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.

 

[Content Provider]

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.

How did you get that much? I also took my social security at 62 and it is half of that.

 

[CraigM]

How did you get that much? I also took my social security at 62 and it is half of that.

It's based on how much you paid in and for how long. I believe the calculation is based on your highest 35 years of earnings starting from age 22 to when you pull the trigger on SS. To get the maximum you have to have earned $176k for 2026, which is inflation adjusted so earlier years are lower. If you earned the maximum for 35 years, monthly payments for 2026 are:

• If you retire at 62: $2,969
• If you retire at 67: $4,152
• If you retire at 70: $5,181

 

[MikeYoung]

It's based on how much you paid in and for how long. I believe the calculation is based on your highest 35 years of earnings starting from age 22 to when you pull the trigger on SS. To get the maximum you have to have earned $176k for 2026, which is inflation adjusted so earlier years are lower. If you earned the maximum for 35 years, monthly payments for 2026 are:

• If you retire at 62: $2,969
• If you retire at 67: $4,152
• If you retire at 70: $5,181

Yes it is based on 35 highest years. My dad waited until he was 70 and he is getting $5100 USD per month! I'm not sure which is better because my uncle did that and he only lived to 75 so sounds like it might have been better to take it younger to enjoy it more. But my pops is healthy and enjoying his stash. I'm trying to talk him into moving down to South America but he never will.

 

[Finance Prof]

How did you get that much? I also took my social security at 62 and it is half of that.

They sucked the life out of my paychecks for 35 years. I always paid in the maximum each year. Fortunately there was a cap or they would have taken more!

Who knows if I will get sick or not. I heard of too many people waiting and then passing away. It is enough for me to make it in BA.

 

[Betsy Ross]

That is plenty of money to live well in Argentina between the two of you. Even in Buenos Aires which is the most expensive city in Argentina you can get by on $3,725 USD per month. Easily.

I wouldn't so easily Jon. For two people if you are paying rent on a nice place you can spend a lot of money. But if you live like a local and don't go out much but costs have jumped up. Healthcare premiums have jumped up and it is easy to spend a lot on electricity and HOA bills now. Honestly I don't think that is too much money now. Only if you own your own property.

I plan on taking SS at 62. I have a few more years to wait. I should get about $2,500 dollars per month based on my estimate. You can check here:

https://www.ssa.gov/prepare/get-benefits-estimate

 

[crypto]

It's based on how much you paid in and for how long. I believe the calculation is based on your highest 35 years of earnings starting from age 22 to when you pull the trigger on SS. To get the maximum you have to have earned $176k for 2026, which is inflation adjusted so earlier years are lower. If you earned the maximum for 35 years, monthly payments for 2026 are:

• If you retire at 62: $2,969
• If you retire at 67: $4,152
• If you retire at 70: $5,181

Does anyone really think some of us that are younger in our 20's or 30's will see any benefits? They keep saying they will run out or make us work longer. I don't think they could touch the SS program but what do you think?

I wouldn't so easily Jon. For two people if you are paying rent on a nice place you can spend a lot of money. But if you live like a local and don't go out much but costs have jumped up. Healthcare premiums have jumped up and it is easy to spend a lot on electricity and HOA bills now. Honestly I don't think that is too much money now. Only if you own your own property.

I plan on taking SS at 62. I have a few more years to wait. I should get about $2,500 dollars per month based on my estimate. You can check here:

https://www.ssa.gov/prepare/get-benefits-estimate

Thanks! I didn't know you could get benefits. Very cool. I don't have much of a work history but I see how much I paid in. Thanks Betsy!

 

[import export]

How did you get that much? I also took my social security at 62 and it is half of that.

It sounds like you didn't pay very much into the system. It's based on how much you paid in. As Craig mentioned the top 35 biggest years that you paid the most in.

I am still working so will wait. On my estimate it is over $5,100 if I wait and I hope they increase with cost of living. That is more than enough to live here in Brazil.

 

[BarryBloomWwf]

$3k usd a month while owning your apartment would be a dream and better than 95 percent of people on earth so try be happy

 

[Finance Prof]

$3k usd a month while owning your apartment would be a dream and better than 95 percent of people on earth so try be happy

I'm not complaining. Fortunately I own a place. I have many friends that had to move out of Buenos Aires. There are a lot of people here living on social security because they couldn't afford the US. Some never thought it could get as expensive as it is getting. But feel blessed to have the $3K a month.

 

[Wally]

It sounds like you didn't pay very much into the system. It's based on how much you paid in. As Craig mentioned the top 35 biggest years that you paid the most in.

I am still working so will wait. On my estimate it is over $5,100 if I wait and I hope they increase with cost of living. That is more than enough to live here in Brazil.

Wow that will be a great amount to get. I'm not sure how long you will have to wait. $5100 a month sure isn't the same as it used to be. Damn inflation!

 

[jbeas176]

professor, i beat my income up to take deductions. i am cash heavy. the mistake i made when buying my property was submitting a finanical sheet for a million dollars. i am pretty sure they won’t forget.

 

[jbeas176]

a financial statement was required from the escribana to show the money was clean

 

[ben]

professor, i beat my income up to take deductions. i am cash heavy. the mistake i made when buying my property was submitting a finanical sheet for a million dollars. i am pretty sure they won’t forget.

a financial statement was required from the escribana to show the money was clean

No you will be ok. I had to do the same thing when I bought my place. That is not for the government. That is only for the lawyer to show that your money was legal. From what I have been told that is not shared with ARCA so you are ok.

 

[Uncle Wong]

$3k usd a month while owning your apartment would be a dream and better than 95 percent of people on earth so try be happy

I did the math and assuming I don't have any kids and I have a paid off place in Buenos Aires, $3,000 USD per month should be enough as of today. You gotta figure if locals can get by on very low salaries than someone getting $3k a month should be able to swing it. Big wildcards to me are cost of healthcare. I am planning on buying in a building with not many amenities so my HOA fees are reasonable. I noticed the buildings with pool,, 24/7 security and gyms are very expensive! But many buildings seem like they are ditching doormen and just going with the electronic video monitoring system which are reasonable.