U.S. Dollar Exchange Risks For The Overseas RetireeWhat's An Expat To Do When The Dollar Tanks?
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When you register for the Live & Invest in Panama Conference, you're also invited to join us (free) for our How To Retire Overseas event preceding it (May 12-13). Plan to arrive in Panama City by May 11. The Panama event is being followed by optional Real Estate Tours, so you should plan to stay on in the country through May 18 or 19, if possible. Is The Special Discounted Hotel Rate Still Available? Yes, the special rate is guaranteed as long as you make your hotel booking by April 30. Can You Avail Of This Special Conference Attendee Hotel Rate If You Arrive Early Or Stay On At The Hotel After The Event Is Over? Yes, as long as you book with the help of Conference Director Stephanie Valencia. What Will The Program Cover? Cost of living, health care, banking, residency, visas, pensionado benefits, real estate purchase, shipping, telecommunications, transportation, taxes, real estate investment opportunities, business opportunities, introductions (to attorneys, bankers, mortgage brokers, insurance agents, etc.), health insurance, medical care, the weather, the bugs, import duties, Spanish study, capital gains, the property tax exemption, investor incentives, renovating an historic building, furnishing your new home, building a house, finding a doctor, expat stories of success...expat tales of horror, financing, sightseeing, bird-watching, tourism investment, monthly living budgets... Full program details here. If you still have questions, don't be shy. We're standing by to take your call. Here's where you can reach us: 1-888-627-8834. ---------- Dear Overseas Opportunity Letter Reader, "Kathleen, here's my question," writes reader MaryAnn S. from the United States: "What happens to the standard of living and quality of life of U.S. expats when our dollar tanks or when China calls their loan? This is vitally important, as the U.S. Federal Reserve is printing worthless money so fast they might as well be using a photocopier. "Our money used to be backed by real gold and silver. Today, less than 10% is backed by anything real or tangible. China is holding the real goods. They aren't stupid. "When I lived in Japan in the early 70s, the exchange rate was 360 yen to the dollar. I lived in the local economy, which meant my mortgage was in yen, as was the electric bill, gas, TV service, etc. "Then the dollar's value plummeted. "By the time I left, the exchange rate was 270 yen to the dollar. I had to discharge my maid and gardener, cancel TV, etc. It was a struggle to make ends meet. I fear this will happen again, very soon. "I see that Panama, Ecuador, and some other countries use the U.S. dollar. What happens to expats living in these countries? If/when the dollar tanks, the ripple effect will impact currencies globally. If I relocate to Mexico, for example, the exchange rate could change dramatically, as it did in Japan. "I feel that we, all of us, no matter where we live, are between a rock and a hard place with respect to the economy right now. "So, bottom line, my question is this: When the dollar tanks, will I be better off in another country or in the United States?" Correspondent Paul Terhorst, 25 years retired overseas, replies: "You're correct, dear reader. If the dollar tanks, expats in some countries will face much higher living costs. Your experience in Japan could repeat itself around the world. "In a worst-case scenario, we could move back to the U.S....or we could move on to a country that ties its currency to the dollar--to Thailand or Oman, for example...or to Ecuador or Panama, the two countries you name that use the dollar itself. "Or we could move to a country that's in even worse shape than the U.S. There are bound to be a few... "Since the beginning of the current crisis, the dollar has strengthened, and it looks likely to stay strong for now. The Chinese want a strong dollar to safeguard their US$2 trillion investment in dollar bonds. "If you had a crystal ball, you'd sell dollars at their peak--whenever that turns out to be--and buy foreign currencies. I've been singularly unsuccessful in predicting currency movements, but you might have more luck. "Meantime, again, in this regard, countries that tie their currencies to the dollar or that use the dollar itself could be a good place to focus your search." Kathleen Peddicord P.S. Why are exchange rates where they are? Read more from Paul on the implications of global currency ups and downs for the retiree overseas in the next issue of the Overseas Retirement Letter, out May 15. Paul's insights may surprise you. ---------- Kick Start Your Morning Without Feeling Nervous or Jittery Rain Forest Herb Gives You Lasting Energy And More Brain Power Throughout the Day Dr. Sears brings together two powerful nutrients to create one powerful new formula. Adding just a spoonful of Choline Punch to your favorite drink gives you: * Mental clarity and alertness that lasts the whole day... * Stronger memory and power of recall... * Better physical coordination and a more stable gait... In the fall of 2006, Dr. Sears trekked through the Amazon jungles of Peru and was introduced to a powerful rain forest herb. 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