Is the Expat party in Buenos Aires coming to an end?

[Floripa]

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.

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]

How do they calculate that?

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]

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.

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.

 

[FuturoBA]

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.

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]

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.

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]

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.

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!

 

[FuturoBA]

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.

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.

Even two years ago, in many areas, it was very difficult to get insurance. How much are they asking in your area?

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.

www.bankrate.com

 

[Nasdaq]

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.

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!

Even two years ago, in many areas, it was very difficult to get insurance. How much are they asking in your area?

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]

Even two years ago, in many areas, it was very difficult to get insurance. How much are they asking in your area?

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.

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.

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.

 

[Larry]

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]

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.

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]

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.

tn.com.ar

 

[LongIslander]

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.

tn.com.ar

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.

 

[IrishLad]

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.

tn.com.ar

But how accurate are these statistics? Many Argentines have Spanish passports. Presumably when they leave don't they just leave and enter Spain with their Spanish passports?

 

[David Turf]

Even though Argentina is going through a major economic crisis, more and more foreigners are choosing to settle here with their families. What makes so many people choose Argentina as their new home, especially when they could opt for other places?...I've been living here for two years now, and I think I've found my place in the world. I would never go back to the USA. The peace, tranquility, and happiness I have here are something I wouldn’t trade for anything. It excites me that more foreigners can experience this too, so when people ask me for advice, I always tell them how beautiful and incredible it is to live here and I'm not the only one, many people say the same thing 😊

 

[florenceb]

Even though Argentina is going through a major economic crisis, more and more foreigners are choosing to settle here with their families. What makes so many people choose Argentina as their new home, especially when they could opt for other places?...I've been living here for two years now, and I think I've found my place in the world. I would never go back to the USA. The peace, tranquility, and happiness I have here are something I wouldn’t trade for anything. It excites me that more foreigners can experience this too, so when people ask me for advice, I always tell them how beautiful and incredible it is to live here and I'm not the only one, many people say the same thing 😊

If you ask me, one of the main attractions is the warmth of the people. In Argentina, human connections are central. Argentinians are known for being friendly, open, and always ready to share a mate or invite you to a barbecue. This culture of closeness and community contrasts with the more individualistic life that can sometimes be experienced in countries like the United States, so I'm very happy here.

 

[MickMolloy]

The party will never come to an end. This is the greatest city on Earth. The entrance fee and cost might go up tho

 

[Finance Prof]

The party will never come to an end. This is the greatest city on Earth. The entrance fee and cost might go up tho

That is a great way to look at it. You're right @MickMolloy. I think the very cheapo days are gone from the lows but that is ok. It is still a great value and much funner than living in the United States.

 

[Vero]

Even though Argentina is going through a major economic crisis, more and more foreigners are choosing to settle here with their families. What makes so many people choose Argentina as their new home, especially when they could opt for other places?...I've been living here for two years now, and I think I've found my place in the world. I would never go back to the USA. The peace, tranquility, and happiness I have here are something I wouldn’t trade for anything. It excites me that more foreigners can experience this too, so when people ask me for advice, I always tell them how beautiful and incredible it is to live here and I'm not the only one, many people say the same thing 😊

I watched some of this American's YouTube channel. I also read some of his X posts and some are disturbing. He is making fun of gays and lesbians. Argentines are very accepting of people. It is surprising and shocking that a foreigner that would come to have a baby for citizenship here wouldn't be more accepting of others. The locals are quickly turn on this American. He is antagonizing locals. Something tells me that he will probably not last long in this country.

https://twitter.com/x/status/1828075955513872595

 

[Uncle Wong]

I watched some of this American's YouTube channel. I also read some of his X posts and some are disturbing. He is making fun of gays and lesbians. Argentines are very accepting of people. It is surprising and shocking that a foreigner that would come to have a baby for citizenship here wouldn't be more accepting of others. The locals are quickly turn on this American. He is antagonizing locals. Something tells me that he will probably not last long in this country.

https://twitter.com/x/status/1828075955513872595

I read some of the posts. Although I'm a straight male, I respect the right of others that are gay. It's crazy that he would act like this in a new country. Looks like he is already will have to move out of CABA. He has young kids. I would think he is putting a target on his family's back by acting this way. Just ignorant to act this way in a new country.