Investing. Here's a question for those who know more than I

JD Jones

Moderator:North Coast,Santo Domingo,SW Coast,Covid
Jan 7, 2016
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We frequently see threads on investing in Govt. CD's and other vehicles here. The investment market here isn't what it used to be as we all know.

But what about AFPs?

Can normal folks invest in them aside from having deductions made when one works here in the country?

Could anybody walk into a bank and say "I want to start an AFP?"

I have had one with Banco Popular since I first came to the country . While my contributions haven't been that much, I have received a very high return on my investment through the years.

Has anyone ever asked the question?
 

mekkizm

Member
Jun 1, 2004
104
0
16
We frequently see threads on investing in Govt. CD's and other vehicles here. The investment market here isn't what it used to be as we all know.

But what about AFPs?

Can normal folks invest in them aside from having deductions made when one works here in the country?

Could anybody walk into a bank and say "I want to start an AFP?"

I have had one with Banco Popular since I first came to the country . While my contributions haven't been that much, I have received a very high return on my investment through the years.

Has anyone ever asked the question?

I went to the site but can't understand how this works.... Can you break it down a bit since you've done this?

Thanks
 

dv8

Gold
Sep 27, 2006
31,266
363
0
I have had one with Banco Popular since I first came to the country . While my contributions haven't been that much, I have received a very high return on my investment through the years.

how did you receive this investment? i thought AFP administered the monies put towards the pension system and only made them available once a person reached retirement age or had certain numbers of working years under their belt. did you cash your "pension" with AFP?

it seems it is not not necessary to be formally employed to contribute to AFP. you could do it as a business owner or with rental income. i wonder if it is possible to create AFP account for a child using alimony money...
 

JD Jones

Moderator:North Coast,Santo Domingo,SW Coast,Covid
Jan 7, 2016
11,697
8,128
113
how did you receive this investment? i thought AFP administered the monies put towards the pension system and only made them available once a person reached retirement age or had certain numbers of working years under their belt. did you cash your "pension" with AFP?

it seems it is not not necessary to be formally employed to contribute to AFP. you could do it as a business owner or with rental income. i wonder if it is possible to create AFP account for a child using alimony money...

I'm asking the same questions.

I'm not very familiar with it other than paying into my own AFP for the last 40 years as part of my employment. My return on the investment by Popular has run at better than 48%. As I understand it, the bank invests money put into their AFP to maximize our payout.

Had I known it would always do that good, I would have tried to stick a lot more in there.

As it is now, I'll get it all as a lump sum when I stop working.