The Economy: Living here vs there

[PeterFB 0]

If I could find a moblie income, ie a real online business that could be run from US or Vietnam which makes a income compable to the real job in the US that I have, Thi and I would spend time in both Vietnam and US. We want to have enough of income so we could keep my house here and stay for extended periods in Vietnam with her family. The reason for wanting to live over there is more based on her family than on how much it costs here or in Vietnam. We both miss her family even tho she chats with them every night. My Vietnamese is still too limited to chat with them since we're spending most of our "language" time on English. I enjoy listening and find myself hearing and understanding more when they chat.

I have no desire to "permanently leave" the US and neither does Thi. Living here regardless of the price of gas, etc is still better than any other place I know of. Also there's another potential problem about moving to Vietnam to live, Here's what the USCIS has to say about this:

"You may be found to have abandoned your permanent resident status if you:

* Move to another country intending to live there permanently.

* Remain outside of the US for more than one year without obtaining a reentry permit or returning resident visa. However in determining whether your status has been abandoned any length of absence from the US may be considered, even if it is less than one year.

* Remain outside of the US for more than two years after issuance of a reentry permit without obtaining a returning resident visa. However in determining whether your status has been abandoned any length of absence from the US may be considered, even if it is less than one year.

* Fail to file income tax returns while living outside of the US for any period.

* Declare yourself a “nonimmigrant” on your tax returns."

Peter and Thi

I-129F Sent : 2007-05-26

I-129F NOA1 : 2007-06-11

I-129F RFE(s) :

RFE Reply(s) :

I-129F NOA2 : 2007-10-26

Touched: 2007-11-02

NVC Recieved: 2007-11-16

Consulate recieved ??????

Packet 3 sent 2007-12-11

Packet 3 received 2007-12-24

Packet 3 returned 2007-12-28

Packet 4 sent 2008-1-14

Email Reply with Interview Date 2008-1-23

Interview Date 2008-2-27

Passed Interview 2008-02-27

Visa Pick Up Date 2008-3-05

Received Visa 2008-2-29 (called to pick up earlier)

POE 2008-3-05 Los Angeles

Wedding 2008-4-26

[Melrose Plant 1]

STL- THanks for the links!! I've got some reading ahead! And thanks to the other posters, as I'm very interested in other point of views when it comes to this, but let me steer the topic back a little as I think this is a real interesting conversation for the VN VJers. Its simply this:

At what point is too expensive to live in the US?

I don't mean to point out the obvious, but how about getting out of Southern California? Things get a LOT cheaper quickly.

My breaking point would be repeated requests from my wife. However, I would have to leave behind a son, and run away from some debt which I could not possibly repay on a Vietnam salary. Neither of these is really morally acceptable.

[Icarus 0]

im guessing your pretty young?? if you have been around for a few major elections you should know by now the economy ALWAYS slumps around this time. everyone is just too dam scared to get out and spend money now. this time next year the US will be fine again. have you really thought about how much different it will be living there? my fiancee has been here for 1 week now and she just told me last night she is 1000% sure she does not want to ever live in Vn again, she just wants to go on vacations there. that alone tells me i dont want to live there. i also just learned another fact about living in Vn, they dont have the right to own a fire arms. im not really a gun freak but i do own one and i happen to like being able to own it.

Actually, Don, I'm 40. I'm an entrepeneur and a world traveller. I'm not an alarmist, but am seeing a lot of changes in this country recently and I find it interesting. I came of age in the Reagan era and remember how everyone seemed to prosper. I became business literate as the dot com fantasys burst and now I'm planning a family as many skirt around the word 'depression'. I've been around for many elections, and NEVER seen the economy slump as much as it has now. Know anyone who is considering abandoning their home because of interest rates? I know a few. I've never seen gas, food, or entertainment expenses as high as they are now. So the question stemmed from the sudden realization that we all have a back door to a second life in VN. So what would it take in your life that would make it seem viable to enter that door? For me, I've got what some may romanticize as the ideal internet job, but even with this business, there is no long term security. I too would also miss too many comforts of home and the freedoms available to us here (not much for the right to arm bears, but do appreciate free speech quite a bit) to fully allow myself to live there full time. Melrose and Peter both make good points about obligations and green card requirements being anchors to the US, and I'm not really talking about becoming an expat, even tho I admire STL and others for taking that leap. I think more of a pattern whereas I could take 'long, extended vacations' to VN and have work when I get there, but still retain my US identity, while living abroad. Utilizing VN as a base I can see visiting China, Thailand, Australia, and that part of the world. Sure, this may all be fantasy and conjecture, but now that I've gotten Nhu here, anything seems possible!!

