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  1. #1
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    Default Savings/ certificados etc ???

    I will soon have some US$14000 that I wish to invest long term for my my daughter. She is currently 7 years old and I do not want her to able to touch it until she is 18 years old. I am currently 77 years old and probably won't last until she reaches 18.

    What is the best way to do this? I bank with Banco Popular.

  2. #2
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    Quote Originally Posted by granca View Post
    I will soon have some US$14000
    Be my friend, Godfather!!!!!
    Last edited by Bronxboy; 01-23-2014 at 01:12 PM.

    Super Moderator
    DR1.com

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  4. #3
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    Btw. investing for kids. I would be interested in the possibilities (in DR, if any besides CD) too. Not sure if there is anything else besides CD's?

  5. #4
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    Quote Originally Posted by granca View Post
    I will soon have some US$14000 that I wish to invest long term for my my daughter. She is currently 7 years old and I do not want her to able to touch it until she is 18 years old. I am currently 77 years old and probably won't last until she reaches 18.

    What is the best way to do this? I bank with Banco Popular.
    Should you decide to take a CD out at Banco Popular, make sure you ask for the Banco Central CD, it pays a much higher rate than their one.
    I'm sure many people will warn about the possible devaluation of the peso vs. the Dollar which is very valid.

    For the record, on January 7th this year Banco Central said they had the funds to support the peso should it come under financial pressure, at what point that should be, nobody knows.

  6. #5
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    I find myself in a not too dissimilar situation.
    How to leave something for my children after I'm dead????
    I have bank accounts in their names in the USA, with my 33 year old son there as the Co beneficiary.
    Many of us "Old Guys" with much younger "Barrio Rat" Dominican wives, realize, that ANYTHING,(House,Cars,$$$$$$) that we leave here for our young children, will be GONE withing a year, or less of our death.
    New Toyota Land Cruisers don't come cheap!!!!!
    There are those here who will point out "Dominican Laws" that will protect those assets for the future of out children.
    I Kinda F*#King Doubt IT"!!!!
    Ask "Barrick Gold" about "Dominican Laws"!!!!
    I can get you "Legalized/Notarized/Certified" documents proving ANYTHING you want by next Tuesday!!!
    Set up a "Trust" in your home country.
    CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC

  7. #6
    *** I love DR1 ***
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    Do it State side. Contact a reputable brokerage firm like T.Rowe Price. Either through their web site or phone. They will advise you on your best options and tax advantageous investment vehicles.

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