Is the new American dream to make money there and retire somewhere else
Posted by New-Possibility6666@reddit | expats | View on Reddit | 165 comments
So as many say that the job market is tough in USA and probably everywhere else so now the new American dream for the people is to make money in USA , accelerate ther wealth and savings and retire in some european country with serenity, tranquility a great quality of life and not so much captialistic culture
I am an Indian who is planning to go for masters in engineering management from USA and want to work in product management as it's my niche and accelerate my savings like upto 2 million dollars and come back or go to some other country
I am open to lots of suggestions and advices from folks who have done that
circle22woman@reddit
No, I don't think that's the new American dream.
You're open to suggestions from people who have saved up 2M USD?
Affectionate_Age752@reddit
That's the thing. You don't have to save 2m usd to have great life outside of America
circle22woman@reddit
You don't have to save 2M to have a great life in America.
Affectionate_Age752@reddit
Yesh. You do.
circle22woman@reddit
LOL, average savings is $333,000 at retirement in the US.
By your standard nobody in American has a great life in retirement.
Press [X] to doubt.
Affectionate_Age752@reddit
That's on fact a true statement. The majority of Americans don't have a great life in retirement. That's why they keep working 7btil they physically can't anymore
circle22woman@reddit
Why do you keep comments without checking first?
Median retirement age in the US is 63.
Stop making things up
Affectionate_Age752@reddit
After checking your profile, and seeing you're responses to various posts, I realize you're completely clueless, and you pretend to be a expert in everything.
circle22woman@reddit
I'm not an expert, but I don't saying things that aren't true like the comment I replied to
Affectionate_Age752@reddit
They're not true based on your opinion
circle22woman@reddit
No, they are factually not true.
Affectionate_Age752@reddit
Like i said....
Affectionate_Age752@reddit
Like i said....
Affectionate_Age752@reddit
Wrong again. Just because people are officially retired, doesn't mean they're not working.
circle22woman@reddit
No, it's census data when they ask people "are you working?"
Jesus, please do some research. Most of what you've said is 100% wrong so far.
Affectionate_Age752@reddit
Keep living in your fantasy where just because things are great for you., you think it's like that for everyone.
circle22woman@reddit
I'm actually doing the opposite and relying on actual data not internet stories?
Affectionate_Age752@reddit
https://www.newsweek.com/america-retirement-dream-dying-affordable-costs-savings-pensions-1894201
circle22woman@reddit
"one in four workers aged 50 and above who haven't yet left the workforce believing they'll never retire, according to a recent survey."
Wow! "Believe" is such strong evidence.
Affectionate_Age752@reddit
https://cnn.com/cnn/2024/04/02/economy/americans-struggle-to-save-as-retirement-crisis-looms
circle22woman@reddit
Great article! They interview one guy who is "worried".
Forgive me, but I'm not convinced.
New-Possibility6666@reddit (OP)
Not necessarily but those who earned any number be it 1M or 10M and those who moved to European countries
South-Beautiful-5135@reddit
You’re desilusional.
gasu2sleep@reddit
Cost of living in America (along with the rest of the world) has increased dramatically. I migrated to the US in my early 20's and plan to geo arbitrage during my retirement in a low cost of living country. My birth country Brazil will probably be my home base. This strategy is becoming extremely popular, since while in the US a 40-70k (if your lucky) yearly retirement budget won't get you very far, depending in your country you decide to retire, it might translate into a significant lifestyle upgrade. So while this wasn't my plan when I moved to America over 20 years ago, now it's my main plan.
New-Possibility6666@reddit (OP)
Is it possible to earn upto 2million dollars in USA in 12-15 years by earning, saving and investing so that I can return back to India
gasu2sleep@reddit
Possible yes. Easy, definitely not. You would have to invest nearly 90k a year during that time to reach 2M dollars. Unless you have a very high paying job or own a profitable business, it's unlikely. The average American household makes 70k a year. You would need to make considerably more (probably at least 150-180k year) in order to save 90k. Let me give you an example, I've been in the US for 22 years, by the time I was in the US for 12 years, I had a net worth of NEGATIVE (-220,000.00). All student loans and a small amount of credit card debt. Now the last 10 years I've been very fortunate and have reached over 5.5M NW. That's because I choose a relatively profitable field in healthcare and most importantly, I was extremely lucky to be in an industry that profited immensely during the pandemic. Let me say that again... I was extremely lucky!
