How to Make Your Money Go Further in Mexico

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Title	:	How to Make Your Money Go Further in Mexico
Lasting	:	8.14
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Views	:	32 rb

Ready to Move to Mexico? Check out the COMPLETE Mexico Relocation Guide bitly/3SICdD0 brBoost Your Spanish youtube/Nzc1oRSAPQ0
Comment from : Qroo Paul & Linda

Big ups and big love for the awesome daily content Because inflation devalues your savings, it compels everyone to be an investor Meaning you need to preoccupy yourself or offload your time/energy to the study of investment opportunities both of which are very costly Thanks to iHalle Saldana_, for showing me the appropriate way to get into bitcoin investing and trading with her trade signal and investing guidelines Investing and trading are more than just having TA skills There is a big component of discipline and emotional maturity, that one has to work on! Time in the market vs timing the market If you keep that mentality as an investor, you will stay calm during the storm! Within some months I was making a lot more money and have continued on that same path with _ Halle Saldana,/i thanks so much
Comment from : Yeong Seung

I'm new to crypto! How can I make more profitable investment in crypto currency without incurring much losses?
Comment from : Thomas Charles

Any updates on Mex transfers, best strategies and exchange rates since dollar app?
Comment from : Douglas Lane

Please make a video on how to buy CETES (Mexican bonds) from the USA A and / or for permanent residentsI called them in a Mexico City today They are currently at 11 a year I was told I need an RFC from a SAT office I am a US/ Mexican citizen
Comment from : sciencelabvideos L

Do you have information about investing in Mexcian Government Bonds?
Comment from : Kata Kokeny

His
Comment from : Ricardo Velentina

Hudfujch
Comment from : Smith Mike

Gran contenido Como principiante, se espera que los corredores operen estratégicamente para obtener mayores ganancias/buenos rendimientos en acciones, bienes raíces, criptomonedas y otros activos rentables
Comment from : James Williams

Hermoso contenido de video amateur Para verificar efectivamente la viabilidad de este contenido, le recomiendo que contacte a un buen corredor como el Sr Romeo Lorenzo Sus estrategias y técnicas comerciales son las más adecuadas para inversores nuevos y antiguos
Comment from : james fred

How difficult is it to open a bank account in Mexico?
Comment from : The master Victor

Do you have any experience with Mexico Cetes?
Comment from : Mark Doore

This video aged very well, not even a year later and the peso to dollar exchange is 178 pesos to 1 usd (go Mexico 🇲🇽 showing strength during these insane times) had anyone listened and purchased when the rate was 21/1 , that’s excellent! Great vid , can’t wait to get to Mexico!
Comment from : KC Gonzales de la Natsarim

what would you suggest at this point, with the exchange rate from USD down?
Comment from : Ellen Anne Shapiro

Great video Lots of very useful info Why do native English speakers insist on saying PAY soes instead of pesos?
Comment from : Chris Stynen

Thanks for sharing ❤
Comment from : W Footie

The 10k I put into stocks made me over £90 k in months from buying ETFs and startup company’s Stocks and day trading over some months, I was able to generate good ROi monthly after tax most thanks that my portfolio is managed by one of the best fiduciary sir Arlo Eric and ever since it’s been a great source of income for short and long term
Comment from : Christoffel Thyago

I highly recommend @jane__richardson if you want your money to work for you She is a great person to talk with very professional and offers a fantastic level of personal value for investors and she keeps her promises
Comment from : Gordon James

The dollar has plummeted…My rent is almost up $100 more since December I hope the dollar goes back up! I’ve been here almost 10 years and it hasn’t been this low since 2016 Do you have a favorite site that seems reliable for predicting the Peso to USD?
Comment from : jamie souza

You called it right Today peso is at 181 From 21 when you made the video BRAVO
Comment from : Arnim Grunewald

I have become dept free since I started my trade with Afflixtraders and I have earn over $10,000 and more still coming all thank this trading platform i have made so much profits I made a withdraw of $25000 I'm so much excited at this moment
Comment from : Allison McCall

