Is it a good idea to put money in banks in foreign countries to take advantage of the higher rates?

Good question.

No, putting money in foreign banks buying their CDs is not going to lead to good results. First, you are going to have a loss on the exchange rate when you move from currency 1 to currency 2. Second, if the bank is offering higher rates of return on their CDs this is often because the domestic currency has much higher rates of inflation.

A much better plan is to purchase limited partnership interests in multifamily apartment communities or to purchase corporate income bonds of privately held companies that pay higher rates.

If you would like to learn more about passive income, I offer a completely free investor training course.

Just register at the link below:

https://www.meetup.com/benjamin-z-millers-investor-networking-group/

I hope that helps and good luck with your investing!

Benjamin Z Miller
www.benjaminzmiller.com