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If you are good and able to build up a sizable account, for example, 100 millions, and no longer able to get a good return with it, then you have to convert your paper into hard asset. The best asset type is rental property. People always need a roof. And in the US, we have very favorable law for real estate. Bankers love to lend you money to buy home.
I disagree, but so be it. Compare it to anything else and why do you say it isn't a good one?
If you look temporarily, than yes, you are right. Can you buy in and have an illiquid issue of value, that is why location and timing are everything. With other investments, mostly timing is everything!
If you buy in a location which people will always want to be like:
1. Good jobs
2. Good education
3. Decent weather
4. Low Crime
Etc...
I know, people will disagree on what metric is low/high, but pick a place like Santa Barbara, or most of the coast of California, Hawaii, parts or other areas that have high barriers to entry and you will find the values continue North. (Manhattan, Hong Kong, Tokyo, etc..)
my dear friend that's what i was saying.temporarily i don't think that investing in real estate is that good.
on the long run though, now is the time to buy properties and gain a substantial profit
when the market turns.
Sure Mike , I will give feedback when returning from Costa Rica ( resident visa , real estate , health program , cost of living , internet , taxes etc).
I am willing to visit mainly the pacific ocean side ( Nicoya Peninsula)
When I move out of the States, my mom has expressed interest in joining me and living near wherever I ultimately decide to reside.
However, she receives disability and social security right now from the US. I am just wondering, will she continue to receive these benefits outside of the US? Or do I need to add this to my monthly budget to cover the "lost" money for her.
I had wondered the same thing for me, if I would still collect SS retirement when I reside outside the US. I mean I paid into it, I assume I will still get to collect it, but who knows with the crazy rules. And of course who knows what it will actually look like by the time I retire, I have assumed it will be zero positive income for me but still wonder what you guys say.
Yes, you can continue to receive your Soc. Sec. payments to your new foreign domicile. My best friend is British and lived and worked in U.S. for many years. He had dual citizenship. When he left, he even renounced his U.S. citizenship but has still continued to collect his monthly Soc Sec. stipend every month. It took him a try or two to get it set up properly but he has collected it now for over 10 years from overseas.
Of course, as you alluded to earlier, there's simply no telling how long such schemes will continue in force given the dismal economic situation headed in our direction. I do however, think it would behoove you to make your move prior to January of 2013 as capital controls implemented through a sneaky addition to the new Hire Act and FACTA will come into play, making it ever harder for Americans to conduct financial transactions overseas due to onerous reporting and withholding situations being foisted upon foreign banks who cater to Americans.