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Old 08-31-2011, 08:52 PM   #41
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True, but during the first six or seven years I kept saying "just one more year .... " so there was never a feeling of permanance and even after nearly 20 years, that's less than half the time I hope my retirement will last.
I know exactly the feeling and hope your choice works well for you.
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Old 08-31-2011, 08:54 PM   #42
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Most of my/our assets are in HKD - which is pegged to the USD. The great fear/expectation is that at some stage the peg will either be removed or adjusted and the HKD. If that happened today,the HKD would most likely appreciate quite a bit as a result meaning I would take a hit on my non-HKD investments (and the HKD value of my local investments would probably also decline as well). I would probably end up paying higher interest rates on my mortgages as well (all floating rate).

People have been speculating on the demise of the HKD/USD peg since it was first introduced so this is a long standing issue.
The currency peg makes it a bit easier, although inflation must be pretty high. Everything I have read says real estate is very pricey in Hong Kong.
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Old 09-01-2011, 11:50 AM   #43
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FBAR is easy to do yourself.

Re the tax issue, we will continue to employ a US based accountant to do our taxes here. Main reason for doing so is the IRS appears to be the most unreasonable tax authority in the world so one does not want to get on their wrong side.

We will probably align ourselves to be taxable in Australia. The Australian Tax Office is probably one of the best tax authorities in the world to deal with. When you call them you can actually get an answer that is likely to be correct and if you do stuff up they are not going to hound you until you kill yourself unlike the IRS.

However, we have gone down the route of simplifying our holdings as much as possible. Outside the US we are cash only with the exception of pension holdings. As soon as our 401ks are withdrawable without penalty we will take them and convert to cash in Australia.

We are actually even thinking about giving back our Green Card and cutting all ties to the US to simplify our tax life as we do not see a future here for us.
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Old 09-02-2011, 01:05 PM   #44
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Lots of good info out there. I'd start with the Kaderli's web site and ebook (at Retire Early Lifestyle. Then there are web boards for specific areas: check out the forums at chapala.com and if interested in San Miguel do a search for "Falling in Love with San Miguel" where there's a great forum (and an eponymous book well worth reading).
In addition, there is also Mexico Expat Forum for Expats Living in Mexico - Expat Forum For Expats, For Moving Overseas And For Jobs Abroad
and for PV there are four local boards, with VallartaScene being the most popular.
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Old 09-02-2011, 01:22 PM   #45
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We are actually even thinking about giving back our Green Card and cutting all ties to the US to simplify our tax life as we do not see a future here for us.
Make sure you look into this FIRST!

Expatriation After June 16, 2008

If you expatriated after June 16, 2008, the expatriation rules apply to you if you meet any of the following conditions.

Your average annual net income tax for the 5 years ending before the date of expatriation or termination of residency is more than:

$139,000 if you expatriated or terminated residency in 2008.

$145,000 if you expatriated or terminated residency in 2009 or 2010.

Your net worth is $2 million or more on the date of your expatriation or termination of residency.

You fail to certify on Form 8854 that you have complied with all U.S. federal tax obligations for the 5 years preceding the date of your expatriation or termination of residency.
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Old 09-02-2011, 01:44 PM   #46
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I imagine the inflation rate for dollar based services, like rent, must be pretty high.
I have a 4 bedroom 3 1/2 bath 140 sqm apartment in a brand new building 3 blocks from the Pacific Ocean in the highest rent district in Peru.

Last year when the building was first constructed the apt was priced at $140,000.00 USD., we offered/she accepted $650.00/mth (paid $7800 in cash).

Last month we signed a new lease and the rent increased 10% to $720.00, however the apt is valued at $180,000.00 and we pay our rent monthly instead of in advance.

Many central banks in SA are trying to manage the strength in their currencies by using reserves to buy Dollars and lowering or halting increases in interest rates as the influx of investors/ currency speculators is becoming a problem. Inflation at 7% is more a problem in Brazil as here as well as Chile and Colombia we are in the sweet spot of 3.5% and growth in GDP this year between 6.5-7.5%.
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