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Updated over 6 years ago on . Most recent reply

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Jerrad Shepherd
  • Rental Property Investor
  • Gothenburg, NE
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Mexico cd rate of 8.25% anyone biting?

Jerrad Shepherd
  • Rental Property Investor
  • Gothenburg, NE
Posted

I see the current cd rates are around 8.25% in Mexico. That coupled with the low cost of living would make it really attractive in my mind for a place to retire early. I think a good trial run would be to move $200,000 or so into an account and try it out at first or course. Have any or you thought about doing this? I realize there would be fees and such to get the currency back into dollars if need be though.

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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied

The exchange rate risk could be huge. Bank risk, too. Do they have FDIC-like deposit insurance there?

Hate to see ya change your pesos to USD a year from now and find out you're down 14%. Maybe start with less than $200k.  

Interesting idea, though!

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