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  • #276669

    davidw
    Member

    hi all . first of all sorry for the bad English. i am trying

    i have got doubts :) . Sending money to brazil in USD [ my salary is in USD and my family living in brazil ] to take advantage of good exchange rate against reais is a good idea? or should i keep the money back home and wait for more good rateor is it completely a stupid idea to send money to brazil while the inflation is high and reais struggling?frankly i am not good in the economics as well. so can avoid trolling :) . i think sending money to brazil and buy some properties is a good idea now. but i really dont know the long term may be short term benefits or drawbacks of this idea. any helpful comments guidelines welcome and thanks in advance.
  • #276671

    Anonymous

    as an expat who sent back money for years, i can tell you that whenever you HAVE TO send back money the rate sucks as a rule.

    Personally I would send it before the government figures out that new 30% tax or whatever they are talking about.
  • #276672

    ffm
    Member

    [QUOTE=3casas]as an expat who sent back money for years, i can tell you that whenever you HAVE TO send back money the rate sucks as a rule.

    Personally I would send it before the government figures out that new 30% tax or whatever they are talking about.

    [/QUOTE]

    First of all WHAT WHAT WHAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA?
  • #276673

    ffm
    Member

    [QUOTE=illusionist]hi all . first of all sorry for the bad English. i am trying

    i have got doubts :) . Sending money to brazil in USD [ my salary is in USD and my family living in brazil ] to take advantage of good exchange rate against reais is a good idea? or should i keep the money back home and wait for more good rateor is it completely a stupid idea to send money to brazil while the inflation is high and reais struggling?frankly i am not good in the economics as well. so can avoid trolling :) . i think sending money to brazil and buy some properties is a good idea now. but i really dont know the long term may be short term benefits or drawbacks of this idea. any helpful comments guidelines welcome and thanks in advance.

    [/QUOTE]

    The rate PROBABLY won’t get MUCH better. If you have your eyes on a bargain, I’d go for it. I’ll let the more economically advanced members chime in with what will be better advice than I could offer.
  • #276677

    Serrano
    Participant

    [QUOTE=illusionist]frankly i am not good in the economics as well.. [/QUOTE]
    You have LOTS of homework ahead of you! Start with the Search function, and peruse the Investing in Brazil category.
    [QUOTE=illusionist] think sending money to brazil and buy some properties is a good idea now.[/QUOTE]
    Time to leave the wading pool and swim in the deep end. Take the plunge… soon, but not just yet.

  • #276679

    ioainsurance
    Member

    I think it’s a great time to sell your dollars for brazilian real. (1 dollar today is 3.51 Reais)

    If I was you, I would use bitcoins to transfer the money. I would buy bitcoins on http://www.circle.com or http://www.coinbase.com and sell the bitcoins for R$ on http://www.foxbit.com.br. You will save a lot of money.
  • #276680

    davidw
    Member

    30% tax ?????!!!!!! plShockedease explain

  • #276685

    Anonymous

    i will hunt for it when i get a chance. a few weeks ago on CBN they were talking about a new 30% tax (not IOF but something new) on money transfers coming in from abroad. It is just a proposal, nothing approved yet.

  • #276687

    ioainsurance
    Member

    One of the reasons that I recomend use bitcoins is to avoid paying taxes. Anyone here already use it?

  • #276696

    [QUOTE=illusionist]hi all . first of all sorry for the bad English. i am trying

    i have got doubts :) . Sending money to brazil in USD [ my salary is in USD and my family living in brazil ] to take advantage of good exchange rate against reais is a good idea? or should i keep the money back home and wait for more good rateor is it completely a stupid idea to send money to brazil while the inflation is high and reais struggling?frankly i am not good in the economics as well. so can avoid trolling :) . i think sending money to brazil and buy some properties is a good idea now. but i really dont know the long term may be short term benefits or drawbacks of this idea. any helpful comments guidelines welcome and thanks in advance.

    [/QUOTE]

    WHY do you want to send the money to Brazil? If you are just trying to help your family, it is an EXCELLENT time to send money back, because it is very cheap for you!
    Also, if you are looking to invest in property, it is an excellent time, as property will be relatively cheap for you (If you are not living in Sao Paulo city or Rio)! I would wait until the end of the year and then buy, as the property values tend to plummet every year here at the end of the year (at least they do here in the Northeast).
    I would say that you should just avoid sending ALL your money back to Brazil. Also, economic analists are predicting an even greater depreciation/devaluation in the Brazilian real. This is GREAT if you are more of a contrarian investor. It is also great for your family if any of them are struggling with work. It would only cost you about $225 to provide someone with a minimal salary. It might cost you even less over the next year or 2!
    Strike while the iron is hotSmile
  • #276697

    jeb2886
    Member

    Buy on the recovery, don’t try and catch the falling knife.

    It might take 3 months to recover, it might take 8 years. Holding onto something for 8 years, while it goes further down and slowly recovers is going to be painful.
    So wait for the recovery to start, and then buy. Still PLENTY of upside once you see that recovery taking place.
  • #276699

    Anonymous

    [QUOTE=alias]One of the reasons that I recomend use bitcoins is to avoid paying taxes. Anyone here already use it?[/QUOTE]That is none of your business (…but yes, a couple of us here are bitcoin early adopters.)

  • #28552

    davidw
    Member

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