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  #281  
Old 06-24-2009, 09:46 PM
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Join Date: Feb 2006
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MikeFisher Level 7 MikeFisher Level 7 MikeFisher Level 7 MikeFisher Level 7 MikeFisher Level 7 MikeFisher Level 7 (578)
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right Alex,
fix deposited/invested on 19% per year $140.000.-US bring the RD$80.000.- pesos monthly interests.
the last years our exchange rates show nice stable, so a good thing to do.
to your Q on the other thread about sending that money to Canada the debit card in your daughter's hand's in Canada is the best bet, lowest fees involved and you get the better exchange rates on 'bying Canadian dollars with dominican pesos'.
80K a month may be low for some couples on the Isle, but also sound much too much for other couples for a 'decent' living.
here on the thread with the subject (moving to the DR on a budget" i would name it too high to be appropriate for the thread.
no offense meant, but here the guys are looking for the 'lower decent' livestyle.
cheers
Mike
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  #282  
Old 06-25-2009, 04:13 PM
hasta la tambora
 
Join Date: Apr 2005
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Tamborista Level 8 Tamborista Level 8 Tamborista Level 8 Tamborista Level 8 Tamborista Level 8 Tamborista Level 8 Tamborista Level 8 Tamborista Level 8 (985)
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Originally Posted by alexgrun View Post
I have all my money invested here at 19% so I just live on the interest
What institution is paying you 19% interest?
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  #283  
Old 06-25-2009, 07:33 PM
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MikeFisher Level 7 MikeFisher Level 7 MikeFisher Level 7 MikeFisher Level 7 MikeFisher Level 7 MikeFisher Level 7 (578)
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hi Tambo,
i do not have my money deposited fix here in the country, i too much wanna be on the save side with the 'last savings', they stay where they are since decades.

but to Alex's account,
i have a swiss Lady friend down here which has deposited with the BC 3 millions pesos since a few years, and she get's out of that deposit around 50.000.- pesos of interests per month.
i do not know the details about how to deposit such/detailed conditions aso,
heck, it's her money and i darn sure will not ask, not my business.
but on deposits done in pesos it looks like there are good valued interests ouththa.
of course always with the risk that the peso may fall in value,
the gubmin keeps the exchange currencies artifically up, such may bring a change any moment, too, invests in pesos would go much down hill on such ocassion right away of course.
i would recommend such invests only to people who do absolutely in no way depend on such interests payments for a living, if it's an extra to the anywyas present backups, yeap, than it is a good deal of course.
Mike
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  #284  
Old 07-10-2009, 12:55 PM
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Noche Level 1 (17)
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I find Johne's comments very sad and offensive. We have gone to the DR in blocks of time over the last 10 years. Prior to that we housed Dominican minor league baseball players FOR FREE. Never did I think of any of them as a burden. Each time we go to the DR, we take one bag for our stuff and one duffle bag full of clothing, shoes, toys, eye glasses, whatever and make our way into the neediest of areas. We volunteer services during our stay. Sometimes we take 6 people with us.... that is a lot of stuff! I find it very offensive that Johne's comments suggest we are a drain on the DR economy. Maybe our goal has nothing to do with money, but rather to share our lives ... to live simply.
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Originally Posted by johne View Post
One more person that does not have a vote/say in the government of the country. One more person that will give less to their host country than they receive.One more person that THINKS they are moving to paradise, before paradise in the sky, and will be challenged to make a real go at living.

One more person that thinks "retirement" is the finish line. BTW-for those that post "five more years to the end of working, bla, bla, bla..... retirement is not the finish line, it is the start of a new life for you. The DR has many, many strong points, but is it for you????