How can I start account out there living in the usa
Comment from : Luther Perkins

Why not just use Bitcoin and an exodus wallet makes it easier ?
Comment from : Edward

Can you make one on cost of building a house in Mexico?
Comment from : Andrea Wisner

As usual, Paul, I love your videos -- so informative! But this one is very US-centric What about all us Canadians in Mexico? We have permanent residency and live in Puerto Escondido most of the year But the only way we know to transfer money here from our Canadian bank is by being there -- back in Canada, and at the bank in person to make the transfer This restricts us from having the flexibility to choose our transfer dates based on the peso exchange rate Do any of these services -- Wise, Remitly, or EX, work for Canadians?
Comment from : Arlene Prunkl

GreatGREAT video I am an early retiree and plan to move to Cancun early 2023 In an early video you mentioned being mindful of keeping Mexican Bank account bellow 10k due to IRS reportingwill the higher exchange offset this? Keep up the great work I truly appreciate you!
Comment from : RodneyB29

100 agree with your strategy My husband and I live in Europe right now and we are taking advantage of the strong US dollar vs the Euro Thank for the valuable information👍😊
Comment from : Mireya M

This is super helpful--thanks, Paul!
Comment from : Betsy Gutting

Hi Paul! Can you tell me who you bank with in Mexico or suggestion one We recently moved from the US to Bucerias, Nayarit Thanks!
Comment from : Tiffany Phillips

Non Mexican residents can’t get a Mexican bank account What can I do after making a “wise” transfer? What’s the next step I’m confused please help 🙃
Comment from : January Davis

Can I open a bank account in Mexico if I'm not a resident? I will be in Mexico on a 180 day visa waiver
Comment from : Phat Ho Kum

Are there opportunities to put funds into Mexican bank Certificate of Deposits?…
Comment from : KevinR

Could this appreciation in value be taxable by the US I RS?
Comment from : D KS

The best times to trade are when inflation numbers come out USD goes up compared to MXN because the market prices in future interest rate increases by The Fed The rate goes down if Mexican Central Bank sells pesos or increases their interest rate to make the exchange rate favorable to Mexicans (usually happens within hours or days)
Comment from : Cspan1993

Very well explained! I have questions: is there a limit on the money you can receive in Mexico? Do they tax the money transfer from a foreign country?
Comment from : Junjie

Great explanation I regularly have to send cash to workers for our property and would be beneficial to note the best times to transfer especially if non urgent
Comment from : tookallyourmoney

Thanks so much I really find all your videos helpful and informative Living here in Mexico City I really appreciated your videos about getting the RFC, finally got mine last week After making my virtual appointment, it ended up being about 2 months until I was seen in their offices, and they couldn’t have been nicer and it only lasted 20 mins Again, thanks for your videos! Take care to both of you
Comment from : Taylor SaintTheos

The Fed is far from finished Only exchange your USDs for MXP when you have to As the Fed raises rates, the USD will grow stronger against most other currencies
Comment from : peter bedford

Have you talked about Assisted Living in Mexico? Thanks
Comment from : BIll Ligon

Thanks for sharing
Comment from : Caban Condos Mexico

Hello Paul Can you talk a little bit about taxes involved in transferring money to Mexico? The Mexican government audit these transfers, the banks report the come in money?? Etc Etc Thank you Paul
Comment from : Edexo Arp

Paul, br You have one of the better ExPat channels Thanks for sharing and doing your homeworkbr This topic is a classic, and I've seen some odd logic !br Another way ( requires higher account balance) br Is Multi-currency account options: with a few of the progressive larger multi-national Banks
Comment from : 1879gym

From someone who just bought house in Mexico it makes a big difference
Comment from : Pete Wick

