Given the ever weaker US dollar, where would be the best place to retire and maximize my savings?
Answer:
Belize. It is an English Speaking country in Central America. Originally, Belize was an English colony founded for harvesting lumber out of the lush, tropical rain forests of the coast. Slaves were imported to cut wood, which was then sent to the sugar growing colonies to cook the sugar used to make rum. The great result of this is that everyone speaks English!
Also, it has the highest education rate of any American nation (even higher than the U.S.!) As a British protectorate, all citizens are eligible for "free schooling" into college. They take advantage of that.
Additionally, their "dollar" is pegged to the US dollar. So as the value of the US dollar rises, theirs does. As the value of a US dollar drops, theirs does. This means that you preserve an equal buying power to being in the US. (Belize dollars exchange at a perfect 2:1 ratio.) Two Belize dollars equals One US dollar--and that is set by law.
Finally, they love American's. Belize has few factories, little manufacturing, and their major export is "tourism." American's bring them those precious dollars, and they are greatful for them. There is a large community of "ex-pats" (which means Americans who have retired there, or who have moved their to conduct their business.)
It has a great climate all year; rarely over 80 degrees, never under 40 degrees.
The area is fun! There are limitless activities, wonderful old ruins, beautifully modern venues, and good, happy, well-educated people.
I've included one link, but there are lots of other's that extol the virtues of living in Belize. (Belize is just South of the Mexican resort town of Cancun, on the Carribean coast.)
Buenos Aries or Mexico
Argentina... it's like getting a 30 percent raise in your income.
Eastern Europe, but you know, you _can_ invest in foreign securities and hedge against a weakening US currency.
Your pension and/or retirement savings will probably continue to be paid in dollars. If you move to a foreign country where the foreing currency is not pegged to the dollar, you will be exposing yourself to significant currency exchange rate risk. This is because you will be receiving income in dollars, but paying expenses in another currency. If that currency appreciates, you will be in deep doo-doo.
Nonetheless, there are some significant advantages of living in poorer countries. Labor is often cheaper there, so the costs of restaurants, health care, household help, food, and rent are often cheaper. The quality may not be as good, however, so look at the situation very carefully.
Mexico,11 pesos per U.S.D. and it`s close enough to visit back home.Also less taxes than canada.
a weak US dollar means you must stay in the US. weaker dollar is good for export business but bad for US consumers going abroad. It makes no difference where in the US you go (at least based on a weak US dollar) since the whole US uses the US $.
New Delhi, India.
It's very cosmopolitan, great history, nice places to stay, and comparatively cheap. (buying Houses is not cheap, unless u want to live peacefully away from downtown)
Vote for Ron Paul. Then the answer will be America.
Panama, Mexico, and most of South America has cheap cost of living in dollars. However Medicare will not cover you outside the US and unless you speak Spanish you may find it difficult. Their is a large variation across the US in cost of living so you may find someplace here that you can live on your income. Here is a site to search within the US.
http://cgi.money.cnn.com/tools/bestplace...
i suggest you saudi arabia or UAE
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