FIREdToBeExpat
Dryer sheet aficionado
- Joined
- Jun 23, 2013
- Messages
- 37
Some background: We have moved to Istanbul, Turkey from New York, US about a year ago. We operate an LLC based in New York, therefore all of our income is in US Dollars. We don’t earn any money in Turkey and all of our financials (retirement accounts, checking accounts, credit cards, etc.) are based in New York, US. We also own a home on Long Island, New York, which is paid for and it has been rented.
Inflation in the US is in the 2-3% range. In Turkey, it is about 9-10% range and I expect it to continue that way for a foreseeable future.
We are planning to live in Turkey long term and there is currently no intention of moving back to US anytime soon. Also, I don’t think we will generate any local income either. What would be the best way to hedge the local inflation risk? Any ideas?
Inflation in the US is in the 2-3% range. In Turkey, it is about 9-10% range and I expect it to continue that way for a foreseeable future.
We are planning to live in Turkey long term and there is currently no intention of moving back to US anytime soon. Also, I don’t think we will generate any local income either. What would be the best way to hedge the local inflation risk? Any ideas?