Ways to Take Advantage of a Strong Dollar

The U.S. Dollar is the strongest it’s been in 20 years. A strong dollar can produce winners and losers, both in America and on foreign soil.

Let’s explore five ways you can take advantage of this strong dollar while it lasts. This is not a list of recommendations, but rather a list of activities & ventures that make more financial sense to do now as compared to a time when the dollar is weaker.

Here are the Ways to Take Advantage of a Strong Dollar

Arrow

Once you arrive to your foreign destination, you’ll find that your dollar goes a lot further than it once did.

#1 Travel Abroad

I’m not saying that you should buy yourself a Porsche 911 that was never made available in the U.S., but if you’re going to do it anyway, you might as well do it when your dollar is worth more Euros than it normally is.

Buy That Classic Foreign Automobile

If your goal is to buy low and sell high, you might see foreign stocks as available at a discount in times with a strong dollar.

Invest in Foreign Stocks (Rebalance)

You can invest in foreign real estate in any number of ways. The easiest would be to invest in an international REIT like Vanguard’s Global ex-U.S. Real Estate mutual fund or ETF.

Invest in Foreign Real Estate

Business that primarily imports goods to the United States will be better positioned to do well when the dollar is strong.

Start an Import Business

SWIPE UP NOW TO READ MORE

Which is Better? Chase Sapphire Preferred versus Sapphire Reserve

MORE STORIES

The Best Cash Back Credit Cards in 2023