@DBrozeLiveFree If this happens it’ll be interesting especially since it seems like the older folks are really out the loop when it comes to digital payments
This is the moment Mexico's President Claudia Sheinbaum announced the plan to end cash payments at gas stations and toll booths by the end of this year.
“Our goal is that this year we make it mandatory to pay for gasoline and toll booths digitally. This will allow us to promote accessible digital payments that allow us to advance the digitization of the country through many other schemes," Sheinbaum said.
I highly doubt they can make this happen in Mexico. Learn the full story of this week's 89th Banking Convention in Mexico.
Mexico’s Central Bank, BIS, and BlackRock Discuss Phasing Out Cash and Future of Digital Money
As the 89th Banking Convention wraps up in Cancún, Mexican President Claudia Sheinbaum announced plans to end cash payments at gas stations and toll roads by the end of 2026.
thelastamericanvagabond.com/bis-blackrock-…
🚨🇲🇽BREAKING; Massive fire at an oil refinery in Tabasco, Mexico. Five dead.
Between this war and cartel chaos, Latin America's energy infrastructure is having a brutal month.
Rich people don't sell their assets.
They keep them and borrow against them to buy more assets.
Stocks, property, gold, crypto, and even certain watches are assets that you can borrow against.
By doing this, you eliminate capital gains tax.
I wish I had known about this earlier.
Here's a way better way to buy a house than getting a bank mortgage.
Instead of putting a big down payment, take that money and invest it in great stocks for 10 years.
During that time, rent a place to stay. For anyone who thinks you're throwing money away by renting, keep in mind that almost the entire mortgage payment you pay during that time is going to the bank's interest, not the principal.
Your rent will probably be less than your mortgage payment + property tax + repairs. So use that extra money to buy more stocks.
After 10 years, take a loan out against your stock portfolio and buy your house in cash. You will now own the house outright and have the deed - unlike getting a mortgage, where the bank holds the deed.
Your loan rate will be WAY lower than a mortgage rate because it's secured by your stock portfolio. Also, you don't have to pay back the loan on a monthly schedule. You can pay it back at your own pace, or don't pay it back and let the interest accrue on the loan. You never have to worry about the bank taking your house if you miss a few mortgage payments like a bank loan.
After it's all done, you own a house outright with a loan to yourself, and you never sold your stock portfolio, which keeps appreciating.
BTW, that's exactly what I did.
Mexico residency is an absolute no brainer. 🇲🇽
I recommend it for all Canadians and Americans, even if you have no intention of moving to Mexico.
If you have a monthly income of at least $4,500 USD or a yearly savings balance of at least $78,000 USD, you qualify.