With the exchange rate currently as crazy as it is, I feel like if there was ever a time to send over my US savings, it’s now. I live in Japan and plan to be here the rest of my life.
I’ve got some people telling me not to send over everything and to keep half or more in the US, but no one has been able to really articulate a good reason why. I guess there is a chance the yen *continues* to lower in value vs the dollar, but it could just as easily start going the other way any day, right?
Am I a dummy? Please enlighten me if so.
5 comments
If you don’t need the money right now for something, you could invest it all in a US brokerage instead. As an American, you won’t have much luck with many Japanese brokerage choices anyway.
No one knows, just do what you feel you won’t regret.
Personally, if it were me and I were dead sure I will transfer all of it sooner or later, I’d definitely do it, at least half, but I’m not better informed than you are.
You may not want to lock your asset in yen if you’re at an age where working outside Japan can be a possibility. For example if you’re in your 30s and would prefer to work in Singapore or somewhere if the economy tumbles, or if you have a child and they don’t do well within the Japanese educational system.
Finance 101, never put all your eggs in one basket. Especially if there are foreseeable uncertainties.
You won’t know when the tables will turn nor if immigration will renew your visa every time.
Unless you hold PR or citizenship, I would say put only half but do whatever you like since it’s your money and risk
i’m in the exact same boat.
i also figure that if i do wire it all here and ever need USD in the future (the unlikely chance my kids would wanna study in the states), i could always just wire it back.
the exchange rate right now is so good i wonder if it’s better than letting it sit in my us bank with the higher interest rates.