Vince
Well-known member
Argentina is definitely LESS than the USA assuming you have a paid off place. I would have a hard time believing these amounts would be enough to comfortably retire however.
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Is the Expat party in Buenos Aires coming to an end?
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ultraviolet
Member
I just posted about this. Yep. Still much cheaper than the States. Compare major cities in the US and BA and other cities here are affordable compared to back home.
Sunny
Well-known member
How do they calculate that?
Vince
Well-known member
I think all of those things are totally subjective. Also, with inflation a buck isn't worth what it was used to so I doubt these are too accurate. But I see various things online and I usually shake my head. However, I read that many don't have anything besides social security. I'm not sure how they get by.
Still to be fair, prices have gone WAY up here in a short amount of time. I know prices probably will never go back to those levels. But I ordered a large pizza the other night and it was about $15 USD or 15,600 pesos. I'm sure I can get a pizza for the same price in the States at many places. Food prices have gone way up. I see many restaurants really dead now. Many probably will go bust this year.
This is the biggest issue that I find. When I was younger they said if you retired with $X it would be enough but inflation really changes that. The USD is worth less each year and that trend will most likely continue as the USA funds more wars it can't afford and printing money. It kind of reminds me of Argentina in many ways.
Starfish
Active member
I am wondering the same thing. Most of my friends in the US are woefully prepared. Just depending on Social Security. Fortunately several of them own properties that have appreciated in value. I think their retirement plan is to sell it and then move to somewhere cheaper in the US or some of them are now asking me about Argentina. Although I think if you own a place in Argentina and have that amount you should be fine if you aren't blowing tons of money. But it's easy to spend money here if you're dining out a lot.
Top Chef Fan
Member
Same as my friends. The ones that are very much struggling are those that are renting. Those people are going to be stuck moving in with their adult children.
Many others plan to sell their houses which have skyrocketed in value. These days houses have turned into piggy banks to sell at retirement and buy a more modest place to live. But all my friends no longer want the hassles and maintenance costs of a larger property and are more than ok to downsize.
To be fair the chart stated info was from 2020 but even then the numbers appear way off and without context the infograph is pretty useless. What does a comfortable retirement even mean and for how long in this case? Both of which could drastically change the numbers.
Nasdaq
Well-known member
I am lucky enough to have purchased in the US. I am not dependent on that for retirement but it will indeed help. I am amazed at prices now. I keep saying they won't go up anymore and they keep going up. I think the private equity funds goal is to make everyone become a renter and end up owning much of the real estate market. Good for those that already purchased but very bad for those that do not own.
Insurance costs are going through the roof. I am looking forward to selling this summer.
Betsy Ross
Well-known member
Correct. It is sad but now I don't really trust any infographic I see without really taking a deep dive on the data. And even then it might be wrong!
Sunny
Well-known member
And maybe that's not such a bad thing, after all. I know that doesn't sound nice, but reality isn't nice, it is what it is.
With the economy still in shambles and food prices so high, restaurants have to cut a lot of corners. Portions are smaller, ingredients are of much lesser quality, service also suffers.
Sunny
Well-known member
Even two years ago, in many areas, it was very difficult to get insurance. How much are they asking in your area?
It's reality but the worst part is it will be the local restaurants that will close while the national/international chains will survive. My favorite places tend to be the hole-in-the wall, mom-and-pop shops.
I came across this article crazy in parts of Florida average is over 11k for 300k dwelling.
Home Insurance Rates by State for 2024 | Bankrate
Home insurance costs and considerations vary by state. Bankrate explains.
Nasdaq
Well-known member
I agree sometimes the best thing for a company struggling is to just shut down vs. waste more of their savings or having to take out loans. It will be a rough ride the next year. Even back in the States many places have cut corners, drastically raised prices or sneaking and shrinking the size saying they didn't raise the price but they did as it's half the size of before!
Well I have my place in Florida and many companies don't even want to insure at all. In my area there are only 1 or maybe 2 companies that will provide quotes. It has more than doubled since last year. $900 per month rates and I have never had a claim in my life. Other friends in California are telling me they are having the same issue.
Betsy Ross
Well-known member
My sister is in California and she is in a higher risk area for fires and her premium went through the roof too. She is paying something crazy like $12,000 a year for coverage. She also never had a claim. It is a big turn off when you're trying to sell and can't get insured. She may sell while they still sell coverage because once there are no options it will be tough.
It sounds harsh but that is the necessary progression for a company or a person. Sometimes declaring bankruptcy and just starting all over is the only option. Or in the case of these government run companies, they should be privatized and if they can't survive they probably should think about shutting the company down.
I disagree with this strongly. Many companies shouldn't just be in for the money. Many companies run by the government provide a basic and necessary service for the people. Things like buses, train lines, subways, and I could even argue airlines serve a purpose in society and only dollars and cents shouldn't be factored.
James Bond
Well-known member
Sad reality is many are struggling now. I had a mate that had a restaurant in Palermo and he had to shut down. Same for another mate that has a bar. They told me it's the perfect storm with rental rates all going up, utility prices and also labor. They can't afford the increases. They said this will happen to many other places too. Everyone is getting squeezed and no one has money to spend except for tourists and there aren't enough of them now.
James Bond
Well-known member
So many Argentines have left or leaving.
tn.com.ar
El Gobierno informó la cantidad de argentinos que viven en España, Estados Unidos, Italia y Chile desde 2013 | TN
Según estimaciones consulares, más de 950.000 residen en esos cuatro países. Los datos surgen del informe de gestión que presentó el jefe de Gabinete, Nicolás Posse. Qué pasó en los últimos 10 años.
LongIslander
Active member
Huge jump for Spain. Interesting seeing less people in the USA than 10 years ago. Probably speaks to quality of life going down there while expenses have gotten really expensive here.So many Argentines have left or leaving.
El Gobierno informó la cantidad de argentinos que viven en España, Estados Unidos, Italia y Chile desde 2013 | TN
Según estimaciones consulares, más de 950.000 residen en esos cuatro países. Los datos surgen del informe de gestión que presentó el jefe de Gabinete, Nicolás Posse. Qué pasó en los últimos 10 años.
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