Hi,
I need help/advise from financial gurus on this board. My husband is being offered to receive his salary in USD instead of CAD. Till last year when CAD and USD were at par we never bothered to look into this, though suggested many co-workers to receive salary in USD. It’s a tricky situation, given the current scenario we are not sure what the fate of USD is going to be (if inflation comes in US, USD will take a big hit).
What you'll suggest to accept the change of salary currency or wait? It’s a 20% difference and pinches to see some fellows who get in USD enjoying the benefits of a low CAD.
I'm utterly confused, any suggestions.
Jona
Where do you live?
Is the amount of USD and CAD the same or does the company automatically do the conversion?
You are right that the fate of USD is hard to predict.
They are in a huge mess down there, and there's no telling whether USD will stay as strong as it has been in the past.
That said, there is no guarantee that CAD will always stay lower than USD, or won't.
Tough decision, I agree.
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
I would have taken it but that's me !!
Prateek,
We live in SAmerica; the amount of salary is same just pick the currency. Picking USD means an automatic 20% raise. The other point is that we earn in CAD and spend in USD here (which pinches more). The trouble is once chosen we can't revert back to CAD and USD fate is unknown, hence the dilemma.
Jona
Quote:
Originally posted by jonav
Picking USD means an automatic 20% raise. The other point is that we earn in CAD and spend in USD here (which pinches more). The trouble is once chosen we can't revert back to CAD and USD fate is unknown, hence the dilemma.
Jona
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I am a Gents and not a Ladies.
Quote:Given the above factors, I would choose USD.
Originally posted by jonav
We live in SAmerica; the amount of salary is same just pick the currency. Picking USD means an automatic 20% raise. The other point is that we earn in CAD and spend in USD here (which pinches more).
Quote:It's true that USD may fluctuate around for some time and it's conceivable that USD/CAD may be at par again.
The trouble is once chosen we can't revert back to CAD and USD fate is unknown, hence the dilemma
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
Quote:
Originally posted by tamilkuravan
I am actually amazed as to how a responsible company can do a mistake like this and take a hit on the bottom line.
Hope this helps
Peace by TK
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