Ways to Benefit from the Strong Dollar

The  stronger dollar may be bad for U.S. based multinational companies, but it is a boon for U.S. residents.   Here are some ways one can benefit from a stronger dollar:

• Travel outside of the U.S.  With a stronger dollar, one can buy more foreign currency, which results in lower food and lodging costs.   One doesn't even travel far.  Going to Canada and Mexico is now cheaper.
• Buy foreign currency ETFs.  The dollar strength will eventually subside, leading to stronger foreign currencies.   One can profit by buying and owning foreign currencies now,
• Buy foreign stock ETFs.  Several foreign country stock markets are hitting new 52 week highs in local currency, but not in dollar denominated terms.  Once the dollar weakens, these ETFs will get an additional boost in value.

Of course, imports will also get cheaper, which may help when buying a foreign made car.

For more on  Ideas You Can Use , check back Tuesdays for a new segment.

This is not financial advice. Please consult a professional advisor.

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