Considering that the Canadian Dollar is quite valuable compared to much of the world, someone I know recently told me that if one was able to save up a small sum of currency, lets say $10 000 – 15 000 CAD, then this money could be used to live quite comfortably for a few decades in many developing countries that have a fairly stable quality of life. A philosopher doesn’t need much really, so he could probably stretch out the money even more.
First of all, in your option, is this idea even possible? And if so, then what is a fairly stable developing country in a tropical climate that isn’t torn over civil wars, and so on? And I’m looking for a country that gives a fairly high return on Canadian Dollars as far as spending power is concerned…
Any suggestions?
Comparable global currencies and qualities of living.
- Ryan Rudolph
- Posts: 2490
- Joined: Sun Jan 29, 2006 10:32 am
- Location: British Columbia, Canada
Re: Comparable global currencies and qualities of living.
The Canadian dollar is modestly up compared to the US dollar. That doesn't mean very much, if you are looking to stretch your money. In fact, you aren't even likely to get a fair exchange on that rate if you try to convert it to USD. They would tax you, and they will also give you less than the advertised 95% anyway. The only way to make money on the loonie would have been if you had a lot of money to convert in the first place, and you would need to have the right connections to make sure your trade was given full value, which is not that easy in the first place.