In recent years, more and more wealthy people have started looking beyond their own country for a place to live. They have begun treating their lives like an investment portfolio — something that should be protected, not just enjoyed.

Peter Thiel is a perfect example of this. He has spent more time in Argentina lately and has bought a home in one of Buenos Aires’ wealthiest neighbourhoods. He has also enrolled his children in school there. Thiel co-founded major companies such as PayPal and Palantir, and he is well known as a prominent libertarian thinker.

Wealth advisors say this kind of behaviour has become a clear trend. Rich people may want multiple passports, and they might choose to set up tax residency in more than one country. Some have even said that everyone should have at least one “Plan B” country in case life becomes difficult at home.

Other countries have noticed this trend and have changed their rules to attract wealthy migrants. New Zealand, for example, has relaxed its golden visa requirements, and applications from rich Americans have increased sharply. Costa Rica and Thailand have also seen a rise in wealthy newcomers.

Some people have decided to relocate permanently rather than simply buy a second home. According to one research firm, a record number of wealthy individuals have moved to new countries this year, and even more are expected to do so next year.

Experts say this trend could continue for years. If political or economic conditions become unstable, more rich people might choose to leave. Whether or not this is the right decision for them, it shows how seriously the world’s wealthiest people are starting to think about where — and how — they want to live.