john
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  #285  
Old 07-12-2009, 05:24 AM
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rockero Level 1 (26)
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HI I am still thinking of moving to DR end of year for a few months but I need to know how long I can live here on a Tourist Visa if anyone can answer that then post back here right away,,Thanks Then....
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  #286  
Old 07-12-2009, 05:52 AM
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london777 Level 1 (37)
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Quote:
Originally Posted by rockero View Post
HI I am still thinking of moving to DR end of year for a few months but I need to know how long I can live here on a Tourist Visa if anyone can answer that then post back here right away,,Thanks Then....
I know someone who entered fifteen years ago as a tourist and is still in the DR without residencia and without encountering any problems from that quarter. Whether that is the best strategy I leave to those more expert, but it can be done.
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  #287  
Old 07-13-2009, 09:49 PM
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nycgirl Level 1 (10)
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I think 1000. a month is alot there. I know people there that live on like 500 or 600. I own my apartment there free and clear. maint. is like 1000.pesos. and bought the apt. with the thought of eventually retiring, but I'm more afraid of being bored there.I am a born and bred new yorker of Dominican descent . Well traveled and well read, have an open mind and a variety of colorful characters I call friends.And I feel kind of sad when I am there, that most Dominicans just love their merengue and mofongo and don't really care to know about not much else.I like these things too, but only "in addition to".
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  #288  
Old 07-14-2009, 10:04 AM
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MikeFisher Level 7 MikeFisher Level 7 MikeFisher Level 7 MikeFisher Level 7 MikeFisher Level 7 MikeFisher Level 7 (578)
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Quote:
Originally Posted by nycgirl View Post
I think 1000. a month is alot there. I know people there that live on like 500 or 600. I own my apartment there free and clear. maint. is like 1000.pesos. and bought the apt. with the thought of eventually retiring, but I'm more afraid of being bored there.I am a born and bred new yorker of Dominican descent . Well traveled and well read, have an open mind and a variety of colorful characters I call friends.And I feel kind of sad when I am there, that most Dominicans just love their merengue and mofongo and don't really care to know about not much else.I like these things too, but only "in addition to".
good points NYCgirl,
i agree and just wanna add to the info.
most Dominican Citizens do by far not have $500.-US per month,
they live in average on much less.
and they do not care about savings,
it is typical to live from payday to payday,
to run out of funds 5 days after payday isn't out of the ordinary.
could a expat live that way?
NO!
that expat would not have backup funds after the money is spent to buy food or pay transportation to go to work til the next payday, and he would be completely down at the moment he looses his job.
in such case a local labourer has a huge backup which is named Family, fiao al colmado aso.
to by a cheap appartment like you did, to have a place to stay or rent it when not in the country yourself, is a good idea,
but here we are talking "Moving on a Budget", i doubt that the typical budget-expat-visitor has the inicial money to purchase own property/appartment/house.
1.000.- pesos monthly maintenance for a appartment sounds a bit cheap too me calculating electricity, sometimes a new paint, replace damaged accessoiries like a ceiling fan or fridge aso, but possible of course.

somebody above mentioned to know a expat who is here since 15 years and still has no legal papers like residency and never had a problem.
that's right,
the list of such people is very long,
but keep always in mind that times are changing once in a while,
and in developing countries some changes come often in very drastic ways.
what such expat would have or could do if deported back home on his own costs after a long time on the island as a low budget 'visitor' without any backup savings?
they typical situation back home in germany for such person would be on the streets without big help from the gubmin, and to forget to find a job to pay for simple things like food.
actually the Dominican gubmin is discussing about actions on the immigration laws.
some even plee for a amnestie of long term illegals to get them a residency, but just the long term ones of at least 5 years permanent illegally residing visitors and just for the temporary residency for 2 years. after those 2 years they would need to pay for the permanent residency or get a flight on own costs.
if such amnesty will be done we can be sure that not long afterwards the immigrations authorities will do massive sweeps to get the ones who did not apply for the offer and on that sweep the short term illegals would be on the same truck to the airport.

the fact that an average dominican labourer lives on funds which would be named a very low budget in many other countries does absolutely NOT mean that a foreigner without real family on the Island can survive the same way for a longer time period.

Mike
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  #289  
Old 07-14-2009, 11:02 AM
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AlterEgo Level 2 AlterEgo Level 2 (119)
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Quote:
Originally Posted by MikeFisher View Post
somebody above mentioned to know a expat who is here since 15 years and still has no legal papers like residency and never had a problem.that's right,the list of such people is very long,
Mike
Hi Mike, you're right. I have a good friend, an American originally from NYC [in fact, she introduced me to my husband 34 years ago], who moved to Santo Domingo permanently about 12 years ago. She had previously lived there for several years in the 70s. She invested most of her money with the Central Bank and lives off the interest, now that she's eligible for Social Security she's truly on easy street there. She's not a legal resident, just never felt she had to. Her legal address is the US, still has US bank accounts and credit cards, rents an apartment in SD, owns a car, has local DR health insurance - yet as far as the government is concerned, she doesn't exist. From what I understand she's got a lot of company.
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  #290  
Old 07-14-2009, 11:09 AM
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bryan1258 Level 2 (79)
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I'd like to find a 19% return.

Last edited by bryan1258; 07-14-2009 at 11:13 AM.. Reason: question answered
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