Given the way the dollar has been, our country has been, our economy has been, it seems that keeping one's saving in dollar format is stupid.
It might make more sense to put one's saving, in part in the currency of anothe country which is running itself better.
How can this best be done.
Open to any suggestions. I don't really favor buying gold per se. Could one purchase equities that might do this?
Any thoughts appreciated or sites for research.|||Two ways I know of:
There are a series of stock ticker symbols which are essentially 100 of some other unit of currency (FXE for euros, FXC for canadian dollars, %26amp;c) which pay a dividend based on the prevailing interest rates for those currencies. If you have a brokerage account already, buying those shares is like buying the other currency. Go to www.currencyshares.com for more info.
Also, Everbank (www.everbank.com) offers CDs and money market accounts in alternate currencies, or even combinations of currencies. Opening an account there would be another way to do it.
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