Living in DR

rdidwhat

New member
Aug 6, 2008
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Hello Everyone,

This is my first post here after reading for some time and I hope that someone can give me some guidance about a major life decision I've recently made.

I've been going to the DR off and on for the last 20 years (parents are from there) and I'm trying to plan for an early retirement within the next 2 years.

I've already started the Citizenship process but I needed some more investment information.

Hopefully I will have from 100K to 125K in my possesion by that time and as well as a furnished apartment that I will own.

Other than Banco Central CD's are there any other banks that give good interest? I don't want to put all my eggs in one basket as I've heard many times before.

I'm also a little bit skeptical about commercial paper loans via Anoeca and the like.

My goal is to live off my money instead of working. Is this possible with this amount of money?

Thanks for your help
 

Hillbilly

Moderator
Jan 1, 2002
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514
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Roughly speaking that is about $3 million pesos give or take. Yes, you should be able to live on that. IF you use your head. No Porsche, not too many women, not eating out every night. Being more Dominican than foreigner.
Where can you park your funds?
Banco Popular--
Dominican Bolsa de VAlores. This is commercial paper from solid companies, fairly short term with fair interest rates. I am not at all familiar with the process. but I think you might need to have some hands on experience.
Look into it at least.

HB
 

Joey Smith

New member
Feb 1, 2009
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Hi.
How much is current profit rate on commercial paper these days , in pesos for a term of one year. does anyone know
thanx