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06-17-2011, 02:41 PM
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#1
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Confused about dryer sheets
Join Date: Jun 2011
Posts: 9
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Hello from Canada
Hello, I am blacktea from Canada.
I am 44 and wish to retire and travel now.
My plan is either live in a motor home and travel Cheaper European country !
Or
Jump in my car and head to Central america !
I think i am very close to able to manage, i am used to living very very frugal.
I have not seen a movie in the cinema for more than five years and eat at restaurant no more than twice a year ! Hehe, i am cheap.
I have no friends so that makes it easy .
Anyhow, i have a real serious question to ask you expert investor here.
Which will determine if my dream to retire early is possible.
I have come across some very high interest paying GIC in a number of countries in Europe.
Russia, Bulgaria, Armenia , Azerbaijan.
Theses banks are paying anywhere from 8 to 10 % P.A. on Euro account.
Considering a 4% withdraw, my saving will actually be growing every year.
So, my question. How safe my money will be in the above countries ?
Thank you
Bleaktea
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06-17-2011, 08:14 PM
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#2
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Thinks s/he gets paid by the post
Join Date: Nov 2005
Location: Colorado, USA
Posts: 1,127
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Hi Blacktea, and welcome to the forum! Congratulations on your approaching retirement -- it's nice to see your frugal lifestyle paying rewards.
I can't comment specifically on the investments you listed, since I have no experience or knowledge with them. But I do think you can pretty much depend on the risk/return relationship -- higher returns come with higher risk. And there is possible additional risk in investing in foreign currencies, so I'd be nervous about Euro-based investments unless I lived in a Euro country.
Good luck with your retirement! Your plans sound like great fun.
Coach
__________________
"Comprehensive health insurance is an idea whose time has come in America." President Richard M. Nixon, February 6, 1974
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06-17-2011, 08:23 PM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
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Welcome blacktea. 8-10% on a Euro account sounds great but have you seen the latest news? Greece may default and this may lead to the demise of the Eurozone. I think the currency risk is too high for your whole nestegg. I'm from Europe, and I have nothing to speak of in Euro investments.
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06-18-2011, 04:09 AM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2011
Posts: 8,368
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Ask yourself why these accounts are paying 8-10%, (the maximum 5 year Canadian $ GIC will currently give ~ 3.5%, and the average pays ~ 2.8%), and how stable/reliable the institutions offering these rates are.
Banks/other financial outlets don't pay out more than they have to, and the fact that these places have to speaks volumes about the risk factor.
Me, I wouldn't go near them. YMMV.
__________________
"Exit, pursued by a bear."
The Winter's Tale, William Shakespeare
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06-18-2011, 08:53 AM
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#5
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Confused about dryer sheets
Join Date: Jun 2011
Posts: 9
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Thanks for the reply everyone.
I am afraid without the high interest, i will have work many many more years.
There is something doesn't make sense about our interest rate, 3.5% on five year GIC. Yet 19.99 % interest if you pay your credit card late.
So, where would you invest your money if you were to retire right now ? Stocks ?
Here is a couple link to the banks paying 8% interest for those that are curious .
First Investment Bank - Two-year Deposit Account with a Progressive Interest Rate
International Bank of Azerbaijan
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06-18-2011, 12:50 PM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
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06-18-2011, 01:06 PM
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#7
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Confused about dryer sheets
Join Date: Jun 2011
Posts: 9
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strange.....
Where is my reply, it did not show up
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06-18-2011, 01:15 PM
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#9
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Confused about dryer sheets
Join Date: Jun 2011
Posts: 9
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again
what is going on ?
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06-18-2011, 01:16 PM
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#10
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Confused about dryer sheets
Join Date: Jun 2011
Posts: 9
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why ?
When i reply with more than one sentence , it did not show ?
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06-18-2011, 01:17 PM
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#11
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Confused about dryer sheets
Join Date: Jun 2011
Posts: 9
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annoying
Come on !
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06-18-2011, 01:27 PM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,037
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I did a test reply, and it worked.
Now adding another sentence
or two
or three
Are you clicking on Submit ?
__________________
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
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06-18-2011, 01:30 PM
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#13
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Administrator
Join Date: Apr 2006
Posts: 23,036
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Posts from new members containing links require moderator review before they are posted. The goal is to cut down on spam. We'll see if it works.
__________________
Living an analog life in the Digital Age.
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