Jump to content
Complete France Forum

Where would you put your money?


Chris

Recommended Posts

What would you do in our situation?

We've managed to sell our inherited UK property (whoopie!), and plan to buy in France in 2009 using the bulk of our slice.

In the meantime, if you were us, where would you put the dosh?  In a UK high interest a/c but with a 'forward contract' with a currency dealer? In a UK based euro savings account? Any other ideas? Nothing dodgy, please - especially offers to invest it on our behalf in South American business propositions...

My brother intends buying a Purdy (never been known to depreciate!) and using it to defend the rest of his money converted to Krugerrands and stored in socks under his bed - is this what you would do?  All ideas/comments welcome - we're new to this!

Chris

Link to comment
Share on other sites

[quote user="Chris"]

What would you do in our situation?

We've managed to sell our inherited UK property (whoopie!), and plan to buy in France in 2009 using the bulk of our slice.

In the meantime, if you were us, where would you put the dosh?  In a UK high interest a/c but with a 'forward contract' with a currency dealer? In a UK based euro savings account? Any other ideas? Nothing dodgy, please - especially offers to invest it on our behalf in South American business propositions...

My brother intends buying a Purdy (never been known to depreciate!) and using it to defend the rest of his money converted to Krugerrands and stored in socks under his bed - is this what you would do?  All ideas/comments welcome - we're new to this!

Chris

[/quote]

Hi,

    If you checked the savings site you will have seen that you can get around 5%, I would definitely stay in sterling ,and you will have the freedom to wait to convert your money till the rate looks better. Many "experts" say the £ has reached a bottom, so I don't think a forward contract based on todays rate would be the best idea, but get some quotes.

    If you are buying with one or more siblings you should give some thought to how you buy here. Buying property with others can lead to disputes, especially later on when children are involved--french inheritence laws are a mine field.  You might be best advised to buy small adjoining properties, or one which can be subdivided so you can each own your parts outright.  

Link to comment
Share on other sites

Thank you, both, for your advice.

Having spent my life with no money, it's a strange new feeling having money to invest - although we'd rather still have the source of the funds still living, as he'd know what to do! He was reading a book on quantum physics last Christmas night, saying 'I must be getting old, I've had to read that twice to understand it' - not bad for two days before his 98th birthday!  Mind you, in a moment of Euro-optimism we did find he'd bought Channel Tunnel Shares 30 years ago - these have cost more to dispose of than they were worth.

No, my brother isn't intending to join in this purchase, just me and 'she who is to be obeyed' - so only the usual complications, fortunately.

Chris

Link to comment
Share on other sites

If you have the space then I think the best buy at the moment is oil.

I would put my money in sterling bank deposits too - but make sure the money is safe, so divide it up if needs be to make sure each chunk is fully guaranteed and then I would buy bricks and mortar at the earliest signs of recovery.

I would avoid shares and share based investments.

Link to comment
Share on other sites

Avinalarf, every time I read something about investments the more confused I get. I have just been reading that now is the time to buy shares because if they haven't hit bottom they are very close.[8-)]

Good luck with your decision Chris a very good problem to have, particularly in this climate. No matter what you decide chances are now is a good time to invest. Shame that many of us have lost out on it's way down.

Link to comment
Share on other sites

Interesting - but confusing!

Oil? Did my dad OK - he worked for an oil company which promised him a pension for the rest of his life after he had completed 15 years with them. He began receiving that pension in 1952....... 

I do appreciate both the advice, and the kindness with which it is being offered.

Chris

Link to comment
Share on other sites

[quote user="WJT"]

Avinalarf, every time I read something about investments the more confused I get. I have just been reading that now is the time to buy shares because if they haven't hit bottom they are very close.[8-)]

[/quote]

Well who knows - the volatility is ludicrous and which ones to buy?  I like property - at least you have something you can call your own to bang your head against if it all goes wrong. 

 

Link to comment
Share on other sites

[quote user="avinalarf"][quote user="WJT"]

Avinalarf, every time I read something about investments the more confused I get. I have just been reading that now is the time to buy shares because if they haven't hit bottom they are very close.[8-)]

[/quote]

Well who knows - the volatility is ludicrous and which ones to buy?  I like property - at least you have something you can call your own to bang your head against if it all goes wrong. 

 

[/quote]

I have the lumps to prove it.[:D]

Link to comment
Share on other sites

For the Op I'd see if there is an account where the tie in is just quarterly, we have something like that at present.

As for property, I have always been a fan, but at present some people who invested in buy to let, for example, are suffering a certain lack of liquidity...everything has its drawbacks

Link to comment
Share on other sites

Is the Governments exercise,along with the Bank of England's help, purely to ensure that anyone with any capital spends it? The interest paid on most investments will be lucky to keep up with inflation over the next couple of years. UK property is taking a dive in most areas but if you think that's a good investment you get clobbered with the extra council taxes/service outgoings plus the Exchequer will have their grasping hand out for tax on any unearned incomeor profit. The only people unaffected by the present problems seems to be those fortunately,or unfortunately,on benefits.We have both ends of the spectrum in our family,one working all hours possible to keep her head above water and one lot who breed like rabbits, don't work and have every gadget going. Two bricks come to mind and yes, you can change the B.I have offered to pay for the op if the bricks don't work.

