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    • Countries

      Top Destinations:

      Whether you’re looking for fun and sun, a peaceful retirement, or the chance to earn some extra income, you’ve got a real world of opportunity open to you… In short, we’ve done our best to narrow down your best options, but only you can decide the right country for you.

      • Spain
      • Portugal
      • Panama
      • Belize
      • Colombia
      • Cyprus
      • Mexico
      • France
      • Montenegro
      • Browse All Countries

      Best For:

      • The Best Places To Retire
      • Health Care Abroad
      • Cost Of Living
      • Investing in Real Estate
      • Establishing Residency
      • Gun Laws In The World
      • English-Speaking Countries
      • Safest Places For Retirement
      • Best Places In Latin America
    • Budgets

      How Much Will It Cost You To Live Overseas?

      The only honest answer is, we have no idea. And neither does anyone else. The only one who can answer that question is you. Here’s the most important thing to understand about budgeting your new life overseas…

      Super Cheap

      • Chitré, Panama
      • Santa Marta, Colombia
      • Phuket, Thailand
      • Dumaguete, The Philippines

      Cheap

      • Medellin, Colombia
      • Boquete, Panama
      • Kyrenia, Cyprus
      • Hua Hin, Thailand
      • The Algarve, Portugal

      Affordable

      • Valencia, Spain
      • Cascais, Portugal
      • Las Terrenas, The DR
      • Pisa, Italy
      • La Rochelle, France
      • Mazatlán, Mexico

      Luxury

      • Ambergris Caye, Belize
      • Kotor, Montenegro
      • The Panama City Beaches
      • Paris, France
    • Resources

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      • Investing

      Follow Us:

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      Join our Weekly Newsletter
      Overseas Property Alert

      Sign up for our weekly newsletter to receive expert insights on the best international real estate investment opportunities.






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        • Discover tips and strategies used by global property investing veterans

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        Home How to

        Hedging And Controlling Exchange Rate Risk In Retirement

        3 Strategies For Controlling Currency Risk When Retiring Overseas

        by Kathleen Peddicord
        May 27, 2021
        in How to, Retirement/Living
        0 0
        Harbour at Stomorska village on the island of Solta, Croatia.

        Alamy/Roy Conchie

        What if the country where you’d like to retire uses a currency other than the U.S. dollar?

        That is, how big a worry is currency risk when retiring overseas?

        Concern over currency exchange fluctuations can be valid. A retiree living in a foreign country on a fixed income could see his local spending power eroded by a depreciating U.S. dollar.

        You should be aware of this concern, but you shouldn’t let it keep you from making a move to a country where you want to live. You can mitigate currency risk.

        1. Lock In Your Housing Expense At Today’s Rate Of Exchange

        Buying Real Estate In A Foreign CountryOne strategy to protect yourself would be to buy a place of your own to live in the country where you want to be, paying in full up front, when you make the move or even in advance of a planned move, to take advantage of a favorable rate of exchange.

        Housing cost—a mortgage or rent—is generally the single biggest expense in any budget. If you own your own home (house, apartment, what have you), you eliminate the risk of unfavorable currency fluctuations for that part of your monthly expenses.

        Taking this approach, you could buy your retirement home in Portugal (our pick in 2021 for the best place in the world to live or retire overseas), for example, today. While the U.S. dollar is weaker today than it was last year, it has been much weaker within the last 10 years… and expectations are for a stronger euro over the next 12 to 18 months.

        Buy today and you’re locking in your housing cost at today’s exchange rate. A 200,000-euro condo on the beach in the Algarve would cost you close to just US$240,000 at the current rate of exchange. Housing covered, you’re largely insulated against negative currency fluctuations. The currency moving against you would affect only your day-to-day living costs, costs you can control at least to some extent.

        Of course, while the expectation is for the euro to strengthen in the short-term, it could go the other way as well. This means it could be better to wait to buy in Europe. On the other hand, while you’re waiting, property prices will likely appreciate. The point is to lock in your housing cost at today’s exchange rate.

        Over the course of a 20-plus-year retirement, you should expect to experience a slow roller coaster of exchange rates.

