What are the provinces with the most millionaires in US dollars not Dominican pesos (per capita)?

[keepcoming]

How would a million produce 80k a year and for how long? You can live like a "king" on 80k? What about school tuition for kids, a nice car, shopping, dining, the theater and travel. While a million is certainly nothing to sneeze at, it is not a note worthy event, not even here in beautiful down town D.R. Walking around the city I cannot count the number of 100 thousand dollar vehicles. These type of vehicles are not purchased by people with a net worth of a million.

I was curious about that, producing 80k a year. Actually, sent a message to our accountant about it, haven't heard back. I guess it would depend on your lifestyle. I know people who have retired early think a million saved would get them through. A few have been very disappointed that it is not as much as they thought it would be. As for the DR, there is definitely money all over the country. But those with it (truly with wealth) for the most part do not flaunt it. Yes, some will use flashy cars, jewelry, etc....to show off their wealth. But those who are truly wealthy (very) tend to be discreet about it, and for very good reason.

 

[playacaribe2]

I still remember the days when even fewer families controlled just about everything. You couldn't open a business without the blessings of one of them.
And who remembers when you couldn't import a vehicle?

Raising my hand and nodding in agreement.

The political cabal that controlled the vehicle import trade and the ports at the time, made it virtually impossible to do without their “assistance.”

Just another example for a now closed thread about the government being the problem instead of the solution.

I will be in Caucedo Monday to receive some cars and I can assure you that hassles are still there…….but nowhere near what they used to be.

Times have certainly changed, but lots of further progress is necessary…….in so many other areas.


Respectfully,
Playacaribe2

 

[playacaribe2]

How would a million produce 80k a year and for how long? You can live like a "king" on 80k? What about school tuition for kids, a nice car, shopping, dining, the theater and travel. While a million is certainly nothing to sneeze at, it is not a note worthy event, not even here in beautiful down town D.R. Walking around the city I cannot count the number of 100 thousand dollar vehicles. These type of vehicles are not purchased by people with a net worth of a million.

It can be done, but not without risk to principal.

100% guaranteed US long term bonds are not even yielding 5%, but a careful selection of stocks could and does yield that and more over time. But, they carry risk and no guarantees.

If you could generate 80k, a strategy I would employ if living there would be to take a portion of the 80k not needed for monthly living expenses and invest that in peso certificates giving you additional compounding of your money.

As to 100k vehicles, most higher end AudI’s, BMW’s, Lexus, Infiniti, Mercedes, Acura etc., are all over 100k here……and there are, as you suggest, lots of them around.

Respectfully,
Playacaribe2

 

[Big]

It can be done, but not without risk to principal.

100% guaranteed US long term bonds are not even yielding 5%, but a careful selection of stocks could and does yield that and more over time. But, they carry risk and no guarantees.

If you could generate 80k, a strategy I would employ if living there would be to take a portion of the 80k not needed for monthly living expenses and invest that in peso certificates giving you additional compounding of your money.

As to 100k vehicles, most higher end AudI’s, BMW’s, Lexus, Infiniti, Mercedes, Acura etc., are all over 100k here……and there are, as you suggest, lots of them around.

Respectfully,
Playacaribe2

One million net worth is living like a king? Maybe if it supplements a nice U.S pension and/or a life long annuity rounded off with real estate holdings. I was not suggesting there are countless 100k plus vehicles around the S.D area. It is a fact. I see them every day everywhere.

 

[playacaribe2]

One million net worth is living like a king? Maybe if it supplements a nice U.S pension and/or a life long annuity rounded off with real estate holdings. I was not suggesting there are countless 100k plus vehicles around the S.D area. It is a fact. I see them every day everywhere.

Without the parameters defined…..the answer is both yes and no. If you have no mortgage or rent payment, own your own vehicle……living like a king would certainly be doable. Otherwise, with those expenses and depending on where you live, you might just be scraping by.

And countless is hardly a quantifiable term…..but I do agree with your suggestion.

Respectfully,
Playacaribe2