But in matters of where in the world to be for the greater chance of having opportunities, I still think it's America (for now). Here, with hard work and luck you can accomplish things otherwise almost impossible in other countries.
New-Possibility6666@reddit (OP)
Thanks a lot , this is the reason I chose product management for in tech as field
mayfeelthis@reddit
Maybe for Americans, for most migrants thats been the dream.
WeezaY5000@reddit
They are coming here, but a lot of Americans are leaving.
The American Dream may have worked in the past, if it was ever real in the first place, but it is seemingly more out of reach for more people.
My grandfather was a milk man and drove a milk truck for Borden's for 50 years. Since he drove a truck he was member of the Teamsters. Working full time with a union job and only a high school education was enough to raise 2 children and have a middle class life on one income, own a house, and have two cars.
Pretty much everything I just said is impossible for the average person.
South-Beautiful-5135@reddit
Two things: 1. That is basically the case in most countries nowadays. 2. Many people don’t realize that former generations also did not spend that much money on luxury like regular international travels, tech, etc.
ZebraOtoko42@reddit
International travel is dirt cheap these days unless you try to live like a millionaire. It's not like decades ago. And it's far cheaper than just buying a basic car in America these days, or just paying rent.
ArbaAndDakarba@reddit
Inflation has eroded earnings to a point where inequality is really high and you have to have two incomes to afford rent.
analog_subdivisions@reddit
"...Pretty much everything I just said is impossible for the average person..."
...it's "iMpoSsiBLE" if you assume you deserve a 5 bed/4.5 bath McMansion with a pool and 3-car garage in a desirable leafy suburb with good schools near a HCOL city - your "grandfather" had a Levittown shack with no AC and shared 1 car and 1 bathroom for the whole family...you could still afford this lifestyle if you stopped complaining, got a job, and moved to a LCOL area to settle down...
mayfeelthis@reddit
You’re absolutely right.
The thing about globalization is that people are now aware that you can go where your skills/currency are valued. So there’s more migration.
My point was that most migrants who came to the west dreamed of doing well enough to retire back home for the most part. That was always the dream for a lot of migrants to date. I agree I am not sure the American dream ever existed…
Gandalf-and-Frodo@reddit
I don't know. I'm very disconnected from the average American. It's definitely my dream. But I think the average American still is very closed minded and beaten down by the system. I doubt that a large percentage people even seriously consider leaving.
Willing-Love472@reddit
For many Americans, the new American dream is to make money there while living somewhere else, aka remote work. Earn in dollars, spend in pesos or whatever.
Massive-Attempt-1911@reddit
Name a company that will let you work in a non USA country and pay you a USA wage in dollars. If that actually happened everyone else in that country would sue them for the sane wage. Not happening.
Gandalf-and-Frodo@reddit
That's why people get a wireguard VPN and hide their location while working.
Willing-Love472@reddit
I mean working for a US company while living not in the US... So earning US wages, working remote, and living in a place with a dramatically reduced cost of living, so you can save and invest a much higher percent of your income vs living in the US.
Massive-Attempt-1911@reddit
Unless you’re taking a situation where someone with unique skills is sent on a temp international assignment to do something like set up a nuclear reactor or something custom, Corporations just aren’t going to do it on a long term basis. They’d have no local staff in that country if they did.
Plus they have no reason to do it. Why pay someone a US rate when they can pay another person in the non USA country with identical education, skills, and certs 20% of the US rate for the same job?
Willing-Love472@reddit
Obviously doesn't work in some industries or sectors, but there are already tons of jobs and tons of people who do this already. Remote and online work is pretty common and became much more common with the pandemic. Most people do it with the company knowledge and approval and some people do it in less ethical ways by not telling the company, running a proxy or VPN. Lots have been doing it for years with corporations. Others, of course, are freelancers or own their own small business, etc.
Point remains, there are lots of ways for US citizens (for example) to become expats and continue to work remote, earn dollars, and live in a place with a lower cost of living.
Massive-Attempt-1911@reddit
I worked for a company that’s been doing remote work exclusively for most jobs for decades long before Covid made it trendy. The number 1 outsourcer in the world so I know the laws and protocols. Remote work with the same geo is totally different from remote work outside the geo. No company is going to knowingly pay a person doing job “a” $100 an hour when another person doing job “a” is getting $10 an hour purely on the basis that they were born in the country whereas the expat flew in from USA. It’s not legal in most countries. It’s makes zero business sense. What’s in it for the business?
