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He may have other sources of income: Social Security, pension, 401k etc that are impossible, or very expensive, to move to Euro accounts.
The financial advisor will do the following: they will ask about current income, age, assets and desired post-retirement income and will advise on a pension plan made of an initial lump sum plus periodic contributions out of income. If any money is left over they will advise on how to increase the capital. They will do a standard "so much percent into government securities, so much percent into corporate debt, so much percent into equities" and so forth with a "low/medium/high" risk-profile adjusted for age and proximity of retirement and will offer a collection of managed funds with various advertised risk/asset profiles.
In other words, a load of hogwash.
Since we haven't heard anything specific to protect against other than insolvency of the custodians of JD's assets, and suitable discussion of deposit insurance has been had... The brainless should not be in banking -- Willem Buiter
Veteran Alone $974
With this new rating I am looking at lifetime payments (as long as the US Treasury is solvent) of:
70% 80% 90% 100$% Veteran Alone $1,228 $1,427 $1,604 $2,673
Lifetime monthly payments "Schiller sprach zu Goethe, Steck in dem Arsch die Flöte! Goethe sagte zu Schiller, Mein Arsch ist kein Triller!"
There is also the possibility, because of the tax treaties, that once I receive my Niederlassung, permanent residence permit here in Germany, that my years of contributing to SSA will count for German retirement insurance. "Schiller sprach zu Goethe, Steck in dem Arsch die Flöte! Goethe sagte zu Schiller, Mein Arsch ist kein Triller!"
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