@@NomadElite Paraguay is one of the places I have strong interest in visiting/living the trifecta lifestyle in S.America along with Uruguay (Which seems on the safe side) and Argentina .. You seem to have a wealth of great information glad I found the channel ..
Must be possible to open an investment account? What would interest me would be the ability to trade directly on the BOVESPA thus bypassing the need to purchase ADR s and not having to pay U.S. witholding tax. Am assuming Itau would be the best option?
Both. You can only pay with Guarani in Paraguay. There may be exceptions to this rule but it holds true in the overwhelming majority of cases. Get a 0% foreign exchange conversion fee credit card and you'll be good to go. More and more Paraguayan businesses accept credit cards, but not in the rural areas.
On some point you run out of money/savings , how you can survive in Paraguay where the wages are so low. For myself probably go for few months on some shutdown in Alberta and come back . Lots of travel.
You need dollar or euro denominated income. The *easiest* way to do that is stocks of which curated dividend stocks would be the most reliable, preferably a low cost ETF like SCHD if you’re unfamiliar with stocks themselves. A less passive and more complex but well tested way would be real estate, either abroad or within Paraguay but advertised and rented to foreigners/tourists in dollar/euro, for example via airbnb. Another reliable but highly subjective way would be a remote job paid in really any more or less stable currency, that obviously depends on your skill set, if you are a fluent speaker of a language that’s not natively spoken in a low wage country(like German, Japanese, any Scandinavian language etc) that can be a good advantage that’s not easily replicated.
You need money no matter where you live. It's no fun without income or savings. If you have a fixed monthly income like a pension, you'll live much better in South America than Canada.