What companies are doing what you are saying? Have you done this but you can’t say cause you have to lie to get away with it? I’m going to call bullshit until you provide specific companies with the “tons” of jobs.
Luvs2Spooge42069@reddit
You don’t think someone who already works entirely from their laptop can take that laptop and work in another country?
Massive-Attempt-1911@reddit
It’s not a technical question. It’s a legal question and a commercial question. There is no reason why a company would pay multiples of the country rate when they can pay the current rate. Also it’s potentially tax evasion when you claim to have an employee in one tax location when they are actually in another. And the same may apply to the employee. Not sure why this is so difficult to understand.
Luvs2Spooge42069@reddit
I think you’re a bit behind the curve on this one, a pretty large chunk of people on this sub are doing this
Massive-Attempt-1911@reddit
I’m on the leading edge dude. It’s what I do. I move work all over the world. If what you were saying was true it would be the end of a multi billion dollar business.
Tell me the name of a single company that does this? You can’t can you? I’m still waiting. I’ve asked that question several times and all I get back is crickets and the generic line “everyone is doing it”.
Once the country you live in finds out people have been working there with no work visa and paying no taxes they’re going to be chasing down the offenders. Ignorance of the law is not a defense. Countries don’t like tax evasion. Once they find out the company had been mis reporting their required financial disclosures they’re going to report them to the SEC/FINRA. Corporations who pay payroll taxes in USA instead of the correct country are committing tax fraud. Hello? Is anyone at home?
Once the company finds out they’ve been paying US rates to someone living in India, Costa Rica, or some other LCOL and stealing from them and their colleagues working side by side in that LCOL country, they’ll have a serious issue with it.
Name a single company that claims to be doing this legally. Name one. I’m waiting. You can get away with this short term but keep it up and they’ll eventually find you.
New-Possibility6666@reddit (OP)
It's also a preferred choice for many
Tex_Skrahm@reddit
No
coldlightofday@reddit
European culture is plenty capitalistic. It’s certainly not cheap in most places that people would want to live. The destinations that people move to for cheap, affordable retirements are 3rd world countries in places like Central America and SE Asia. Europe is a retirement destination for wealth.
More people immigrate to the U.S. than away from the USA and most retirees stay in the U.S.
Affectionate_Age752@reddit
Most people emigrating here are from poor, 3rd world countries
coldlightofday@reddit
Same as everywhere. The bulk of immigration is driven by better economic opportunities.
Affectionate_Age752@reddit
Missing the point.
People do not move to America from Europe to retire. Whereas the opposite is true
coldlightofday@reddit
This is nuanced with many different points.
Not many people move from the U.S. to Europe for retirement in reality.
Retiring abroad is very expensive in Europe or the USA. There are far more Americans that have the income to pull it off than the other way around. There is a heavier tax burden in Europe that further depletes monetary resources.
Retirement benefits systems work differently in European countries. Most Europeans don’t have 401ks or any kind of self directed retirement plans where they choose how their retirements are invested. Essentially, their full retirement works closer to social security type of scheme. Many European full retirement ages are in the upper 60s. By the time these people are retiring, most are beyond that youngish/fun retirement age of the 50s-60s.
Speaking of the young/fun retirement period. Many people who retire overseas eventually move back.
Since America does have so much immigration, there are a lot of Americans married to immigrants who would like to retire back in their countries of origin.
Affectionate_Age752@reddit
You're wrong. The number of Americans retiring abroad has almost doubled in 20 years.
Anyone with half a brain living in Avery a, rill do the same.
https://fortune.com/2024/07/07/americans-retire-abroad-cheap-healthcare-spain-europe/
coldlightofday@reddit
Well the population has increased a lot in 20 years and I don’t see a source for your doubling number.
The article you did share is the opinion of 2 people. That’s anecdotal. Show me real statistics.
Affectionate_Age752@reddit
The populatiin hasn't doubled, and the statistical data is what it is.
coldlightofday@reddit
Where is the statistical data?
Even if it has doubled it doesn’t mean it’s for the reasons you think it is.
