Need practical advice re: getting out of dollars...

[sendero]

Looking at the current economic mileau, I really feed the need to move a portion of my retirement into something other than dollars, probably Euros.

But while I've had a modicum of investment experience over the years and understand economics fairly well (or so I think :)) - I have no idea how to actually do this.

I have most of my portfolio at Vanguard and spend a while poking around their web site and saw nothing of interest.

Anyone want to offer some needed practical advice?

[Robert Oak]

1. I found two banks

Everbank is a US based bank which allows you to open up a
"bank account" and stash your money into foreign currency...
www.everbank.com

there is currency futures trading, but like all commodities trading
involves a risk of losing more than your initial investment.

Templeton Franklin has foreignn currency mutual funds, but you are
locked into the entire family of mutual funds for about 6 months.

HSBC has an offshore account where you can stash cash in a foreign
currency. I felt they took way too much off the top and for
just "stashing" the money, I felt Evergreen was the best I found.

(It's an Internet bank).

[sendero]

6. Thanks...

.... I will check out Evergreen.

[serryjw]

2. GOLD> GOLD & MORE GOLD

throw in a little silver. When Peal Oil comes NO currency will be worth anything. IMHO

[sendero]

4. Well...

.... I have taken a portion of my cash, and invested it equally in silver rounds and gold bullion coins.

It's not a huge percentage of my savings but it is some, maybe 10% or so.

I assume that taking IRA money and investing it in bullion (not stocks!) is not so easy. Don't you have to let someone else "hold" them for you? I would not be comfortable with that.

[serryjw]

7. Sorry I don't know......

BUT whom is HOLDING your paper investments?

[sendero]

8. That's a valid point...

... but the whole point of gold/silver is if there is a major economic calamity. If there is, nothing you don't have in your posession is very safe...

[serryjw]

9. Gold /silver is traded internationally

there are some very well respected traders.look into it.....

When I was watching our friday PBS line up with WSJ they are still talking about how REITS are a very good investment.
Personally, If I had any money this is the 2 places I would be putting it. Gold will always have value and so will land.....paper? When Peak oil comes all we know is going to be in trouble.


If you want to look in to paper investments; I'd look at anything (industry/products)that will spike as the boomers get older.

[Affirmed]

3. Warren Buffett's Fund

You may want to take a look at Warren Buffett's Fund BRK.A and BRK.B

From what I've heard, Buffett has been shorting the dollar (betting on a decline)big time. I don't know if he shorts the dollar in his funds or if he does it in his own account.

But his Berkshire Hathaway fund is a pretty decent investment if you have a long time horizon. It has mostly "value" stocks, meaning undervalued investments, as he strongly believes in Graham's value investing principles, a belief that has served him very well. I read somewhere that if you had invested 10K with Buffett in the late 1950's, you'd have 50 million by 2001.

Also, Buffett's a progressive on most social issues. He once said that he would never leave a lot of money for his children as he does not believe in the "lottery of the womb."

My guess is that if he voted, he most likely voted for Kerry.

[sendero]

5. I'm a big fan..

... of Buffet's and I will investigate.

However, I'm looking for a pure currency play. I'm done with stocks, probably forever :)

[CAcyclist]

11. If I was going to invest in another country's currency,

I'd invest in Japan 's or China's. I would look for a currency projected to get stronger. The drawback on China is that they currently peg their currency to the dollar, so if they decoupled, it might also swing erratically , and they are currently trying to keep it weak.

I would be wary of the euro because the same corporate influence that has brought the US down here is working to defang workers in Europe so I could see that affecting the currency value.

I like Japan because of its current stability but I haven't researched it much so I could be off-base.

I would never, ever, under any circumstances, ever invest in gold or silver. It not a liquid asset and it was only valuable when currencies were tied to it. None that
I know of are anymore, so it really has little intrinsic value except for industrial uses, medicine and jewelry. The same goes for silver.

I speak as one who made money in the last stock market, who saw the market was going to crash and got out in time. And I predict the housing market is going to crash in one year unless interest rates don't rise, which they definitely will. Not slow down; its going to crash.Oh, one other thing would prevent a crash - if a lot of foreign investors swooped in and started buying up real estate. That's a possibility.

[Robert Oak]

10. he was actually an advisor to Kerry

very outspoken on what is going on...also big on expensing stock
options and other corporate reforms.

Not every billionaire is an asshole.

[Comadreja]

12. I've got a vanguard Roth IRA

It is in short-term treasuries. I hate having my money where it supports the Bush defecit and war machine, but the interest rates are going up. Is there any way I can rollit over to a simple bank account covered by FDIC without big penalties?