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Liquidating to monger abroad

Nutopia1

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Messages: 1,510
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Regardless of where you end up overseas, I suggest you keep a home base somewhere here in the States near a major airport (such as a safe deposit box and/or a safe in a small storage locker on an auto-pay plan or a cheap studio apartment in an inexpensive location). Use that location to store records, passwords, a few sets of clothes for every season and directions for accessing your accounts and funds in an emergency.. Have copies of your will, POA, insurance docs, etc. there, too.

Then you're not carrying all of your sensitive documents around with you, and they will not be accessible by nefarious characters abroad. If you get occasionally homesick, you can travel light and have all your personal care items waiting for you. Think of it as an an economy version of how the wealthy folks maintain multiple houses around the globe.

Happy Mongering!
Shouldn't you let a trusted person in the USA know the location and or give them a key just in case ?
And if you die suddenly overseas since you can't call that person then what ?
 

BIGBOB62

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One of the considerations doing this is whether to remain a US citizen or not. If you are still a US citizen, you still pay taxes, even if you live abroad and have no money in the USA. If you’re a foreign citizen but you want to keep money in the USA you need to move the account to one of the states where it isn’t taxed. I know Nevada and South Dakota are 2, I think there’s a few more.
 

Nutopia1

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Messages: 1,510
Reviews: 10
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One of the considerations doing this is whether to remain a US citizen or not. If you are still a US citizen, you still pay taxes, even if you live abroad and have no money in the USA. If you’re a foreign citizen but you want to keep money in the USA you need to move the account to one of the states where it isn’t taxed. I know Nevada and South Dakota are 2, I think there’s a few more.
Only the income is taxed. So if it's 500k for example it may be 10k income or about 2-3k tax bill . Not the worst thing ..
 

BIGBOB62

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Only the income is taxed. So if it's 500k for example it may be 10k income or about 2-3k tax bill . Not the worst thing ..
Yes, I mentioned it because Ive talked to expats in Thailand who moved there completely unaware that they would have to pay Thai taxes and US ones. And the US ones were killing them. Their words not mine. I’m not planning on dropping citizenship even though it’s expensive. Btw if you have 500k and you can only make 10k off it you need a better money manager.
 

Nutopia1

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Yes, I mentioned it because Ive talked to expats in Thailand who moved there completely unaware that they would have to pay Thai taxes and US ones. And the US ones were killing them. Their words not mine. I’m not planning on dropping citizenship even though it’s expensive. Btw if you have 500k and you can only make 10k off it you need a better money manager.
The average money manager over the past 12 months would have made you NEGATIVE 50k !
 

AC130JDriver

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Messages: 40
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I liked Malaysia, but not as a mongering country. It's not as bad as the ME, but the Muslim majority is constricting. Other countries in that area are better mongering destinations IMO. But it's beautiful there and the food is great.
I guess it depends on where and how you conduct business in Malaysia. I have had some good experiences. I prefer agencies-albeit more expensive I did have some good experiences in KL. I would absolutely consider Malaysia for several different reasons. As far as getting out to hobby I would just jump on Malaysian Air to Thailand or the Philippines. Last time I checked flights were no more that $200 round trip to either country from KL. Definitely something for me to consider if I get picked up by Emirates first move would be to purchase a small condo or apartment. Still quite a few years from being reticent eligible, a lot can change between now and then.
 

Nutopia1

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Not mine, and it's a moot point because you won't be retiring abroad if you lose 50k every year. It'll be time to put on that Walmart vest.
A quick look at Bloomberg shows that of 25,000 money managers 97% have negative returns over trailing 12.
Those that are positive tend to be concentrated narrowly focused strategies. Hardly the comfort I'd want if living overseas. In any event a discussion for another thread .
 

luvjackshack

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One of the considerations doing this is whether to remain a US citizen or not. If you are still a US citizen, you still pay taxes, even if you live abroad and have no money in the USA. If you’re a foreign citizen but you want to keep money in the USA you need to move the account to one of the states where it isn’t taxed. I know Nevada and South Dakota are 2, I think there’s a few more.
I
You have to pay money to give up your USA citizenship LMFAO money coming and going
 

