Euro Account

-- Doug

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Thank for the tip.

Bye John

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Is it possible to buy an annuity that pays in Euros?

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Has this warped into a discussion of how to "buy high and sell low"? Or perhaps a primer on how to chase hot markets?

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This Euro thing is beginning to remind me of the story of the shoe shine boy who, back in the roaring 1920s, offered Ambassador Kennedy stock tips.

-HW "Skip" Weldon Columbia, SC

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It's certainly getting close. I was going to ask the original poster why he was interested in Euros, but then I decided just saving up to send money to his dear old grandma in the old country.

He couldn't possibly be trying to catch last year's trend.

-- Doug

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That is true. Better than worthless dollar :-)

CU John

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In our case, we have an account in Euros which used to be in Escudos because it was the easiest way to move money back and forth between the US and the Azores (which we visit frequently and which has, or had, confiscatory taxes on money one took out of the country). The bank has both US and Portuguese branches, and we can deposit in one, and withdraw in the other country for a rather small fee.

--ron

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What is the name of the bank that you use for that?

Banco Totta e Acores

Business cards are attached for one US and one Pt branch, but they have other Pt branches.

--ron

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I'm a client, and I'm suspicious about the rates I'm getting on the currency trades Everbank does when you go into and out of non-US currency. I don't currently understand a sure way to check whether the spreads their representative says they are giving are accurate. The trade happens on the spot market at whatever time of day they decide to do it. One can look at historical rates on Oanda day by day (I forget exactly what kind of rate rate (e. g., bid, ask, or a daily extremum of one of those), but that doesn't tell you what the market rates were at the time of day when Everbank executed the trade that determines the rate the customer gets. I have been in three currencies for about six months and my balance as expressed in USD is still below what I put in. That is, the interest earned has not yet made up for the expense of trading.

An alternative to concider is ETFs or ETNs (exchange traded notes) that track currency exchange rates. Also, there are those that proxy for gold and for natural gas. I'd argue that natural gas is the real money. I wouldn't do it for the short term, however, because of volatility. Maybe for some medium term (equities being worth considering for long-term investments).

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Bye! John

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Have brought up various times in this forum how Everbank's hidden commissions going into and out of foreign currency take forever to compensate by interest. They used to have explicit % commission, but last I checked it is not broken out. Sizeable bank accounts seem a silly strategy anyway... just normal prudent investing should have you with stakes in various foreign currencies in terms of stocks and bonds. You mention natural gas as currency substitute, and commodities such as that have become a common slice of everyday portfolios.

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Buy a bond of a European government (Germany, France etc.) that is a member of the Euro.

Or a bond fund that invests in Euro bonds and does not hedge currency.

Or a Euro bond ETF (note a 'eurobond' is something completely different than a bond which pays in Euros).

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Alright, one *could* invest in bonds. One might want to do this throughout one's earning years and retirement in the case where it's desired to leave a legacy. But let's suppose you're Tim and Cindie Travis

. You don't have any kids to leave a legacy to. But (let's imagine) you do have 401k's sitting there from prior to your commitment to your rambling life style. Is there a way to buy a mix of annuities (which return the principal to you as income as well) that are hedged against currency imbalances over future years?

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