Should I Invest Before or After I Japa?
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Question
I have dollars but I want to earn some interest rather than just keeping it in a dorm account. What are my options?Â
Answer
What is the purpose of the funds in question? If it is money that you would be needing in the short-term, then you may have to sacrifice returns in favour of liquidity. Liquidity means how quickly you can convert an investment into cash.Â
You could explore dollar savings either with a commercial bank or look for a low-risk dollar investment with an asset management firm.Â
Question
I intend relocating to the US in 2 or 3 years time. Do I invest or just save? If I invest, what becomes of my dollar investments when it is time to relocate?
Answer
I assume you have met all the financial requirements for your visa application or stay abroad. In that case, you can decide to save in foreign currency and you can also invest.
The world is a global village. You can operate many investment apps from anywhere in the world. You can find out from the fintechs the procedure for changing your user details when you relocate, as well as if dollar funding options are available.Â
If they are not, then it would mean liquidating those investments at the point at which you are about to relocate.Â
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