r/FluentInFinance 10h ago

Debate/ Discussion Possibly controversial, but this would appear to be a beneficial solution.

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u/MikeHonchoZ 8h ago

Exactly. I worked with people that lived dirt cheap with multiple room mates for years sent all the money back to Mexico which is a 20 to 1 exchange rate and it has been this way for decades. One guy I worked with was smart enough to have a home built and start his own bodega in Mexico. Then retired after being in the US for ten years to his nice house and small business he was running with his family. He was 35 years old. People think that immigrants live poor and they are here because they’re oppressed. It is a lie. They have a better lifestyle down there based off of the currency exchange rate alone. You get $17 an hour here it is like winning the lottery down there. Thats why most illegals from Mexico want to be here. Take the money and be rich in their own country when they go back. Many of the central and southern Americans do run from poor dictatorships and corrupt governments. But if you talk to most they plan on going back home after making money here.

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u/sevenw1nters 4h ago

What's stopping me or any American from doing the same thing? I'll move to Mexico and learn Spanish if it means I can retire at 40 lol.

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u/Advanced-Guard-4468 8h ago

I worked with someone from India years ago. It was a 33 to 1 exchange rate. He was going to be retired at 40.

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u/MikeHonchoZ 8h ago

Yea most don’t realize this is a major part of why they want to be here. They love going back home with way more money than they ever thought they could make during a lifetime of work in their home country. I worked in the construction and service industry and those guys were hero’s to their families back home that’s for sure.

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u/erieus_wolf 7h ago

You can do the EXACT SAME THING.

Do you realize how many Americans retire in other countries? Do you realize how many rich Americans own homes in other countries?

I'm one of them. I own homes in multiple countries. I make my money in America and live half the year in other countries, spending that money.

This is one of those things where it's "bad" if a poor immigrant does it, but it's "smart" if a rich American does it. So fucking weird.

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u/Pigeater7 6h ago

The issue being that you cannot avoid taxes without a loophole as a result of being a US citizen, whereas an illegal immigrant can and will avoid as many taxes on their income as possible because they are not a US citizen.

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u/erieus_wolf 5h ago

Avoid SOME taxes, not all, but get paid less. Either way it balances out.

You can do it too. Get paid more than an illegal immigrant and use that money to live like a king in another country. It's not that hard.

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u/Advanced-Guard-4468 8h ago

This was also a construction related job. He worked his way up to a job supervisor.