Affectionate_Age752@reddit
Reading is nedd, isn't it.
https://finance.yahoo.com/news/boomers-leaving-america-retire-abroad-110000534.html
coldlightofday@reddit
Oh wow, an article that has numbers that are less than your claim and during the largest retirement period in U.S. history as nearly all boomers, the largest generation to retire, retired during that period. Not only that it uses people who are originally from the countries they are retiring to as examples.
Greece has nearly 13% unemployment. The retirement age is 67. The average salary is around $17k a year.
So yeah, it’s going to be cheaper in Greece for someone being money with them but it’s a terrible situation for the working population there.
Affectionate_Age752@reddit
You really are quite dense, aren't you. We're literally talking about Americans retiring abroad.
coldlightofday@reddit
All your comments are as basic as it gets. You really don’t understand nuance, a broad set of causes and effects or much of anything. Good luck on your journey and sorry about your unfortunate inability to make it in the world’s best economy. Maybe scapegoating where you live for your failures will work out better for you in Greece. Good luck!
Affectionate_Age752@reddit
BTW only about 60% of Americanshave a 401k. 20% have no retirement savings
coldlightofday@reddit
Yes, and those who don’t are not moving overseas. They both can’t afford it and aren’t desirable to other countries because they bring no money with them. The U.S. is a place of extremes. Extremely wealthy, extremely poor and everything in between.
Affectionate_Age752@reddit
Fact is. You can live better off if social security elsewhere, than in America
coldlightofday@reddit
Are people who only have social security to live off of the people who are moving abroad?
Affectionate_Age752@reddit
They're the ones who can actually have a better life abroad, if all they have is social security
coldlightofday@reddit
I didn’t ask a hypothetical. Read the question again. What do you think the real answer is?
Affectionate_Age752@reddit
It's a dumb question I response to the fact I posted about having a better life abroad of a you have is social security
coldlightofday@reddit
No, you just either don’t know or don’t want to answer. If it were that simple, everyone on social security would just move abroad but they don’t. They largely are not the demographic moving abroad.
Affectionate_Age752@reddit
Still dense. Keep on rambling
Affectionate_Age752@reddit
The average American has $65k in savings. Their main source of retirement will be social security, which will go far, far further abroad than in the USA
coldlightofday@reddit
Not in most of europe. SE Asia, sure. Europe isn’t cheap in the places most people would want to live. Also they don’t just let you take part in their socialized healthcare plans just because you show up. Most retirees aren’t just given citizenship and all the benefits that everyone else paid into for a lifetime. Your image of how this works is in your head.
Affectionate_Age752@reddit
Wrong, I know exactly how this works, as I'm doing it
coldlightofday@reddit
A very cursory look at your profile says you live in LA…
Affectionate_Age752@reddit
First off, I grew up in Europe. Leaving for Greece permanently next month.
The fact you've been living overseas for years as you yourself stated is simply proof you have no idea Wtf it's like actually living here now, and the cost of living.
CommitDaily@reddit
You just described the Filipino dream ✨
arie1c@reddit
So true. Work hard to make it in the US, work hard to raise your family and savings and then retire to where you came from. This is still probably the best country to live in, given how attractive it is for immigrants. But citizens can have the recourse of going the opposite direction after their goals are met.
mmxmlee@reddit
why would someone want to move away from their kids and grandkids?
only retired single divorced men do that. (generally speaking)
Affectionate_Age752@reddit
Because, in a lot of cases they don't live close anyway, and you see them twice a year.
mmxmlee@reddit
many times once people retire them move closer to their kids/grandkids.
Affectionate_Age752@reddit
Not if they can't afford to. And that's how it is today
mmxmlee@reddit
can almost always afford to. 1h drive out of major metros, prices drop drastically in rural areas.
Affectionate_Age752@reddit
No they don't. Dream on
I'd rather live on an island in Greece, than some backwater shithole, anywhere in the USA.
mmxmlee@reddit
sure they can.
you simply don't love your kids and grandkids enough.
which is ok lol
Affectionate_Age752@reddit
Wrong again.
Massive-Attempt-1911@reddit
Why wouldn’t you? You’ve dealt with your kids for 20 years. Now they only want you around to be unpaid babysitters. No thank you.
mmxmlee@reddit
tell me you don't love your kids and grandkids without telling me you don't love your kids and grandkids lol
atchijov@reddit
Your best bet is to find remote gig (does not have to be in US). I am not saying it would be trivial to do… but it is definitely possible.
