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tonytiger

Jan 17, 2003, 9:11 PM

Post #1 of 11 (1273 views)

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Where do people in Mexico "put" their extra money?

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Where do the native Mexicans with estra cash (busines people) investors or the common worker that have extra cash invest in? I have some money in LLoyd's at 5.6% and feel that I"m getting a good interest rate, but my money is worth $3,000 less than when I deposited a few month's back. My argument was that the American banks is giving 1%.

Investment houses? When I was in Morelia in August someone ran off with depositors money. What do you say? Should I be happy with LLoyds 5% and hut up or is there a pot of gold at the end of the rainbow that I should transfer my money to?

Be truthful....and as always yur answers make a difference....

P.S. I have forgotten about the Orange hair and the sports car... (sorry Jennifer Rose)

jennifer rose

Jan 18, 2003, 9:39 AM

Post #2 of 11 (1138 views)

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Re: [tonytiger] Where do people in Mexico "put" their extra money?

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There are a whole host of options, depending upon the amount of money you've got to invest, your risk level, and liquidity needs. And when you're investing in foreign currencies, you're playing it against the currency of your own country. Diversifying your investment vehicles goes without saying.

There are any number of investment opportunities, within Mexico and without. And financial planners, too. Do you need everything explained in English to you, or are you willing to take the time and effort to read a prospectus in Spanish?

For an example of just one investment house, take a look at Banorte's Casa de Bolsa at http://www.cbbanorte.com.mx/casa/

tonytiger

Jan 18, 2003, 12:51 PM

Post #3 of 11 (1101 views)

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Re: [jennifer rose] Where do people in Mexico "put" their extra money?

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Thanks for the reply..I'm sure that the information that you gave me will benefit others. Basically I want to deposit pesos or dollars. I know that there is not such thing as a completely safe investment. I wqnt to invest in a bank that maybe is partially owned by U.S., or an investment house with a long track record. A couple of days ago in Yucatan an investment house ran with the money (they are problably laying in the beach in Cancun) I can read the prospectus in both languages. I have like 3/4 million pesos depreciating in a peso account and have more to dspose of.

My wife wants to know Jenniffer or other readers, if is possible to invest in dollars. We are getting 2.65% in U.S. can Mexico do better.

Thanks for your dedication to this column and those that contribute.

Tonytiger,wife and cub

shannon

Jan 23, 2004, 7:53 PM

Post #4 of 11 (860 views)

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Re: [tonytiger] Where do people in Mexico "put" their extra money?

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My question to you is, when you say "investment", do you mean stock market or putting in a bank to earn interest? Or are you interested in investing in a business, and working that business?

Shannon

gpk

Jan 24, 2004, 7:58 AM

Post #5 of 11 (821 views)

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Re: [tonytiger] Where do people in Mexico "put" their extra money?

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Here in Guanajuato my Mexican friends that have "extra" money seem to put it in rental real estate. I've done this myself, and despite the normal tenant problems, I've been happy with the results since real property cannot be "run-off-with" or evaporate since rents seem to keep up with inflation and the property is still there to sell if I want. Still not a "perfect" investment, of course.

dumois

Jan 24, 2004, 10:23 PM

Post #6 of 11 (756 views)

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Re: [tonytiger] Extra money?

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jijiji

jejeje

jajajaja!!!

Georgia

Jan 25, 2004, 7:16 AM

Post #7 of 11 (741 views)

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Re: [tonytiger] Where do people in Mexico "put" their extra money?

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My Mexican friends invest in dollars. The return at Lloyd's, for example, while very good if it were dollars, is in pesos. The peso is not worth what it was a year ago and difference more than gobbles up the improved return rate at Lloyd's as compared to a lower percentage return on a dollar investment in the US.

johanson

Jan 25, 2004, 7:35 AM

Post #8 of 11 (739 views)

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Re: [Georgia] Where do people in Mexico "put" their extra money?

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I would keep mine where ever I kept it before I came down here, investing prudently, hopefully making money and then transfering sufficient funds once per month to take care of my living expense.

Put another way, I keep my "extra" money where I feel most comfortable about keeping it (up North) and then make a phone call to my broker or personal banker each month and request that he transfer the necessary funds to me, via a Fondo Lloyd Bank of America account in San Diego, CA.

Georgia

Jan 25, 2004, 8:03 AM

Post #9 of 11 (733 views)

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Re: [johanson] Where do people in Mexico "put" their extra money?

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Aha! So, tell us more about this Fondo Lloyd Bank of America Account.

Georgia

Jan 25, 2004, 8:04 AM

Post #10 of 11 (732 views)

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Re: [johanson] Where do people in Mexico "put" their extra money?

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Oops! Forgot to ask: is there a fee for this transfer?

johanson

Jan 25, 2004, 8:34 AM

Post #11 of 11 (726 views)

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Re: [Georgia] Where do people in Mexico "put" their extra money?

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It's just Lloyds, you know the one in Ajijic Guad, Chapala Etc. I simply transfer money to their San Diego B of A account and they transfer it to my local account.

I think their URL is www.lloyd.com.mx