        2. Earn Income In The Local Currency

        a pile of dollars and eurosHere’s another strategy for reducing your currency risk in retirement—invest locally to earn income in the same currency as your expenses. This could be as simple as buying a local CD or more complicated—buying a rental property, for example, or starting a small business. Whatever you do to earn local currency, don’t move all of your assets to your new country. Hedge things by keeping some of your investments in your home currency… or in another currency in addition to your new one.

        A colleague who lived in Uruguay while the U.S. dollar-Uruguayan peso exchange rate was favorable did well on his monthly pension. When the U.S. dollar fell versus the Uruguayan peso, he used local peso income from CDs he had bought to pay local expenses. Having the local investments allowed him to supplement his pension check when he needed to.

        3. Don’t Tie Yourself To Any One Currency

        Trip planning with map
        iStock/Rawpixel

        Here’s one more option for hedging your pension check against currency fluctuations: Don’t put down permanent roots anywhere. Rent your residence wherever you decide to live, then pack up and head to a lower-cost-of-living country that appeals when the local currency turns against you.

        This kind of perpetual traveling can be done short- or long-term. You could make that move to Portugal today and stick around until the euro gets too expensive for you (if that happens again in our lifetime). Then you could shift your retirement to another country with a more attractive exchange rate.

        The bottom line is that you can take steps to take control of your cost of living in another currency. Don’t let exchange rate fears keep you from acting on opportunities for spending time, retiring, or taking investment positions overseas.

        Sincerely,
        Kathleen Peddicord
        Kathleen Peddicord
        Founding Publisher, Overseas Opportunity Letter

        Tags: 'retire'currency riskexchange rate riskexpat blogexpat retireePortugalretire abroadretire overseasretirement ageretirement planningUruguay
        Share83Tweet52
        Kathleen Peddicord

        Kathleen Peddicord

        Kathleen Peddicord has reported on opportunities for Americans to live, retire, and do business overseas for 40 years. She has traveled to more than 75 countries, invested in real estate in 24, established businesses in 7, renovated and built properties in 6, and educated her children in 5.

        Kathleen has moved children, staff, enterprises, household goods, and pets from the east coast of the United States to Waterford, Ireland, then to Paris, France, and finally to Panama City, Panama, where she has based her Live And Invest Overseas business. Peddicord and her husband, Lief Simon, now divide their time between Panama and Paris.

        Peddicord was a partner with Agora Publishing’s International Living group for 23 years. She opened, staffed, and operated International Living publishing and real estate marketing offices in Waterford, Ireland; Panama City, Panama; Granada, Nicaragua; Roatan, Honduras; San Miguel de Allende, Mexico; Quito, Ecuador; and Paris, France. Peddicord launched Live And Invest Overseas group in 2008 and has built it into a successful multimillion-dollar business. Today, she shares her firsthand experience of expat life with more than 500,000 readers of her publications, including Overseas Opportunity Letter and Overseas Living Letter.

        Kathleen has been featured often in The New York Times, MSNBC, AARP, CNN, Bloomberg, CNBC, and more and writes monthly about expat matters, international real estate, and offshore diversification for Forbes and U.S. News.

        Kathleen has written several books including the memoirs “At Home In Ireland” and “At Home At Los Islotes” and her latest title “At Home Abroad,” all published by Lahardan Books. Her best-selling "How To Retire Overseas: Everything You Need To Know To Live Well (For Less) Abroad” was published by Penguin Random House in 2018 and her “Buying Real Estate Overseas For Cash Flow (And A Better Life)” was published by Wiley in August 2020.

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          Top Countries

          • Spain
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          • Belize
          • Colombia
          • Cyprus
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          • Montenegro

          Best For:

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          BROWSE ALL COUNTRIES

          Budgets

          How Much Will It Cost
          To Live Overseas?

          Super Cheap

          • Chitré, Panama
          • Santa Marta, Colombia
          • Phuket, Thailand
          • Dumaguete, The Philippines

          Cheap

          • Medellin, Colombia
          • Boquete, Panama
          • Kyrenia, Cyprus
          • Hua Hin, Thailand
          • The Algarve, Portugal

          Affordable

          • Valencia, Spain
          • Cascais, Portugal
          • Las Terrenas, The DR
          • Pisa, Italy
          • La Rochelle, France
          • Mazatlán, Mexico

          Luxury

          • Ambergris Caye, Belize
          • Kotor, Montenegro
          • The Panama City Beaches
          • Paris, France

          Resources

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