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Better Interest Rates in Costa Rica?

July 28th, 2007

After the demise of the several high interest houses a few years ago, Costa Rica lost its appeal as a place to get thirty plus percent annual interest rates in a supposed secure offshore environment. Couple that with the influx of baby-boomers and retirees and I often get asked for secure locations where money can be kept at decent interest rates. Here are some of my ideas, and while I am for sure not a financial planner or expert in these areas, I can shed a bit of light on your options here.

Our money needs change as we age. A thirty-something person or couple can afford a lot more risk in their money management style knowing that they have another 30-40 years to “balance” the ups and downs. A bad stock decision is far less important at age 32 than at age 62. Therefore, I am directing this post to the over 50 crowd who are not in the market for a $2 million beach front home in Costa Rica. If you can afford that, then you have little need for anything I have to say.

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