Bud. We came over almost 3 years ago when the peso was at 56. At
that time, I expected the dollar to weaken and put everything I had
into pesos. I am continuing to do so since I expect the dollar to
fall further as time goes on. When it hits 30 in a year or two (my
prediction) today's exchange rate of 40 will look pretty good. My
kids have social security accounts and I am dividing their funds with
half to pesos and half remaining in dollars (may increase it to
75:25). I think we are seeing a shift in economic power from the west
to the east and doubt if we will see a reversal. The US has made too
many mistakes and my guess is that the US economy is headed on a one-
way slide down hill. Most US consumer goods are now imported from
overseas and US productivity seems to be losing ground every day.
Things could still change for the better but I doubt if anyone in
power has the will to do what needs to be done. The US policy is to
spend, spend, spend and let our grandchildren worry about it. Problem
is, there won't be much left to worry about by that time. On the
other hand, Asia is just the opposite and is entering a golden era.
That's my novice view of things anyway, for what it's worth--one of
the main reasons we decided to move to the Philippines. Another is
that Filipinos are used to having to struggle and I think they will be
more able to weather the upcoming storm than Americans who will
probably panic once they realize what is happening. I feel safer
here. John. San Carlos City, Pangasinan.
--- In LivingInThePhilippi
wrote:
>
> I'm curious to know how the people now retired in the PI are
handling
> the falling dollar. Are you changing your lifestyle? Are you forced
to
> become more frugal? Were you prepared for this day? And finally,
what
> advice , if any, could you give to those that are planning to retire
in
> the future. I hope anyone affected by this situation is able to keep
> their head above water.
>
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