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Why not use a S. Fr. CD? They are available at Everbank. BUT: you need to invest $10K min. and they currently pay less than 1% APY for a 12-month CD. Also, unlike US CDs that offer 100% principal safety, foreign currency CDs carry an important risk: Currency Exchange risk. Are you willing to take that risk and do you understand it? The S. Fr. has already appreciated 80% against the $ in the past 7 years, so are you sure this trend will continue in the foreseeable future? Because a brutal trend reversal could lose you a bundle.
I have a good chunk of cash invested in Europe but: 1) I am earning a 4% guaranteed APY on that money (and have been since 1997). 2) This stash was built slowly in 1997-2003 when the dollar was still relatively strong. 3) I don't currently add any money to the stash because I believe that we are close to a $ bottom. I travel to Europe a lot and based on purchasing power parity I am convinced that the dollar is way undervalued.
As far as Swiss IRAs are concerned I had to google them to find out what they were. I had heard of Swiss Annuities before but I would very much hesitate to buy one right now based on what I wrote above.
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