Currency Exchange Rates And The Cost Of Retiring Overseas

“Kathleen, well, you are certainly right about exchange rates!

“When I moved to Malaysia almost 10 years ago, the exchange rate was 3.8 per U.S. dollar. The last few years it has been below 3.0 several times. Now, the drop in the yen has pushed it up to about 3.1. My pension has not gone up 25% to compensate for the drop either, lol. So I’m feeling the pinch. However, this is coupled with Malaysia’s high inflation, for a BIG double whammy! It’s time to move to a cheaper place.

“I will probably move back to Texas temporarily in a few months. From there it’s an easy hop through Mexico City to explore Panama, Colombia, and Ecuador. Those are my targets now.

“I know your conference in San Antonio later this year would be the place to research those options, but I’ll probably have to miss it. Sorry!

“One more thing: It’s time to remind folks about filing a TD F 90-22.1 and IRS 8938!”

–Frank B., Kuala Lumpur

Thanks for the reminder to remind. See above from Lief Simon.

Continue Reading: FATCA And IRS Reporting Requirements

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