New-Possibility6666@reddit (OP)
Thanks a lot , btw I am waiting for presidential elections results too , its result will ask decide the course of current job market and scenario
paspatel1692@reddit
Why?
atchijov@reddit
Because no one wants to live in bigger version of North Korea run by Christian Facists and literal criminals.
No-Tip3654@reddit
I am not saying that Harris isn't criminal but at least she seems to be less destructive than Trump. It's really the choice between cholera and pest. Either it is going to be bad but one option is even worse.
Massive-Attempt-1911@reddit
Pls explain her positions as I have not been able to find a straight answer anywhere. Perhaps she has gotten her message out internationally. The debate was useless as a fact finding exercise.
What is she proposing with the 10% 12% 22% 24% etc tax brackets expiring end 2025? Is her position on the border different than it has been for the past 4 years which is essentially do nothing. Does she still want to imagine ICE whatever that means? Is she still comparing ICE to the KKK. Does she still favor equal outcomes instead of equal opportunity? Does she still want to ban police from schools? Is she still raising money to bail criminals out of jail. Does she still favor having parents on the FBI terror watch list for wanting to know what their kids are being taught? Does she still favor kids being taught about transgender identity when they are 10 instead of math science and reading.
I guess that is all less destructive than low inflation, a great economy, a secure border, and feeling safe walking our streets. What were we thinking???
No-Tip3654@reddit
Again, I am not saying that the democratic party is morally superior to the republican party. I am just not sure how good of an influence a president can be that has ties to Putin and Russia. A stable and good economy cannot be achieved without a goldstandard and wages that reflect the marktvalue of an employees workforce. Nor can there be equality of opportunity if the quality of your high school education is bound to the circumstance wether you live in a more wealthy or more poor neighbourhood. Highschools are being funded this way and that is essentially segregation between the rich and the poor. The same goes with higher education. The US charges more % in taxes than Switzerland but offers no cheap higher education while Switzerland manages to do that despite collecting less taxes percentage wise. Trump won't change shit about that. He also won't change nothing about air polution in big car centric metro areas, let alone fund public transport a la Switzerland and have a proper functioning social safety net for people suffering from severe poverty due to the two-class-system of opportunity concerning education and further job prospects. The whole gender debate is a distraction from way more concerning issues as the total destruction of purchasing power through artificial inflation and the likeliness of a digital currency being introduced which will completely control all actions that a citizen takes. No money, no means to do something. If you say something against the government, your bank account will simply get frozen. Citizens will be completely dependent on the government and eventually become work-slaves due to this unbalanced power dynamic. This is not party specific, but a plan that the World Economic Forum that has infiltrated politics, economy and culture all over the world, pursues. I don't think Trump is going to do anything against that. Kamala won't do anything against that either as she is just a WEF puppet. Like most politicians in the West.
Massive-Attempt-1911@reddit
It is the liberals who have been pushing for the government to issue a digital currency so they can track and control our every action.
It is the liberals who want to control citizens by keeping them in the dark and drip feeding them free stuff. You only have to look at the black community who used to vote in a block but are finally cottoning on to the scam.
Taxes in USA are lower than any other developed nation. You can’t compare USA taxes to Switzerland which is a tax haven for the uber rich.
That Russia hoax was pushed out by social media controlled by the left and debunked a long time ago. Zuckerberg just admitted the Biden Harris admin was forcing them to censor certain views. The left wants total control but they ain’t going to get it. Not in America.
analog_subdivisions@reddit
“…House Committee on Oversight and Accountability Chairman James Comer (R-Ky.) today released a video and bank records memorandum revealing how Joe Biden received $40,000 in laundered China money from the account of his brother, James Biden, and his sister-in-law, Sara Biden, in the form of a personal check…” (House Oversight Committee, 11/1/23)
atchijov@reddit
Smart. If unthinkable happened and orange felon wins… most of us will need to rethink life choices.
