Permanently overstaying in Argentina because we can't afford to live in the United States

[jbeas176]

i will the first to admit i don’t know what residence taxes are. i move around after 90 days

 

[Finance Prof]

i have been going to argentina for 20 years. i bought a place 20 years ago. my pension is alot like yours. i now have a wife and although prices are higher now, its affordable on my pension. the exchange is constantly changing. it could revert back to being cheap again as the economy is under going a change. the are opening the borders. the 3600 a month is alot of money in buenos aires. just learn the banking system and keep your money in dollars. fly under the radar. if you become a resident be careful. they have a world wealth tax. i think its 1% a year. people in the usa pay taxes as the earn them while getting old not after. in our retirement years we only pay capital gains not on social security. just saying

Many of us sound like we are in the same boat. I know there are a few European expats on this forum but most of us seem like we're from the US. We often complain about the higher cost of living but Buenos Aires typically hasn't been as cheap as it was a few years ago but admittedly it feels expensive now. Utilities and condo expenses seem higher than I've ever paid. I'm not sure how it was before the Corralito but probably in USD terms also expensive as it was $1 to 1 back then. But everything was much less expensive with inflation.

Jim gives good advice about being careful with the wealth tax in Argentina. I almost didn't get my permanent residency here because I own a few properties in the US but not really worried about what I have outside of Argentina. They seem to only focus on what you have inside Argentina.

I took my social security as soon as I could at 62 and it's about $3,000 USD per month. If you own your own property here that is still plenty to live here if you don't go out to eat too much.