Solid, Safe, And Private--The Two Smartest Things You Could Do With Your Money Today
June 20, 2011, Panama City, Panama: The two offshore investments that an American need not report to Uncle Sam are foreign real estate and precious metals.
Dear Live and Invest Overseas Reader,
As I said, yesterday, it can seem these days that the world has lost its mind.
If you're starting to feel like you're being closed in from all sides, hold on. Here is some good news:
You know that, as an American, wherever in the world you go, Uncle Sam requires you to report on your worldwide income and assets. But there are a couple of exceptions...investments that the government doesn't require you to report. No questions asked. They're simply not interested.
The first is foreign real estate.
You can own a second home (for investment or personal use) in a foreign country, and you are not obliged to inform the U.S. tax authorities.
And, while new laws and information-exchange treaties may make it easier for the government to get at your bank account overseas, it's a heck of a lot harder for someone (assuming they can track it down in the first place) to physically remove your apartment in Medellin or your riverfront plot in Cayo, Belize.
The beauty of this is that you don't have to be super-rich to take up the idea of buying real estate overseas to protect your wealth. Opportunities to buy land, houses, and apartments, for both investment and personal use, exist at all price levels.
The second "under-the-radar" offshore opportunity is in the area of precious metals. This one may surprise you, but, the truth is, the U.S. government doesn't consider precious metals and money equal.
That is, you can buy gold, silver, platinum...or any other precious metal overseas...and, again, not have to report it to the IRS. With devaluing currencies the world over, gold is one of the smartest investments you can make right now and one of the safest assets you can hold long-term.
This year, gold has hit an all-time high. It stands as of this writing at over US$1,500 an ounce...a growth rate of over 500% in the past decade and nearly 25% over the past year alone. With the dollar's future uncertain and world crises popping up what seems like every week, investors continue to choose gold as a safe haven.
Speculation aside, gold has one big advantage over paper money: It isn't paper. Paper money comes, paper money goes, and, as Voltaire put it, "Paper money eventually returns to its intrinsic value--zero."
Gold has represented real value for thousands of years.
Both these important strategies--buying foreign real estate and investing in gold--will be explored in great detail, including specific current recommendations for the markets we believe offer the best potential, at our Emergency Offshore Summit taking place in Panama City Sept. 14-16.
In fact, we've invited the savviest gold and precious metals expert we know, Egon Von Greyerz, Founder and Managing Partner of Matterhorn Asset Management AG and Gold Switzerland, one of the largest independent asset management groups in Switzerland, to walk participants at the event through the current state of the gold market, sharing his projections and predictions on where it's going and how to act to take best advantage of the opportunities the current global situation is creating.
As Egon puts it:
"Clueless governments still don't understand that their ruinous actions have created a credit-infested and bankrupt world. They will continue to prescribe the same remedy that caused the problem in the first place, namely more credit and more printed money..."
We'll pick up the discussion with Egon here in September...
P.S. Of course, the savviest real estate investment expert we know will be there, too. Lief Simon will share details of the four best real estate investment plays he's identified worldwide right now.Continue Reading:
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Kathleen Peddicord is the founder of the Live and Invest Overseas publishing group. With more than 25 years experience covering this beat, Kathleen reports daily on current opportunities for living, retiring, and investing overseas in her free e-letter.
Her book, How To Retire Overseas—Everything You Need To Know To Live Well Abroad For Less, was recently released by Penguin Books.
Read more here.
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