It’s mostly good advice, a bit paranoid, but South America travelling warrants a bit more caution than a 1st world continent like North America above Mexico.
I live by https://www.scottevest.com clothing. I keep small change in my regular pockets for the ultra poor pickpocketing kids. And I keep travel and party money in the covert security pockets of ScotteVest tshirts. I’ve been nomading 3 years in mostly emerging market countries with ScotteVest tshirts and have had no successful pickpockets. ☺
Checkout my nomading blog for more details!