Should
I invest in my new country or my old country?
What should I do with
my savings from working overseas?
Unless you
plan on spending a long time overseas, invest in your
home country.
There will
be times when you might become aware of unusual or
special opportunities for investment in your new
country. But you might want to stay away from them
unless you have lived there for several years and have a
strong understanding of the financial and legal system
where you are. Most of us don't have that
understanding, and in many countries foreigners are
often fair game for a good fleecing.
Long-Term
Investing
If you plan
to live in a certain country for the rest of your life
and perhaps to retire there, then, and only then, should
you consider investing in that country. And first, be
sure to listen to the old "war stories" of people who
have gone down that path before. You work hard for your
money, be careful not to blow it on something you have
not researched carefully.
I have
invested in Thailand - where my home has been for the
last six years - and I intend to retire here. My reason
is that the Thai Baht seems to be growing stronger and
the US$ seems to be getting weaker. As all my
investments are in the USA, a weak dollar and strong
baht means I will be poorer when I get very old. I need
some balance in my investment portfolio. That's a good
reason. Getting a "hot" tip is not.
The
Discussion Boards
I read
people talking about investments on discussion boards -
and they often, sadly, have no idea what they are
talking about. I have an MBA, have invested carefully
for thirty years in real estate and in the stock market,
yet often hear 21-year-olds tell me which way the US
dollar is going to move against the Korean won. Flip a
coin - even experienced traders with years of Wall
Street experience rarely really know. Get your
investment advice from your own personal research, pay a
professional for good research, or don't invest. Don't
get your investment advice from anonymous posters on the
Internet. Just my opinion.