Massive-Attempt-1911@reddit
How is it unthinkable when the odds are pretty much even? You’re living in a fantasy.
atchijov@reddit
Media makes you think that ods are even… they can not sell story about “forgone conclusion”. Trump lost in 2020 and he have done nothing to improve his chances (actually he have done a lot to ensure that he loose much much more convincingly)
Massive-Attempt-1911@reddit
Elections are generally a referendum on the incumbent. As much as Harris is trying to convince the dullards that Trump has been the president for the past 4 years Americans know better. So they will undoubtedly and correctly hold Harris responsible for the poor performance of the Biden Harris admin. Results matter more to Americans than fancy footwork and memorized lines in a debate. The Biden Harris admin is directly responsible for the high inflation which is not going down, just going up slower, a weakening economy that is headed into a recession causing the Fed to reduce rates, a dysfunctional border allowing thousands of Americans to be killed by fentanyl, thousands of jobs lost to illegals, and our healthcare and social welfare systems smothered. Finally our police and ICE have been defunded or “reimagined”. This is far from a forgone conclusion. The last thing we need is someone who believes in equal outcomes instead of equal opportunities. That is just too close to communism for comfort.
analog_subdivisions@reddit
"...If unthinkable happened and orange felon wins… most of us will need to rethink life choices..."
...you mean if the "slept her way to top vapid idiot chick" wins, the government will continue its reckless overspending in the name of "equity" that will spike inflation and keep interest rates high making homeownership and entrepreneurship impossible...
stevie_nickle@reddit
6.1% is historically a normal mortgage rate. But would expect a MAGA to be literate in anything financial… or anything else for that matter.
picklepuss13@reddit
No this subreddit is kind of an echo chamber. Most ppl don’t want this. There is an uptick lately due to general housing costs but I think most would want to stay, it’s just their money can now stretch further elsewhere. I personally also don’t want to retire overseas, I got most of that out of my system in my 20s and 30s.
Affectionate_Age752@reddit
Speak for yourself. We can't wait to get out of here. Leaving in October.
South-Beautiful-5135@reddit
Who wants to live in Arizona?
Technical-Put-5122@reddit
I was born in west Africa and emigrated to the USA 22 years ago. I retired in January at 62 and moved back to Nigeria in July because the cost of living is so much lower - a fraction of what it is in Oklahoma where I lived for 12 years before retiring
New-Possibility6666@reddit (OP)
Earned in US dollars and finally spending way less what you used to while you were in states , it's good in many ways
FolayMingYoung@reddit
This is true for me. I work remotely and live overseas. I don’t plan on retiring in the us. The cost of healthcare is absurd high especially once you reach your 60s and 70s. It’s so much cheaper to live overseas and buy an international healthcare plan and call it a day.
HVP2019@reddit
I am an immigrant(from Europe) who stayed in US for retirement.
I don’t see a point to move for less capitalistic culture for retirement, if I can have less capitalistic life in US if this is what I want, together with serenity and comforts of living in a country/people that over the years became dear to me.
The last thing I want in my retirement is stress of another relocation, assimilation and moving away from my children and friends. (There are not many countries that are as friendly towards immigrants as US)
Karma4U-1928@reddit
That’s sounds really wonderful, you’re right America was “Give me yr tired, your poor your huddled masses, yearning to breathe free” Unfortunately, this is no longer the sentiment for many especially if you’re black or brown!
HVP2019@reddit
Any person, regardless of their income or race weights their opinions when contemplating migration.
So if racial minorities can expect improvements by moving to another country, they should do so.
The tricky part is to find such country
Karma4U-1928@reddit
Racial minorities should do so? Easier said than done! Ask the Haitians that live in Springfield Ohio!
Bitter_Initiative_77@reddit
Commenter didn't say it was easy. Don't pick fights because of your lack of reading comprehension
Karma4U-1928@reddit
“Reading Comprehension”? Have you read & understand reddits community rules? No need to be rude
Bitter_Initiative_77@reddit
I made an observation based on the facts at hand. You were antagonistic from the get go. We are not the same.
Karma4U-1928@reddit
Ok, you got it Karen, have a wonderful night! 😂
HVP2019@reddit
Where did I say it was easy? Matter of fact I stated the exact opposite.
Massive-Attempt-1911@reddit
Well said. There are many ignorant people who claim the USA is terribly racist yet they have never set foot in another country to form a comparison other than for a brief vacation. They live in blissful ignorance and spout their nonsense. If only they would leave and allow us to enjoy life without the constant whining.
Karma4U-1928@reddit
My opinion, was that it’s not easy! I didn’t imply that the commenter was saying it was easy! No drama here, we are all here voicing our experiences & opinions. Just Chill!!!
