1064-Should I Relocate From Brazil to USA for More Opportunity?
Radical Personal Finance
Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP
4.4 • 1.9K Ratings
🗓️ 28 October 2024
⏱️ 47 minutes
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Summary
A Brazilian listener is wrestling with the idea of moving to the USA for more opportunities for his son. Let's see if we can find some solutions to his problem!
Transcript
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| 0:00.0 | Welcome to Radical Personal Finance. Today on the podcast, listener question from Brazil. Renato writes in and says, hi Joshua, I hope you and your family are doing well. |
| 0:08.0 | Well, I'm doing better. Now, last week I was knocked down in bed for a day and had a cough that as best I could determine from careful diagnosis began in my left pinky toe and continued up and out my mouth and that pretty well knocked |
| 0:25.9 | me out, especially from recording podcast. |
| 0:28.9 | So I'm doing better now and happy to be back on the microphone. |
| 0:31.6 | Thank you. I have a question that I would like your |
| 0:33.5 | thoughts on. I know you're currently living outside the United States and have considered |
| 0:36.8 | moving back to provide better opportunities for your children. For context, I am from Brazil. My income places me in the top 2% of earners here. |
| 0:46.0 | However, Brazil and the world are facing challenging times. |
| 0:51.0 | While my wealth in Hei-, which is the Brazilian pronunciation for the Brazilian |
| 0:57.2 | Rial, while my wealth in heiise has remained stable or even increased, I've become at least 35% poorer in dollars due to rapid |
| 1:06.8 | currency devaluation. |
| 1:08.8 | I enjoy a good life in Brazil, living in a gated community in a safe town near Sao Paulo, predominantly populated by Italian descendants. |
| 1:18.0 | My child attends a great Waldorf school run by parents, |
| 1:21.0 | and I have a close relationship with his teacher. |
| 1:24.0 | However, I feel compelled to consider moving to the United States to give my son a better chance |
| 1:28.3 | at success. |
| 1:30.3 | Better chance at success. The low income in Brazil and the high cost of living for a middle class lifestyle are major concerns. |
| 1:38.0 | Despite my top 1% income, being in the top 10 percent in Brazil is not impressive. |
| 1:44.8 | For example, earning 6,000 hay eyes, about $1,050, places you in the top 10 percent. My wife, a university teacher at top schools, earns about 10,000 |
| 1:57.0 | hay-eyes, $1,750 U.S. dollars. While my associate's wife, a senior PR professional, earns about 12,000 Hayeis, 2,100 US dollars. |
| 2:09.5 | They are both in the top 5% of Brazilian incomes but earn less than a teenager flipping burgers in |
| 2:15.8 | Florida. Additionally, most goods and services are more expensive in Brazil than |
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