Paul, I do admire your videos, but this one is way below your average ones As a master in Economics, there are too many ways to tell you where you are off 1) most people do not live off $3,000 but half or less 2) Most people cannot transfer $15K or more But most importantly, it is penny wise, pound foolish Only thing that makes sense: check where you can get pesos On a longer term, the peso is devaluating to the dollar and euro at a rate of 10-12 annually To keep all the money you do not need in the US or Europe, or at any dollar or Euro Account (now you feel the power of Wise, where you can move them around freely) makes you an interest on average of 10-12 which no bank gives You should have a Mexican account and try to have about 3 months of reserves there in case of emergencies The rest I am not even going to argue, because I did not even mention half the points you are missing
Comment from : Arthur Otte

Love your vids Do I need a Mexican bank account to use Wise to send money to myself (buy Pesos) from US? Been trying to figure out Wise but not doing very well Thanks!
Comment from : James & Rina

Thank you SO, SO much for sharing this!!! It is so useful! I will look into WISE and Charles Schwab Some folks have said to keep a low balance in your Mexican Bank Account Could you address this; why/ why not? It seems you have a good amount of money in your Mexican Account And…any tips for the best bank’ banks in Mexico to do business with? Thanks Paul…always so appreciate your channel
Comment from : Cathy Platin

I am researching retiring in Mexico and I have watched almost all of your videos Thank you so much for all the effort you go to provide so much information I really enjoy your videos and have learned a great deal! I never thought about transferring money when the peso/Dollar rate is in my favor This is amazing! (Also not having more the $10k in a Mexican bank) Thank you very much
Comment from : Learning with Lynda

So if I have plenty of pesos but want to convert them to dollars, 1950 is the low that I want to wait for?
Comment from : Best Deal Mexico Real Estate

Do you use only Wise or do you have a few of the apps connected and use different ones at different times? Thank you, great video
Comment from : Destination Retirement

More of these, please
Comment from : arrivedp

Gracias!
Comment from : TruthFreedom Seeker

Thank you for this information, Paul!
Comment from : LayLays Land of Magical Wonder

Way to go Paul! Excellent video!
Comment from : John Tomonovich

Hi there We're planning to retire next year in Mexico We'llbe in Sonora We need to learn more about the mexican banks and how they operate vs the American banks I don't want to open the mexican bank account till we are closer to retirement I was born in Mexico and my husband just finished his mexican citizenship as his mom was Mexican For example do mexican banks charge a monthly fee or are they waived if you maintain a minimum balance? Thank you for the informative video
Comment from : Judy Delgadillo

No Americans in Mexico hate usa from Mexico love canada and Russia ♥️🇲🇽🇨🇦🇷🇺♥️🤜🇺🇲
Comment from : family and friends

Hey PAul Thanks to you I have been Using XEcom ever since about 7months Now' it works really smoode we are Moving slowly to puerto Vallarta DT very soon trying to figure out custom services something Im learning on Thanks for all the info PAul Gracias Sosade
Comment from : DA sos

Would you recommend exchanging here on the US before I come down for a dental/vacation I do have plans to move permanently within 6 months
Comment from : Debbie Johnston

Thanks Paul I read conflicting information about how much a foreigner can deposit (per month) and hold in a MX bank account Can you please speak to that?
Comment from : loren linck

Hasta luego
Comment from : Mr Dabolina

Hi I just stumbled on your channel looking up videos of Mexico Very small world I remember riding with one of your deputies back in 2015 out of central on a ride along 😀 you was his sergeant or lieutenant I believe
Comment from : R2BA

Paul, excellent explanation of the importance of knowing that exchange rates fluctuate and that knowledge can be to one’s benefit
Comment from : Ron Kaku

Great info Paul
Comment from : Patricia Diaz

Thanks!
Comment from : Olivia Taylor

😊👍❤🙏
Comment from : Carlotta

Always thumbs up for your videos!
Comment from : Maria

Great video--I started transferring funds yesterday!
Comment from : Teresa Morgan

I do exactly the same using xe and Wise I can predict the upswings when the Bank of Canada do their planned rate increases Obviously it's the opposite effect when the Banco de México do a rate increase Higher rate means people are buying that currency thus increase in value Usually those upswings last only few days and sometimes only few hours Exemple on the last BOC announcement of a full 1 raise on the 13th July, the Cdn$ upswing (167pesos/1$ CDN) lasted only few hours I lucked out and got a transfer at the top
Comment from : L B

