Pensions and currency exchange rates

[Jack Peterson]

2 minutes ago, Gary D said:

When we were looking for our Philippines tickets we were seeing Cathey Pacific for about £420 return

 That is why I said Local Travel is cheap enough, To keep in the Spirit of the Topic Gary  By Local of course, I mean within the Philippines, I know International Travel can be a minefield 

[Arizona Kid]

On 6/10/2019 at 4:47 PM, hk blues said:

50 is also my "cut-off" point - that said, I'm not sure what I will do if it drops to that! I suppose we then readjust our long-term calculations but I doubt I'd actually have to (or be able to) adjust my spending habits much if it happened.  

If a few pesos difference to your currency matters that much you might not be ready to make the move, or live here. Better to save up a reserve amount just in case. You might be surprised on how easy it is to adjust. I did many times before I started receiving SSN.   

[hk blues]

3 hours ago, Arizona Kid said:

If a few pesos difference to your currency matters that much you might not be ready to make the move, or live here. Better to save up a reserve amount just in case. You might be surprised on how easy it is to adjust. I did many times before I started receiving SSN.   

A few pesos won't make much difference - but we're talking 20 pesos and a drop of 30% - not insignificant and an amount that most would say would make a material difference to lifestyle. 

I have a reserve - and that also would take the same 30% hit! 

[Dave Hounddriver]

4 hours ago, Arizona Kid said:

If a few pesos difference to your currency

And yet, a few MEXICAN pesos difference and the entire US stock exchange thought the sky was falling.  Good thing that tarrif did not go through or we'd be saying . . . "Back atcha"

[robert k]

1 hour ago, hk blues said:

A few pesos won't make much difference - but we're talking 20 pesos and a drop of 30% - not insignificant and an amount that most would say would make a material difference to lifestyle. 

I have a reserve - and that also would take the same 30% hit! 

Unless you converted your reserve to pesos.

[robert k]

49 minutes ago, Dave Hounddriver said:

And yet, a few MEXICAN pesos difference and the entire US stock exchange thought the sky was falling.  Good thing that tarrif did not go through or we'd be saying . . . "Back atcha"

The stock exchange is a bunch of old ladies, anything puts the wind up them. Then too, money is made whichever way the market moves. People go online to talk stocks up or down. Look at Brexit? The pound dropped for something that wasn't supposed to happen for 2 years and still hasn't happened?

[hk blues]

3 minutes ago, robert k said:

Unless you converted your reserve to pesos.

Therein lies the problem - the minute I exchange GBP to Pesos I take the hit on the devalued GBP.  

To put things in perspective though, we are talking hypothetically rather in reality i.e. what impact an exchange rate of 50 pesos would mean to us. 

[robert k]

17 minutes ago, hk blues said:

Therein lies the problem - the minute I exchange GBP to Pesos I take the hit on the devalued GBP.  

To put things in perspective though, we are talking hypothetically rather in reality i.e. what impact an exchange rate of 50 pesos would mean to us. 

I wasn't giving financial advise, just raising a possible course of action. In your place I would be monitoring things and I would strike while I thought the iron was hot. And I would probably miss the best, either way but most likely, good enough. The fear of possible loss of future gain is a tough thing to deal with. You could hedge your bets, either way.

[stevewool]

5 hours ago, robert k said:

The stock exchange is a bunch of old ladies, anything puts the wind up them. Then too, money is made whichever way the market moves. People go online to talk stocks up or down. Look at Brexit? The pound dropped for something that wasn't supposed to happen for 2 years and still hasn't happened?

Shhhhhhhhhhhhhhhhhhh

[robert k]

2 hours ago, stevewool said:

Shhhhhhhhhhhhhhhhhhh

I don't think it can remain secret much longer Steve. I thought it was garbage about 2.5 years ago, I think it will be more of the same garbage soon. But if that's the way the EU friends are going to treat you, I would make some enemies quick! At least enemies are more honest.