5 ms·

How would you actually go about doing that? Like if the US economy implodes because enough of this malarkey breaks it, what/where is safe? In terms of your pers

by davidw 2y ago

How would you actually go about doing that? Like if the US economy implodes because enough of this malarkey breaks it, what/where is safe? In terms of your personal wealth/residence, I mean. The only thing I can kind of think of is maybe some land or housing in Europe or New Zealand or somewhere kind of out of the way; perhaps something that you can rent out. Might not make you a ton of money, but it would hopefully hold its value over time?

throwaway48476 2y ago
Bullets have been a good investment.
toomuchtodo 2y ago
We own a modest flat in Spain. I’ve moved a year’s worth of living expenses to EUR. I can have my family out of the country in 72 hours. Total cost was under $300k USD. The best time to have a plan is before you need it. If you wait until you need it, you’re too late. (n=1, ymmv)
- a2tech 2y ago
  Who did you use to make the international purchase? I have a friend that used the lady from house hunters international but she’s French focused and that’s not for us
  - toomuchtodo 2y ago
    I traveled to Spain and made the purchase in person. Drop a disposable email in your profile, I’ll reach out and provide whatever value I can.
    - a2tech 2y ago
      That'd be great! Just shoot a message to spain-info@maildrop.cc
- strken 2y ago
  How much does this cost you on an ongoing basis, if you don't mind me asking?
  - toomuchtodo 2y ago
    <€4k/pa. That’s everything including utilities. No mortgage.
    - zzleeper 2y ago
      Any advice? Figured maintenance would be annoying (utilities, making sure things that break down get fixed, etc). Also, did you go for a big bank (Santander BBVA etc) or smaller one? Gracias!
      - toomuchtodo 2y ago
        Figure out your residency (digital nomad, non lucrative visa from passive income, etc). Find where you want to live. Find a property within that area. Use word of mouth, find someone locals trust, have them help you with maintenance and pay them for that help. I use both Wise and Santander. Idealista is, by far, the biggest real estate website in Spain. Use this to start your search. Some properties are going to be held by local agencies, and you're going to have to talk to folks on the ground to see those listings (wildly different market than Zillow and Redfin in the states). There is an annual wealth tax on globally held assets >€2M, if this potentially applies to you, seek assistance from a Spanish tax advisor. I strongly advise not buying over the Internet and buying in person to avoid scams and fraud. Use a legal advisor to facilitate your purchase as you would with an attorney in the states. https://old.reddit.com/r/GoingToSpain/ https://old.reddit.com/r/GoingToSpain/ helped me, I hope it helps you. Safe travels, wishing you the best.
- davidw 2y ago
  > I can have my family out of the country in 72 hours. I was thinking out loud about this on a reddit thread, kind of going through my idea of different scenarios. "Maslow's hierarchy of GTFO". As in... if you're in 1930ies Germany, you get out with whatever you can take, but you get out ASAP. If you're in, say, Hungary... you don't really need to rush your exit. You might find the politics unpleasant, but you can leave whenever and take the time to take your stuff with you.
  - toomuchtodo 2y ago
    I work in risk management. If I overestimate this risk, the cost is very low. If I underestimate the risk and am suddenly exposed to it unexpectedly, the cost is exceptionally high. This leads me to action accordingly.
    - Entuaka 2y ago
      What would be your trigger to GTFO? If you wait too long, that's also a risk, if too many other people want to leave at the same time.
      - toomuchtodo 2y ago
        The federal government, or someone empowered with their authority and sanctioned, begins to use lethal force extrajudicially.
  - Maro 2y ago
    I've left Hungary ~10 years ago, partially because of the politics. Hungary is essentially a failed state, people just don't know yet. Like ~100 years ago, poor hungarian leadership managed to position itself on the wrong side of history, and once the phase transition comes and passes, and the better part of the world gets back on track towards more liberalism and democracy, like it always does, nobody will be doing Hungary any favors.. same as after WW2.
    - davidw 2y ago
- deleted 2y ago
  [deleted]

by davidw 2y ago

throwaway48476 2y ago

Bullets have been a good investment.

toomuchtodo 2y ago

We own a modest flat in Spain. I’ve moved a year’s worth of living expenses to EUR. I can have my family out of the country in 72 hours. Total cost was under $300k USD. The best time to have a plan is before you need it. If you wait until you need it, you’re too late. (n=1, ymmv)

a2tech 2y ago
Who did you use to make the international purchase? I have a friend that used the lady from house hunters international but she’s French focused and that’s not for us
- toomuchtodo 2y ago
  I traveled to Spain and made the purchase in person. Drop a disposable email in your profile, I’ll reach out and provide whatever value I can.
  - a2tech 2y ago
    That'd be great! Just shoot a message to spain-info@maildrop.cc
strken 2y ago
How much does this cost you on an ongoing basis, if you don't mind me asking?
- toomuchtodo 2y ago
  <€4k/pa. That’s everything including utilities. No mortgage.
  - zzleeper 2y ago
    Any advice? Figured maintenance would be annoying (utilities, making sure things that break down get fixed, etc). Also, did you go for a big bank (Santander BBVA etc) or smaller one? Gracias!
    - toomuchtodo 2y ago
      Figure out your residency (digital nomad, non lucrative visa from passive income, etc). Find where you want to live. Find a property within that area. Use word of mouth, find someone locals trust, have them help you with maintenance and pay them for that help. I use both Wise and Santander. Idealista is, by far, the biggest real estate website in Spain. Use this to start your search. Some properties are going to be held by local agencies, and you're going to have to talk to folks on the ground to see those listings (wildly different market than Zillow and Redfin in the states). There is an annual wealth tax on globally held assets >€2M, if this potentially applies to you, seek assistance from a Spanish tax advisor. I strongly advise not buying over the Internet and buying in person to avoid scams and fraud. Use a legal advisor to facilitate your purchase as you would with an attorney in the states. https://old.reddit.com/r/GoingToSpain/ https://old.reddit.com/r/GoingToSpain/ helped me, I hope it helps you. Safe travels, wishing you the best.
davidw 2y ago
> I can have my family out of the country in 72 hours. I was thinking out loud about this on a reddit thread, kind of going through my idea of different scenarios. "Maslow's hierarchy of GTFO". As in... if you're in 1930ies Germany, you get out with whatever you can take, but you get out ASAP. If you're in, say, Hungary... you don't really need to rush your exit. You might find the politics unpleasant, but you can leave whenever and take the time to take your stuff with you.
- toomuchtodo 2y ago
  I work in risk management. If I overestimate this risk, the cost is very low. If I underestimate the risk and am suddenly exposed to it unexpectedly, the cost is exceptionally high. This leads me to action accordingly.
  - Entuaka 2y ago
    What would be your trigger to GTFO? If you wait too long, that's also a risk, if too many other people want to leave at the same time.
    - toomuchtodo 2y ago
      The federal government, or someone empowered with their authority and sanctioned, begins to use lethal force extrajudicially.
- Maro 2y ago
  I've left Hungary ~10 years ago, partially because of the politics. Hungary is essentially a failed state, people just don't know yet. Like ~100 years ago, poor hungarian leadership managed to position itself on the wrong side of history, and once the phase transition comes and passes, and the better part of the world gets back on track towards more liberalism and democracy, like it always does, nobody will be doing Hungary any favors.. same as after WW2.
  - davidw 2y ago
deleted 2y ago
[deleted]