Holy crap If your living like that on 3k, 9k would easily be in the top income brackets of Mexicon income Not talking trash (3k a month in retirement is really good for most people) I'm just saying my retirement is 6700 a month and her's is 2300 and I'm just doing a general comparison
Comment from : Johnny White

Thanks
Comment from : Angel of A Million Years

Why do you need an app if you have 2 bank accounts? Can't you just transfer direct from US bank to your mexican bank to make it simple? Thanks
Comment from : Angel of A Million Years

Is your first name spanish?
Comment from : Angel of A Million Years

Good explanation, Paul I've taken a very similar approach In fact, yesterday I posted something about the favorable exchange rate on Facebook and said this:br"Every time I post something like this, there are people who confuse this with currency tradingbrbrThis is very different from currency trading It’s simply using market conditions to my advantage in order to reduce my living expensesbrbrIt’s like this: when you go grocery shopping and find out that there’s a good deal on chicken, you buy more chicken than you normally would because you know you’re going to eat that chicken eventuallybrbrWell, right now, there’s a good deal on pesos So I’m buying more pesos than I normally would because I know that I’m going to use those pesos eventually"
Comment from : Tangerine Travels

I know when I check this morning it was just a smidge higher
Comment from : melann406

Im a little confused Maybe you can tell me what im doing wrong? The sign outside said 27 today July 14, 2022 but when I go inside and exchange $900 US dollars to pesos they give me a rate of 2005 the exchange place is just on the US side in Tecate, California The sign outside says 27 today They said that rate is for exchanging pesos to dollars I gave them $900 dollars today and they gave me 18,000 pesos Did I get ripped off? I called Chase where I bank but didnt sound like exchanging dollars to pesos is something they do Im lost and feel like I have been getting ripped off In other words how could I have gotten 27 rate today? 😓
Comment from : Patrick C

As alwaysvery informative and well explained When do you think you will do a meetup event here in QR? I live in PDC and would love to meet up with you guys
Comment from : Why No Worries Life

That’s for the increase in interest rates in the US, because of inflation, the price of the dollar will have to rise!
Comment from : Arturo Nevarez

Well done, thanks
Comment from : jon meek

Anybody know how to start this process for someone who is still in the states? Thanks in advance!
Comment from : Jenny Andrievna

Hi Paul and thank you for your videos Question regarding the "EX" currency app Is it PC only or available as a Google app?
Comment from : Scott Elliott

I'm doing a pleasure trip to CDMX I'm not sure if it really matters, as my lodging is already contracted through Airbnb But I'm happy the exchange rate is favorable I just bought pesos, yesterday And I'll buy more when I'm settled into my little barrio Every penny--er, I mean peso--counts!
Comment from : Khanh Ho

Next time I'm having this conversation with someone and I get "the look," I'm going to share this video with them You explain it better than I do, and I'm a retired financial advisor - Anne
Comment from : Tunemistress

Thank you Paul! 🙏🐸
Comment from : Johnny Foster

Thanks 🙏
Comment from : carlo noble

Because of your earlier video, I am using Wise, and they send me a notification when the pesos reaches 2100 to the USD
Comment from : Richard Pargot

Great video! As the saying goes, a little goes a long way Thanks Paul
Comment from : Andrea Vanda

Very helpful and simple to follow Thanks Paul
Comment from : Kate M

Too bad I can’t have more than $10,000 in my Mexican account
Comment from : Peggy Lagomarsini

so right now the more you move, the more you make 💰
Comment from : DeepScubaDiver

Hola from another retired law enforcement officer:) Thanks for another great vlog :)
Comment from : marcus s

2 Gringos On The Gulf Jennifer & Darryle

Oh I thought you were gonna say become a vegetarian hahaha darn meat is costly world wide Darn We Need to raise our own farm animals brTake care guys Cheers from The Gulf Of Mexico J&D 🍁🍁
Comment from : 2 Gringos On The Gulf Jennifer & Darryle