Thanks for the detailed reply. If America got a taste of real poverty in a country without such welfare safety nets maybe their views and habits would change but until then that is just how things are.

Regarding Ecuador you can put your money in a regular bank or a "cooperativa" which is like a credit union. The Banks only pay about 4-6.5% interest and cooperativas pay up to about 10%.

The KEY is, and this is super important is that you go with a cooperativa that is insured with a totally legit tried and true insurance called COSEDE. It's like the FDIC insured deposits n the US. The banks and cooperatives actually pay each month to have this insurance. This is no joke.

This is Ecuador you don't want to screw around. The insurance is up to 32,000 dollars not 250k like in the US; so if you have 100k, you want to spread it around. Secondly you can't just put your money there and leave the country. You have to get an investors visa which means you have to put at least 25k into the bank (or cooperative) or buy land at that value. You have to stay in the country 9 of 12 month's for the first two years. Like you're there more than to just take advantage of the high interest being offered. After the 2 years is up you can leave your money there and just return to Ecuador once every 5 years, even if it's for one day to get your passport stamped. But you'll forever have access to their high interest and will have permanent residency there.

This is why I had to kind of stop traveling and stay in Ecuador more or less two full years. But it's a very nice place to live. I'd recommend Cuenca if you like a more city atmosphere, or Vilcabamba if you like a small town with perfect weather. Also the "coops" will deposit your interest direct into an account linked to an ATM card every month if you wish, which I find pretty cool. That's what I have going right now. It's like my social security check comes once a month, direct deposit, and I'm only 34.

I use the biggest Cooperative "JEP" They pay me 8.5% and they are all over the country, I've also Used Alianza De Valle pays about 9% and Pablo Munez Vega pays about 9%. The last two are based out of Quito and all are in the top 20 biggest safest cooperatives in the country. Below is a link to the biggest, safest, most important coops in Ecuador. I wouldn't stray from those if you decide to invest. Don't go for anything above 10% interest that's how people get burned. If it's too good to be true it probably is.

On a side note. I'm new here on steemit less than two month's I put together this 6 part culture shock series. It took me hours and hours to do so. I've earned so far two new followers and about 5 dollars. It's quite discouraging. What do you think about helping a fellow steemer out and resteeming this article or one of my culture shock articles you like. That would be super nice of you. I see you got about 1000 followers. It would probably make all this time and effort worth while. I'd really appreciate it. Thanks in advance. -Dan "World Travel Pro"

http://sinmiedosec.com/cooperativas-mas-importantes-de-ecuador/