[patricks 0]

The current economic downturn has no correlation with the upcoming American election.

1.) Vietnam Banks have stop lending money for real estate

2.) The HCMC stock market has lost 50% this year

3.) 25% price inflation in May

4.) VNs Petrol is roughly the same price as USA, 15,000vnd/liter

Further reading: http://vietnamnews.vnagency.com.vn/

The VNs economic correction is coming, stay tuned.......... but, long-term VN will be OK........

I plan to retire in VN in 20 years :-)

[Robert & Van 0]

Are you Able to Collect Social Security While Living in another country?

[Teacher Mark 53]

Are you Able to Collect Social Security While Living in another country?

Social Security Rules Vary Based on Circumstances

In general, the Social Security Administration (S.S.A.) allows eligible individuals living outside of the United States to collect Social Security retirement payments in their country of residence. There are exceptions to the rule, however.

For example, your eligibility to collect Social Security benefits overseas may be affected by your foreign citizenship status and by whether or not you receive dependent or survivor benefits. And regardless of your citizenship, the U.S. Treasury Department forbids the S.S.A. to send payments to retirees living in Cuba, North Korea, Cambodia, Vietnam, or certain countries that were once part of the Soviet Union.

http://finance.yahoo.com/how-to-guide/retirement/29149#c1

[menyoo 0]

I plan to retire in VN in 20 years :-)

This is an interesting topics that I've thought for a while. I don't know about any1 else, but this is what I'll do in 20 years. By this time, my 401k plus SS check should be plenty. I like the fact that when I get old, I still have social interaction in VN, example hang out at cafe with old friends without having to worry about anything and hire a mate to cook and clean. I like the fact that food and services in VN is very cheap compare to here in the US and the buy power of the dollars.

I'm dreaming of building a small to medium US retiree community with all amenities available in VN.

[GREEN/TRAN 0]

i would love to live in vietnam.im just a blue collar guy and right now at 45 i dont know how i will even live to retirement age much less work till then. i hurt. my plan is to finish paying off my house and sell it and move to vietnam in about 10 years or so and cruze through till i can get my retirement money.so i got a little time to think about it.

[Teacher Mark 53]

If I could find a moblie income, ie a real online business that could be run from US or Vietnam which makes a income compable to the real job in the US that I have, Thi and I would spend time in both Vietnam and US. We want to have enough of income so we could keep my house here and stay for extended periods in Vietnam with her family. The reason for wanting to live over there is more based on her family than on how much it costs here or in Vietnam. We both miss her family even tho she chats with them every night. My Vietnamese is still too limited to chat with them since we're spending most of our "language" time on English. I enjoy listening and find myself hearing and understanding more when they chat.

I have no desire to "permanently leave" the US and neither does Thi. Living here regardless of the price of gas, etc is still better than any other place I know of. Also there's another potential problem about moving to Vietnam to live, Here's what the USCIS has to say about this:

"You may be found to have abandoned your permanent resident status if you:

* Move to another country intending to live there permanently.

* Remain outside of the US for more than one year without obtaining a reentry permit or returning resident visa. However in determining whether your status has been abandoned any length of absence from the US may be considered, even if it is less than one year.

* Remain outside of the US for more than two years after issuance of a reentry permit without obtaining a returning resident visa. However in determining whether your status has been abandoned any length of absence from the US may be considered, even if it is less than one year.

* Fail to file income tax returns while living outside of the US for any period.

* Declare yourself a “nonimmigrant†on your tax returns."

Peter and Thi

I-129F Sent : 2007-05-26

I-129F NOA1 : 2007-06-11

I-129F RFE(s) :

RFE Reply(s) :

I-129F NOA2 : 2007-10-26

Touched: 2007-11-02

NVC Recieved: 2007-11-16

Consulate recieved ??????

Packet 3 sent 2007-12-11

Packet 3 received 2007-12-24

Packet 3 returned 2007-12-28

Packet 4 sent 2008-1-14

Email Reply with Interview Date 2008-1-23

Interview Date 2008-2-27

Passed Interview 2008-02-27

Visa Pick Up Date 2008-3-05

Received Visa 2008-2-29 (called to pick up earlier)

POE 2008-3-05 Los Angeles

Wedding 2008-4-26

I just revisited this post Peter. Thanks for this information. I can imagine me losing my citizenship. Wouldn't that be a hoot! It appears that paying taxes on all income earned alleviates any problems. The returning resident visa appears to be for naturalized citizens. I'm looking into it now.

Edited July 6, 2008 by WideAwakeInTheUSA