I don't have first-hand knowledge of all the topics Trail-Dude has
touched on, but thought I would offer a few thoughts...

traildude4u[at]yahoo.com wrote:
- quote -

<<< It might be fair to say that if the US economy gets a cold, a lot
of European economies will get a bad case of flu or pneumonia. Currency
fluctuations may happen, particularly with oil prices bouncing about,
but I haven't seen data that make a really strong case that recession
necessarily makes them worse. Others may be able to refer you to
authenticated sources on this issue.

- quote -

<<<As one who rode through the gold-bug fever of the early 1980s, I
would voice the personal (possibly not strongly "qualified") intuition
that gold is NOT an "investment". It is largely a speculation that I
really doubt any ethical financial advisor would suggest for the
portfolio of a retiree. Gold coins generally have a significant
commission cranked in, and fluidity has been less than perfect in the
past. US gold coins suffer from a significant invasion of counterfeits
-- real gold, but modern castings. Gold stocks come -- and go under --
with fluctuations in costs of ore extraction. And gold futures are an
outright gambler's game. Not smart, unless you have money to burn.

- quote -

Having myself had accounts with a German bank (quite some years ago), I
know that if you hold the account in dollars you will pay in dollars --
and in marks, then marks, etc. If you make a transfer between Dollars
and Euros in either direction, you're going to pay a currency trader a
commission, whether through your bank or some other financial
institution. And it's going to be sizeable. I've heard numbers like +/-
5% spread and higher.

Other banking fees in Europe also tend to be higher, it's true. As an
exercise to refine your thinking about these matters, I suggest you go
to a local office of CrediteSuisse or DeutcheBank and ask for a listing
of their customer fees. Take the list to an assistant manager of a large
US bank and flat-out ask, "how can I set up my financial affairs to
minimize or reduce these categories of international banking fees... and
what are your bank's equivalents?"

- quote -

you're going to find a US bank that is comfortable with taking your
paper across an international border. Costs of prosecuting a default
are just too high. However, you might talk to a loan officer in a bank
with international interests and offices, such as Bank of America or Chase.

Note: I am not a financial professional. Just another near-retiree who
has lived abroad.

Regards,

R.A. Lawhern, Ph.D.

Hello,
I am a US citizen who will be moving to Europe in 4 years, at age 56.
I will have a pension, but I will also have the right to work, if
needed, but the job market in my destination country is not that good.
My concern is the fluctuations between the dollar and the euro. Also,
I am concerned that the US may fall into a recession.

I was wondering if putting some of my savings, maybe 10-20%, into some
sort of gold investment is a good idea, not to make money, but to act
as a 'security blanket' to ride out any economic glitches or even
calamity that may occur. If so, can someone make a recommendation as
to the type of gold investment - such actual coins, stocks, futures,
etc.

Two other questions:

I am concerned about the excessive fees I am going to encounter with
the banking systems - is there a good way of minimizing these fees -
primarily due to recieving a pension in dollars but withdrawing in
euros. Anyone have any advice how to handle that situation?

Finally, I want to purchase a home in Europe now, as a vacation home,
and I will eventually use it as my primary residence. I would like to
get a mortgage here in the US in dollars so that my mortgage payments
will not be subject to the currency fluctuations. Anyone know if it is
possible to get a US-based mortgage on a foreign property?

Thanks.