprack with 5.3 thanks per post
    3. looks_3 ThatManFromTexas with 1.3 thanks per post
    4. looks_4 Big Mike with 0.7 thanks per post
    1. trending_up 76,901 views
    2. thumb_up 227 thanks given
    3. group 74 followers
    1. forum 338 posts
    2. attach_file 14 attachments




 
Search this Thread

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

  #71 (permalink)
 
kronie's Avatar
 kronie 
NYC + NY / USA
 
Experience: Advanced
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Trading: EMD, 6J, ZB
Posts: 796 since Oct 2009


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!

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Are there any eval firms that allow you to sink to your …
Traders Hideout
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
Futures True Range Report
The Elite Circle
Exit Strategy
NinjaTrader
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
59 thanks
Funded Trader platforms
37 thanks
NexusFi site changelog and issues/problem reporting
23 thanks
GFIs1 1 DAX trade per day journal
22 thanks
The Program
19 thanks
  #72 (permalink)
 cw30000 
new york
 
Experience: Beginner
Platform: SC, NT
Trading: CL, GC
Posts: 206 since Sep 2009
Thanks Given: 99
Thanks Received: 113


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.

Visit my NexusFi Trade Journal Reply With Quote
  #73 (permalink)
327trader
athens,greece
 
Posts: 55 since Sep 2011
Thanks Given: 5
Thanks Received: 23


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.

Reply With Quote
  #74 (permalink)
 
bluemele's Avatar
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
Posts: 2,543 since Jun 2010
Thanks Given: 3,803
Thanks Received: 2,842


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..)

Visit my NexusFi Trade Journal Reply With Quote
  #75 (permalink)
327trader
athens,greece
 
Posts: 55 since Sep 2011
Thanks Given: 5
Thanks Received: 23


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.

Reply With Quote
Thanked by:
  #76 (permalink)
 
gerardsamara's Avatar
 gerardsamara 
22 - France
 
Experience: Advanced
Platform: ninjatrader + Kraken
Broker: kraken.com
Trading: Bitcoin
Posts: 44 since Oct 2011
Thanks Given: 15
Thanks Received: 18

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.

Reply With Quote
  #77 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,399 since Jun 2009
Thanks Given: 33,174
Thanks Received: 101,539


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

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #78 (permalink)
 
gerardsamara's Avatar
 gerardsamara 
22 - France
 
Experience: Advanced
Platform: ninjatrader + Kraken
Broker: kraken.com
Trading: Bitcoin
Posts: 44 since Oct 2011
Thanks Given: 15
Thanks Received: 18

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)

Reply With Quote
Thanked by:
  #79 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,399 since Jun 2009
Thanks Given: 33,174
Thanks Received: 101,539

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

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #80 (permalink)
 
randyjb's Avatar
 randyjb 
Southern California
 
Experience: Intermediate
Platform: NinjaTrader
Trading: TF
Posts: 71 since Jun 2009
Thanks Given: 497
Thanks Received: 34


@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
Reply With Quote
Thanked by:




Last Updated on August 20, 2017


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts