Expat or semi-retiring to Central/South America, or other continents?

[MattNYCParticipant 2329]

Men,

I haven’t seen much in the forums on any of our brothers who have successfully migrated out of the US/other feminazi countries, or are working on a plan to do so. I’d like to throw out some personal ideas, and if anyone has thoughts, comments, resources/links, or hilarious comments i’d appreciate them all. Hopefully we can all learn.

I didn’t see a specific forum/area for this so apologies if it’s in the wrong place.

Currently i’m in my mid-30s, working for a large bank in NYC.

I plan on moving to latin america (weather, cost of living, scenery/surfing, and opportunities to volunteer-teach English) in the next 10 years or so. One possibility is buying a place near the beach in Costa Rica for ~$200,000, which is the minimum requirement for real-estate investment to get residency there.

From there, i’d either:
1 – Continue my current job, but on a 95% telecommuting basis from my place in Latin America. [My employer’s pushing a lot of people to permanent telecommuter status to save on office space (NYC offices = expensive!), over the next ~5 years.]
2 – Leave my current position at the bank, to do part time consulting in my field. I could easily charge enough per hour such that covering my living expenses & then some in a developing country could be done in ~15 hrs per month.

My questions:
Q1 – Does anyone know how to most advantageously structure a consulting firm (LLC?) in the US, and/or possibly one offshore, to minimize tax liability?
Q2 – In terms of executing the purchase of real estate as a foreigner – i know some countries are more friendly to it than others. Costa Rica allows for total ownership (no 49%/local-citizen-wife to own 51% nonsense), but not entirely sure about others. Brazil perhaps, or Colombia?

[RoyDalParticipant]

1. Low cost of living.
2. Agreeable climate.
3. Interesting local customs and mores.

What’s not to like?!

Society asks MGTOWs: Why are you not making more tax-slaves?

[RealityBitesParticipant 2198]

Ecuador is cheaper than Costa Rica

[MattNYCParticipant 2329]

RealityBites wrote:

Ecuador is cheaper than Costa Rica

Yup i just heard about that within the last couple weeks or so; I’ve been to CR & Ecuador, but only hit the beach in Costa Rica. I didn’t quite have time in Ecuador.

Wherever i wind up – whether it’s CR or Ecuador or Venezuela (will definitely be a few years before i consider it!), as long as it hits a few basic criteria i’m good.

Expat/retiring in Latam in your future? I thought it a bit surprising that i didn’t find a lot of MGTOWs giving it much consideration.

[Cipher HighwindParticipant 1144]

MattNYC –
Q1 – I would advise consulting an attorney. If possible, have the LLC in a state with no income tax.
Q2 – I would suggest looking in to Peru, especially Cuzco on account of its rather mild climate and expat-friendly infrastructure.

Peruvian citizenship can be obtained relatively quickly. Perhaps it will help you to escape the IRS’ reach. Who wants to pay tax to a dump like the United States?

[DustyJGParticipant 15]

I’m a 46yo single retired soldier collecting the VA disability I’ve earned and working as a gov’t contractor at the same pay rate I had before retirement. My plan is to purchase a modest house to live in for the next 10 years while I pay it off. I don’t pay property tax in my state because of the VA disability. I’m on track to pay off the 15 year mortgage in 7 years, spend 3 years banking everything else, then becoming an expat while renting out my paid for house through a management company. Between the rental cash flow, retirement check, and VA disability I should be living a comfortable MGTOW life in Ecuador by the time I’m 55yo and yet still young enough to enjoy myself.

[BeerParticipant 11832]

Cipher Highwind wrote:

Who wants to pay tax to a dump like the United States?

My plan to avoid paying taxes…for 2016, if your income is 37,650 or lower your capital gains tax rate is 0%. Pretty much all my retirement money during early retirement years is going to be capital gains. 37,650 living in Ecuador or Thailand or somewhere is quite a bit of money…I’m simply not going to have much more passive income than that amount because when I get to that amount I’m done working…why work extra years of my life just to make more money, pay more taxes, and ultimately end up with more money that I don’t need. If I get over that amount…no problem…funding an IRA allows me a 5,500 dollar buffer if I stuff money into an IRA…so I could earn up to 43,150 and not pay a dime in taxes.

I’m also taking advantage of a 401k right now, so ideally when I’m 40ish, maybe I’ll have a million in post tax accounts and 400-500k in my 401k. This is my backup money. Hopefully it will be left alone to compound until I’m old enough to take it out penalty free…20 years of compounding at even just 6% would turn a half mil into 1.5 mil. If during my early retirement years I spend my principal down a bit on my post tax money during a bad year or two…its no big deal, I’ll have plenty of money to fall back on.

When I get a bit older though, I have some pension income waiting for me at 64 and social security around that age as well, plus RMDs on retirement accounts…I’ll be getting hit with some taxes at that point. I’m not going to worry about it though…if I go from 40-64 without paying a dime in taxes I think I did pretty damn good…plus I wouldn’t mind the option of moving back to the states and buying a little place in a low cost of living area if I got tired of being abroad. Mainly I’m just setting myself up to do well based on today’s rules, but if things change down the road I’ll be prepared to adjust accordingly.

[MattNYCParticipant 2329]

DustyJG wrote:

Between the rental cash flow, retirement check, and VA disability I should be living a comfortable MGTOW life in Ecuador by the time I’m 55yo and yet still young enough to enjoy myself.

This sounds great man. Plenty of opportunity in Ecuador for a 55-years-young guy with solid experience. Thoughts about what you’d do in semi-retirement? My original plan was to volunteer-teach English + some remote consulting on the side.

Bonus points: Ecuador uses the US dollar so no currency risks/exchange fees you have to worry about.

[DustyJGParticipant 15]

Coming from a military background that uses commercial off-the-shelf equipment for IT requirements, I’d considered free-lancing in the Cisco VoIP and Honeywell intrusion detection systems arenas in Ecuador just to keep my brain from rusting and to stay current with the progress of technology. Everyone likes to make phone calls and think they’re secure. Short of building caskets or producing toilet tissue, phone and security systems are almost always going to be in demand.

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