RE: USA Culture Shock Part 6: I've Got So Much Money I Just Need to Spend it All!
Wow this was such an awesome read & I'm glad there are people out there who feel the same way as I do! It seems like people these days--no matter how much they make--are always looking to upgrade their lifestyles, which leads to a longterm lack of being content/grateful for what you have.
"Too many people spend money they don't have to buy things they don’t want to impress people they don’t like."--Fight Club
It really amazes me too how people can live paycheck-to-paycheck. I mean (and God forbid) if something bad happens to them, they'd be in financial ruin. I guess that's all part of America's spending culture.
I don't fit in here anymore. I'm feeling a bit ill with culture shock.
I love the U.S. and am forever grateful for the endless blessings/opportunities my homeland has provided me, but I 100% understand how you feel about being back home. The more time I spend away from the States, the more I realize how messed up the country and our culture is. I've been trying to put a finger on exactly why this is so, and the closest thing I've come up with is that growing up in a country that lacks a sense of culture/cultural identity breeds bad qualities and habits among their people; unlike what you'd find in Europe or Asia for example.
That said, I thought you might find this article interesting: https://markmanson.net/america
Once you have 100,000 dollars saved, you can move it to Ecuador and earn an insured 9% of your money in interest from well to do banks and credit unions
Do you mind me asking which Ecuadorian banks in particular you'd recommend so I can start looking into this? ;)
Thanks a lot for the post & keep up the great work!
Thanks for the detailed reply. If America got a taste of real poverty in a country without such welfare safety nets maybe their views and habits would change but until then that is just how things are.
Regarding Ecuador you can put your money in a regular bank or a "cooperativa" which is like a credit union. The Banks only pay about 4-6.5% interest and cooperativas pay up to about 10%.
The KEY is, and this is super important is that you go with a cooperativa that is insured with a totally legit tried and true insurance called COSEDE. It's like the FDIC insured deposits n the US. The banks and cooperatives actually pay each month to have this insurance. This is no joke.
This is Ecuador you don't want to screw around. The insurance is up to 32,000 dollars not 250k like in the US; so if you have 100k, you want to spread it around. Secondly you can't just put your money there and leave the country. You have to get an investors visa which means you have to put at least 25k into the bank (or cooperative) or buy land at that value. You have to stay in the country 9 of 12 month's for the first two years. Like you're there more than to just take advantage of the high interest being offered. After the 2 years is up you can leave your money there and just return to Ecuador once every 5 years, even if it's for one day to get your passport stamped. But you'll forever have access to their high interest and will have permanent residency there.
This is why I had to kind of stop traveling and stay in Ecuador more or less two full years. But it's a very nice place to live. I'd recommend Cuenca if you like a more city atmosphere, or Vilcabamba if you like a small town with perfect weather. Also the "coops" will deposit your interest direct into an account linked to an ATM card every month if you wish, which I find pretty cool. That's what I have going right now. It's like my social security check comes once a month, direct deposit, and I'm only 34.
I use the biggest Cooperative "JEP" They pay me 8.5% and they are all over the country, I've also Used Alianza De Valle pays about 9% and Pablo Munez Vega pays about 9%. The last two are based out of Quito and all are in the top 20 biggest safest cooperatives in the country. Below is a link to the biggest, safest, most important coops in Ecuador. I wouldn't stray from those if you decide to invest. Don't go for anything above 10% interest that's how people get burned. If it's too good to be true it probably is.
On a side note. I'm new here on steemit less than two month's I put together this 6 part culture shock series. It took me hours and hours to do so. I've earned so far two new followers and about 5 dollars. It's quite discouraging. What do you think about helping a fellow steemer out and resteeming this article or one of my culture shock articles you like. That would be super nice of you. I see you got about 1000 followers. It would probably make all this time and effort worth while. I'd really appreciate it. Thanks in advance. -Dan "World Travel Pro"
http://sinmiedosec.com/cooperativas-mas-importantes-de-ecuador/
Man what a load of useful information, thank you so much! I dunno how I feel about having to practically spend 2 years in Ecuador (since I like to bounce around pretty often), but it's nice to know about these options. As you said, it's probably well worth it in the long run to have access to those high interest accounts for the rest of your life! And thank you for the city recommendations :)
Resteemed part 1 ;) Couldn't agree with you more on this, and it's almost frightening to think about how careful you must be these days with the words you say...it's like walking on thin ice! I hope this helps
Thank you so much for resteeming. Being new here can be a bit of a challenge to get my work seen! Yes it is a commitment regarding Ecuador, going ahead with it is a big decision and not for everyone. With how my life has gone I'm very content with going forward with it. Glad you value what I have to share.
Have a great day! -Dan "World Travel Pro"
I Like Toast 🍞
lol! I mentioned I'm new here. You are newer than me! Then I'm like 975 followers in a month! Wow! Then I scroll down to your intro. You have a big youtube following. That is awesome man! Congratulations on your ever growing success! :)
Thanks a lot man, I truly appreciate your kind words!