Our dollar is sliding into oblivion ! Any suggestions on what to do before the dollar is history ! Is it still worth funding ira's ,401k's? what about those who are going to retire with worthless dollars! Man ! We are in a mess!
2007-11-29 05:16:43 · 5 answers · asked by case v 3 in Business & Finance ➔ Personal Finance
If you are living is the USA, you are being paid in dollars. If you are really really really scared of the dollar losing ALL its value, move somewhere else, preferrably Europe since the Euro is pretty strong.
As far as the 401k's being worthless ... if you want to avoid dollars, buy international stocks thru your 401k or other investment tools, they seem to be going up while the dollar is going down. Then when you withdraw those funds, you'll get "the benefit" of the dollar having gone down.
PS. I don't think the dollar is going ALL THE WAY down, so calm down.
2007-11-29 05:23:15 · answer #1 · answered by Troy Colts Rock 3 · 1⤊ 0⤋
Wow, check your economics. A weak dollar has about as many advantages that a strong dollar has.
Some good things about a weak dollar
1) More export dollars, Our stuff is cheaper than it used to be
2) It is cheaper to travel to the U.S. causes influx of foreign travel money
3) Draws more foreign investment. Investers buy into business at lower rate. (Dubai 7.5 billion to CitiBank)
4) Causes things imported to be made in the U.S. cheaper here now than importing.
5) Our international investments overnight all of a sudden are worth more (in dollars)
Some bad things
1) Can cause inflation, thus weakening the dollar even more. However if it is overvalued it might be a good thing.
2) More expensive for us to travel abroad.
3) More expensive for us to import products.
4) More expensive to buy into foreign investments.
All in all, It is always a good time to invest, it just depends where you are investing into. For this year international investments were phenominal. Next year I predict small/mid cap to grow tremendously. Stay out of the financial markets till 2nd quarter next year, then buy low.
2007-11-29 14:18:55 · answer #2 · answered by Ryan M 3 · 1⤊ 1⤋
So did some store somewhere refuse to take your money? In the US $1 = $1. Stop freaking out.
Were you even alive in the 80s? We haven’t reached anything near that yet.
2007-11-29 13:19:57 · answer #3 · answered by Anonymous · 1⤊ 1⤋
Unless you invested in foreign markets, the world value of the dollar has little bearing on it's value in the USA
Good luck
2007-11-29 13:25:11 · answer #4 · answered by Jan Luv 7 · 1⤊ 1⤋
i just answered this question and will stick with my original answer!!!
2007-12-03 09:11:27 · answer #5 · answered by mister ed 7 · 0⤊ 0⤋