1Angel17@reddit
I’m US, husband is EU, we live in EU and are trying to build wealth through real estate in the US. It’s so much easier than vice versa. I hope to move back to the US but for now, with everything going on we will stay here.
reddit33764@reddit
Wife and I are Brazilian-Americans (first half of our lives in Brazil, second half in the US). We just moved (temporarily) to Spain last March thanks to our rental income from the US. It really is way easier that way. We truly believe we wouldn't be able to enjoy Spain if we had to earn money here. First, because we'd have to work instead of just spending time with the kids and getting to know the culture. Second, because local wages are really low and , most likely, would not let us afford the lifestyle we have. We don't have higher education, yet we were still able to achieve the NW needed to allow us to do this.
Massive-Attempt-1911@reddit
Well done. That is the American dream. You don’t have to stay in the US to be living the dream.
New-Perspective8617@reddit
What’s your strategy for building wealth through real estate in the US?
1Angel17@reddit
What do you mean? We buy investment properties in the US, fix them up, get them rented and repeat. We have a great PM in the area we invest in and my old house (from before I moved OS and met my husband) is also now a rental.
Iwentforalongwalk@reddit
No. People are falling prey to the propaganda that the US has a bad job market. It's always been tough and we've always had to scramble and work hard. In my state unemployment is like two percent. If you want a job you can find one. Get a desired skill and you'll do fine. A family member graduated from esthetician school three years ago and makes almost 80,000 per year at age 25. With one year of schooling. Get a skill people.
New-Possibility6666@reddit (OP)
Hey I am preparing for masters in engineering management because I am in product management, how is the market for that there, I m targeting duke , Purdue , UIUC , ncsu and Dartmouth
South-Beautiful-5135@reddit
Be prepared for decades of debt.
New-Possibility6666@reddit (OP)
Why if I am paying 50% on my own , I would be taking only 50% education loan
South-Beautiful-5135@reddit
Yes, did you check out the prices for Purdue or Duke?
New-Possibility6666@reddit (OP)
Yep I did , it will be around 70-75 lakhs , it's less for purdue which is around 35-40 because it's public university but for rest other it's in the above mentioned range
ArbaAndDakarba@reddit
Purdue is a good school, just generally speaking.
South-Beautiful-5135@reddit
Lakhs? 1 Lakh is $100k, right?
New-Possibility6666@reddit (OP)
No no man , 1 lakh is around $1300 dollars 😅
South-Beautiful-5135@reddit
People are lazy, though. They want to be influencers for a reason.
South-Beautiful-5135@reddit
And how do you assume to just retire in Europe? You will need a visa.
New-Possibility6666@reddit (OP)
Do you really think that getting a visa is more difficult as compared to USA
Even the green card wait time is 80-100 years on an average
South-Beautiful-5135@reddit
At least as difficult. Even more so if you just want to live but not work there.
reddit33764@reddit
It's not that difficult. I lived in the US for 23 years and got my NLV visa approved to live in Spain (based on passive income from investments; it doesn't allow us to work at all, inside Spain or remotely) with my family within 14 days. We moved here last March.
It should be a 1.5 to 2 years period so we travel through Europe and our kids become fluent in Spanish, then we go back. We'll go back because we want to. We can stay here indefinitely and become citizens if we want. If OP is able to achieve a certain NW, it's very doable.
CiderDrinker2@reddit
"New York, New York!
If I can make it there...
I can retire to Portugal!"
South-Beautiful-5135@reddit
Take my upvote
jazzyjeffla@reddit
Out of curiosity, is the job market in India that different than Europe and America? The reason I ask is because of a lot of tech companies in America aren’t hiring as much as they used to and on different subreddits I read tech companies are continuously firing and advertising “fake” jobs to make it look like the company is profitable. With that, a lot of companies have become remote and are now outsourcing a ton of their employees from lower-wage but high skilled countries like in India, Philippines, Nigeria etc.
Sadly if you don’t have a green card I understood that now it would be very difficult to get hired on a H-1B visa. Or past graduate visa. But you never know it could turn around in two years. I sure hope so for my own sake as well.
If I were you I would fight to get into a US or European company that’s outsourcing in India. I truly think you’ll find work, get paid for it, and be able to save up and live in a lower wage country if you want in the future.
South-Beautiful-5135@reddit
In most European countries it is extremely difficult to save a lot of money, though.
