'offshore bank accounts' - feasible for the little guy? (lemmy.world)

submitted 1 month ago by [email protected] to c/[email protected]

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US - For the first time in my life I'm not living paycheck to paycheck, but now that I've got a bit of savings it feels like the US dollar and economy is on the cusp of death.

I'm wondering if I should split my bank account into another one that isn't affiliated with the US, maybe even have a percentage of each paycheck go to that one automatically. The thought being to not have all my eggs in one basket.

No idea the best way to go about this, or if it's even remotely a good idea. What do y'all think? Any relatively stable economy to shoot for / ease of opening/accessing an account in a country I'm not physically in?

This is new territory for me - my financial planning historically hasn't gone much past comparing the price tags of 40 lb bags of rice, so... Idk, I have no idea what I'm doing. I have this dread that the income I have now is about to become worthless, and not sure how to protect myself from that.

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[-] [email protected] 2 points 3 weeks ago

I agree with @[email protected]. Don't put too much effort into preparing for economic disasters, beyond normal recessions. Invest in good businesses that create value serving their customers. Have an emergency fund in interest-bearing savings account that's easy to access.

[-] [email protected] 3 points 3 weeks ago

Part of the goal is to have access to currency that's usable outside the US. Got my passport, wrapping up my degree which should make a work visa attainable. The dollar crashing isn't my only concern here - the US is going full Nazi, so being able to quickly gtfo is a big motivator right now.

[-] [email protected] 1 points 2 weeks ago

Part of the goal is to have access to currency that’s usable outside the US.

For that I like BTC and physical gold coins.

The dollar crashing isn’t my only concern here - the US is going full Nazi, so being able to quickly gtfo is a big motivator right now.

I am hoping that trend doesn't continue, but I think it's wise to be prepared. I'm hoping in that unlikely scenario we would be able to stay under the radar and move our wealth offshore.

We have kids in 9th and 10th grade. If the trend from the last four months continues for another year, which I think is unlikely, we will encourage them to go to school abroad in a stable country. But I'm afraid President Reagan was right that "if we lose freedom here, there is no place to escape to. This is the last stand on earth."

this post was submitted on 02 May 2025

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