Funrise

Review Contributor
Messages: 254
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A quick look at Bloomberg shows that of 25,000 money managers 97% have negative returns over trailing 12.
Those that are positive tend to be concentrated narrowly focused strategies. Hardly the comfort I'd want if living overseas. In any event a discussion for another thread .
Study, learn and when you’re ready, do it yourself. A narrowly focused strategy is key. You can’t learn it all, but you can learn a strategy that works.
Pick an online platform that has live practice trading and tons of tutorials on stock options. Cash secured puts and covered calls can make good consistent income.
 

Nutopia1

Registered Member
Messages: 1,510
Reviews: 10
Joined
Study, learn and when you’re ready, do it yourself. A narrowly focused strategy is key. You can’t learn it all, but you can learn a strategy that works.
Pick an online platform that has live practice trading and tons of tutorials on stock options. Cash secured puts and covered calls can make good consistent income.
You may want to take a few classes yourself on the concept of embedded risk and risk adjusted returns .
 

UmbertoBillo

Registered Member
Messages: 23
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I may move to SE Asia, but mongering wont be a big part of it. Age gap relationships are more accepted. Keep in mind that in a poor country, part of your popularity is that you can help make some lives better. You will be more attractive than you are in the US.
Hence you may not feel the need to monger as often.

It’s good to select an area that is safe for expats.
I would not make a monger area home base. If you live in an area known for mongers, you’ll live side by side with scammers and other criminals.
Wherever you go, be polite, don't be flashy, don’t criticize their country and stay out of their politics and religion.
I'm a 55 y.o. Australian, average height weight looks. I'm thinking of cashing in my chips and mongering, at least for a year or two. After that I might want serial monogamy - a light "relationship" or FWB without the P4P. I just can't see myself getting married again (widowed from a good happy marriage) or settling with one woman for too long. I get that she'll be with me for my money, but more like a gold digger scenario than a prostitute. It would be nice if she at least pretended to like me and didn't run for the door once I've popped :cool::eek::ROFLMAO:

In that serial monogamy phase I would like the older man younger woman "relationship". I've traveled all throughout SEA, but am currently thinking of Costa Rica, Colombia, or Panama. I will visit all three in Sep-Nov '22. I'm thinking I would be happiest in Panama, but that the mongering would be best in CR or Colombia. Man, I love Colombian women!

I think I could manage $4K USD/month but won't know until the chips are cashed and the taxes paid. In case my prospective budget impacts your advice re: which country?

If any of you have visited these three countries, any comment on the acceptance of the old average man young smokin' hot woman scenario? I'll need to learn Spanish which I'm prepared to do, but at least I'd have all of Central and South America (sans Brazil) covered re: language.

Thanks for any advice/input.
 

이 회장님

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Mongering in Korea is expensive. A 20-minute session at a RLD (with a worker in her 20s) is 80,000 won (around 60 USD), an amp visit (one hour massage from a blind lady and one hour table shower and sex with two pops is 250,000 won (around 190 USD), etc. These are the local prices that Koreans pay. Non-Koreans pay double unless a fellow Korean accompanies them.

SA relationships are even more expensive especially in Seoul. If you want a young (under 25), cute and sexy SB then expect to pay at least 10K USD a month. Many Korean SDs pay more.

I have a studio in southern Seoul and one SD is paying me around 3K USD a month in rent to have his SB stay there.

So I recommend finding a girl who wants and needs to learn English but cannot afford private tutoring or classes. If you can teach her the GRE or GMAT, even better because many of them want to attend grad school in America.
 

이 회장님

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@ UmbertoBillo

I recommend learning basic Spanish before you travel to these countries. I took a beginning-level Spanish class and it has helped me with Spanish clients and scoring with sexy hot Latinas. (y)

Spanish is very similar to English so it was fun and easy for me.
 
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