The system at present doesn't encourage the wasters to change thier situation as there is no way,or any jobs, that would pay anywhere near the handouts they receive.

And a Happy Christmas from me.

Regards.

 

Link to comment
Share on other sites

[quote user="WJT"]

Avinalarf, every time I read something about investments the more confused I get. I have just been reading that now is the time to buy shares because if they haven't hit bottom they are very close.[8-)]

Good luck with your decision Chris a very good problem to have, particularly in this climate. No matter what you decide chances are now is a good time to invest. Shame that many of us have lost out on it's way down.

[/quote]

 

Now probably is a good time to buy shares.  But for the ordinary investor shares have to be looked upon as a long term (many years) investment - which the OP isn't interested in.  In the next 3-6 months they could still loose value - hence the advice not to go into shares.

Link to comment
Share on other sites

[quote user="Russethouse"]

I'd have a good look through this : http://www.moneyfacts.co.uk/

I recently found that being tied in for just 3 months gave better interest.... but that was 2 months ago......worth doing some homework...

[/quote]

 

Russethouse,

All those accounts are UK based. Has anyone on the forum found a way of opening a UK savings account if you are not a UK resident? I would desperately like to find a safer home for what money I have left having lost money with Kaupthing IOM and Landsbanki Guernsey.

Link to comment
Share on other sites

[quote user="Glyn"]

Has anyone on the forum found a way of opening a UK savings account if you are not a UK resident? I would desperately like to find a safer home for what money I have left having lost money with Kaupthing IOM and Landsbanki Guernsey.  [/quote]

Not UK but IOM - Alliance& Leicester, Bradford & Bingley and Nationwide all have internet accessible branches there with up to £50K pp cover guaranteed.

Sue

Link to comment
Share on other sites

[:D][quote user="avinalarf"]If you have the space then I think the best buy at the moment is oil.[/quote]This made me chuckle, what exactly are you suggesting [8-)]

It's not that I think it's a bad idea, quite the contrary and in fact it's something I'm thinking of doing it myself.

No, it's just the thought of somebody's back garden stacked high with 45gallon barrels of crude oil waiting for the price to go back up then carting them off God knows where to crystalise their profit [:)]

Perhaps though you mean stocking up your central heating supplies. If so, and notwithstanding very real constraints on the quantity you can legally store on domestic premises, the investment you would incur in installing adequate bunded storage would quickly outweigh any potential bulk buy savings.

Regarding shares, despite the current dire state of the markets bought intelligently they are still likely to be the thing which produces the best return in the long run, if you can tie your money up for say 10 years.

UK bricks and mortar are a long term sure fire bet too, again if bought intelligently and without the need for finance.

Link to comment
Share on other sites

Trouble with that is that the areas Brits typically buy into are rarely areas with a great deal of work.

Who would want/could afford to rent a house in an area with very low employment and not much prospect of finding a job? 

Link to comment
Share on other sites

[quote user="ErnieY"][:D][quote user="avinalarf"]If you have the space then I think the best buy at the moment is oil.[/quote]This made me chuckle, what exactly are you suggesting [8-)]

It's not that I think it's a bad idea, quite the contrary and in fact it's something I'm thinking of doing it myself.
No, it's just the thought of somebody's back garden stacked high with 45gallon barrels of crude oil waiting for the price to go back up then carting them off God knows where to crystalise their profit [:)]

Perhaps though you mean stocking up your central heating supplies. If so, and notwithstanding very real constraints on the quantity you can legally store on domestic premises, the investment you would incur in installing adequate bunded storage would quickly outweigh any potential bulk buy savings.

Regarding shares, despite the current dire state of the markets bought intelligently they are still likely to be the thing which produces the best return in the long run, if you can tie your money up for say 10 years.

UK bricks and mortar are a long term sure fire bet too, again if bought intelligently and without the need for finance.

[/quote]

That's what I meant.  Come to think of it,  given the talk about the need for more nuclear power stations then some uranium ore would be a good investment too.  Most of it is uranium 238 with a half-life of 4.5 billion years - can't think of a longer term investment than that.  And it decays to lead so you can do your roof with any surplus.

 

Link to comment
Share on other sites

[quote user="bigears"]

hi

if you are french resident I would say buy property in france from someone who is desparado to sell.  Rent it out and wait until the market comes back.  I've seen some horrendous bargain from brits who are leaving.

[/quote]

Just lead me to one of these bargains, Bigears!

Link to comment
Share on other sites

hi

sweet17, in my area achievable house prices have dropped over the last two years., as far as I can see the market is just about dead.  I'm surprised if you are looking to buy and cannot find a bargain, perhaps you aren't looking but just don't want to accept the fact that prices are going down.  Recession is almost here and its going to be a difficult ride. 

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

×
×
  • Create New...