New-Possibility6666@reddit (OP)
See the thing with India is that , VCs are injecting lot of money into Indian startup ecosystem, because India is a growing economy so everyone wants to be the part of that but I am pretty sure it's nowhere close to san francisco and California's culture of tech , so yep there are the jobs and I am observing that there is a increasing in hiring since 2-3 months but yep the layoffs are also there and so the fake job postings , Indian comprises of 60% of world's tech and it's going to be larger and larger in upcoming years due to cheap labour availability but there are lots of cons which certainly outstrip the pros
jazzyjeffla@reddit
I see well I would still want to stay in Indian if that’s what people are expecting. I’d want to capitalize on that tech boom rather than being in when it’s too late. As for San Fran/silicon Valley I watched a documentary talking about the collapse of the area because of the pandemic and people refusing to go back to offices. It used to be a trend to move over the San Fran and work with start ups. Now they’ve all gone remote and people are no longer in the city. Ask you mentioned above living in low COL countries. It’s all a trend.
Of course that document could have generalized the whole decline of San Fran but it’s a very well known case. Commercial buildings are closing, companies refuse to move back, workers don’t want to commute any more. The COL is so high and devs refused to lower the cost. It’s a shit storm.
You should definitely do a lot of research on moving to San Fran/ the US as a whole before doing it. Maybe write a nice detailed resume and send it off to companies to test the waters before jumping into something. Grad school you’ll definitely get into but finding work as a fresh grad I don’t know. Anyways good luck sorry I couldn’t give you more information on your original question.
New-Possibility6666@reddit (OP)
Thanks a lot , that's why I am also trying to have a backup, money is important but not at the cost of everything,
jh635csi@reddit
That is our dream and we are doing it. I have worked for decades, saved up a little and bought a piece of property in Belize. We are meeting with our builder in November and moving in January. The cost of living in the US has gotten out of control, so we are moving to our happy place.
South-Beautiful-5135@reddit
Well, highly depends where you live. If you move to Idaho or something, life is cheap. But people want their cake and eat it, too.
New-Possibility6666@reddit (OP)
Best of luck for the journey ahead
satedrabbit@reddit
With a rapidly aging population, I wouldn't be surprised, to see retirement visas in the developed world going the way of the dodo, due to an already overburdened elder care system.
South-Beautiful-5135@reddit
It’s already happening.
No-Tip3654@reddit
That's the new american dream, yes. At least for a lot or Europeans
Electronic_Ad5481@reddit
Yah, I keep trying to convince my parents to take their sell their house, take their retirement savings and social security, and buy a place in the Caribbean or Mexico or Panama or Columbia. Their social security amounts to nothing here: it’d be everything in the right country.
Banjoschmanjo@reddit
No, it's to make money -from- there while working remotely from somewhere else.
Pale_Field4584@reddit
It just depends what you like to be honest.
There's a myriad of Americans that love to retire in the US and rent an RV for example and go cruising around the US visiting national parks.
For some reason this seems to be more popular with White people than other races. Most Latinos I know would like to retire back in Mexico and just chill in a beach.
Tall-Ad895@reddit
I’m a broke American and I would leave 55 years ago if I could.
Ajeel_OnReddit@reddit
For me it's the opposite. I grew up in the US. I would only go back if I was 'well off', no reason to live there if you're struggling. There is no "dream" it had and always was a nightmare. Credit centric, poverty stricken nightmare.
New-Possibility6666@reddit (OP)
Where are you in Europe BTW
GTFOHY@reddit
Best dream ever
freebiscuit2002@reddit
You may call it “the new American dream”, but what you describe is only one possible plan for a life.
New-Possibility6666@reddit (OP)
Agreed because i think its something that people are preferring nowadays to have a better quality of life and God after earning Money and retiring in lil less expensive countries which is not as capitalistic as USA
karmafrog1@reddit
I wouldn't call it a dream, but ever since I left the U.S. for Asia my retirement prospects have looked better and better. Had I stayed I would have had a lot of trouble figuring out how I was going to afford it. It wasn't an intention or a dream, but I'm not tempted to go back.
iyimuhendis@reddit
You need to arrange a system of receiving passive or active income from US while living abroad
Savings will erode
Its my opinion
New-Possibility6666@reddit (OP)
Yep , it's a great idea , i can build some good product if not great and monetize my audience after getting them on board
mintchan@reddit
It was not the dream. Most people did it because it happened to be the best course of action now.
In the future, I don’t know
New-Possibility6666@reddit (OP)
Yep , I am currently 23