What to do with the cash????

Right lads, the gaff is sold.(sweet jesus, it was like pullin' teeth )

I've got approx €270K after costs.
I'm pishing off to Spain for a year so I'm extracting €35K to keep me going for a year or so.

What will I do with the money?

Rabo 2.6% 1 year fixed.
NIB (my bank) 2.9% 1 year fixed.
Irish P 4% 1 year fixed.
AIB 2.5% 1 year fixed.


Now for the heart stoppers.....

Ango-Irish 6% 1 year fixed.
Halifax 6% 1 year fixed.

I'm thinking for a four way split (eggs and baskets etc etc)

All suggestions appreciated.

I have a few quid in Anglo @ 5.4% (or something like that)

cookiemonster wrote:

I have a few quid in Anglo @ 5.4% (or something like that)

This is the thing, cookie. Since the 1.5 billion went in, I'm thinking, "they cant let that one go, can they?"

Its a good return in an almost zero inflation environment.

Johnny Keogh wrote:

cookiemonster wrote:

I have a few quid in Anglo @ 5.4% (or something like that)

This is the thing, cookie. Since the 1.5 billion went in, I'm thinking, "they cant let that one go, can they?"

Its a good return in an almost zero inflation environment.

Well it's guaranteed anyway so...

cookiemonster wrote:

Johnny Keogh wrote:

cookiemonster wrote:

I have a few quid in Anglo @ 5.4% (or something like that)

This is the thing, cookie. Since the 1.5 billion went in, I'm thinking, "they cant let that one go, can they?"

Its a good return in an almost zero inflation environment.

Well it's guaranteed anyway so...

cacturflower wrote:

cookiemonster wrote:

Well it's guaranteed anyway so...

You may laugh, ye of little faith.....

Anyways its only gauranteed for €100K.
My gut says if the gaurantee fails then cash will be the least of my worries, so why not risk it for the 6% biscuit....

Why not put a third into gold coins ?

Buy prize bonds. 0% return, but each bond (at €6.25) is entered in a weekly draw, and you can cash them in whenever you like.

4 monthly prizes of €1,000,000. 8 of €500K, and loads of other smaller weekly prizes up to €20k. I sound like a salesman now. I have a few grands worth, and have had a few envelopes through the door to cheer me up over the years.

I still think BOI are a good buy at 90 cent if you have 5K left over Johnny.

Good luck in Spain btw.

Johnny, as a valued poster keep in touch.

My advice is before you depart you should give a passionate embrace to your money as you will be permanently separated from your stash.

It is time to dwell on an old wise saying with regard to 6%

If it is too good to be true it most likely is too good to be true.

youngdan wrote:

Johnny, as a valued poster keep in touch.

My advice is before you depart you should give a passionate embrace to your money as you will be permanently separated from your stash.

It is time to dwell on an old wise saying with regard to 6%

If it is too good to be true it most likely is too good to be true.

Good man youngdan. Nothing like a slap upside the head to focus things.

BTW, I've been out of touch in recent months but you seem to be coming in for a bit of stick recently on some other threads?

Considering you were pretty much on the button over 2008, I'm a little suprised by this lack of faith shown by some posters.

yehbut_nobut wrote:

Buy prize bonds. 0% return, but each bond (at €6.25) is entered in a weekly draw, and you can cash them in whenever you like.

4 monthly prizes of €1,000,000. 8 of €500K, and loads of other smaller weekly prizes up to €20k. I sound like a salesman now. I have a few grands worth, and have had a few envelopes through the door to cheer me up over the years.

Excellent advice. You are the second to mention this and its attractive in a las vegas kinda way.

EvotingMachine0197 wrote:

I still think BOI are a good buy at 90 cent if you have 5K left over Johnny.

Good luck in Spain btw.

Thanks Evo but no shares. Never have and I never will. I'll wait for about 12-18 months while the propert market crashes in Spain and then I might invest there but to be honest I can rent out a nice 3 bed apartment for between €400 and €500 a month so why buy???

I have decided to gang up on them. There are only about 15 of them.

cactus flower wrote:

Why not put a third into gold coins ?

Same reason as shares...
"the value of you investment may go up as well as down...."

I'm not a gambler. Not in my bones I'm afraid. I'm a steady as-she-goes accumalator.

Johnny Keogh wrote:

youngdan wrote:

Johnny, as a valued poster keep in touch.

My advice is before you depart you should give a passionate embrace to your money as you will be permanently separated from your stash.

It is time to dwell on an old wise saying with regard to 6%

If it is too good to be true it most likely is too good to be true.

Good man youngdan. Nothing like a slap upside the head to focus things.

BTW, I've been out of touch in recent months but you seem to be coming in for a bit of stick recently on some other threads?

Considering you were pretty much on the button over 2008, I'm a little suprised by this lack of faith shown by some posters.

On the button ? He said if Obama was nominated, he would be shot

cactus flower wrote:

Johnny Keogh wrote:

Considering you were pretty much on the button over 2008, I'm a little suprised by this lack of faith shown by some posters.

On the button ? He said if Obama was nominated, he would be shot

Who's to say some dingbat has'nt thought about it?
Or better still, blew himself up in his shed try to concoct the bomb?

Stranger sh1t has happened.

Johnny Keogh wrote:

cactus flower wrote:

Johnny Keogh wrote:

Considering you were pretty much on the button over 2008, I'm a little suprised by this lack of faith shown by some posters.

On the button ? He said if Obama was nominated, he would be shot

Who's to say some dingbat has'nt thought about it?
Or better still, blew himself up in his shed try to concoct the bomb?

Stranger sh1t has happened.

Back to basics - you don't want to get caught by the hyperinflation that youngdan predicts. That means some kind of readily saleable commodity. Salt?

cactus flower wrote:

Back to basics - you don't want to get caught by the hyperinflation that youngdan predicts. That means some kind of readily saleable commodity. Salt?

In a hyperinflated market, whats wrong with property?

I did not say that Obama would meet any harm. I said that he is as safe as safe could be.

See Johnny, this is what I have to deal with from the gandg of 15

Johnny Keogh wrote:

cactus flower wrote:

Back to basics - you don't want to get caught by the hyperinflation that youngdan predicts. That means some kind of readily saleable commodity. Salt?

In a hyperinflated market, whats wrong with property?

The problem with property in Spain is the same as here - over supply. Better go for a commodity which is in limited supply, and then buy your property.

Prices are already down 30% in Spain, so if you found the right place, it might be a steadier bet than paper assets.

Deposit accounts are good... don't trust Anglo though (or any UK bank... not guaranteed to the same extent, and I don't care, I still think the UK govt is in a worse state).

Renewable energy?? Bank pips and peps/ mutual funds?? AIB at least will survive this and BOI too, probably, am thinking if we have any spare money towards the end of 2009 (once the fallout from a few bankrupt builders has been... er ... through the system), we might go that route

Oil companies are cheap right now, and will become more expensive

Agricultural land?? Whatever you do, keep the money in euros if you live in euroland....exchange rates will go snake this year

I suspect gold may be another bubble, and you can't eat it. Youngdan may prove me wrong though

cactus flower wrote:

Johnny Keogh wrote:

In a hyperinflated market, whats wrong with property?

The problem with property in Spain is the same as here - over supply. Better go for a commodity which is in limited supply, and then buy your property.

Prices are already down 30% in Spain, so if you found the right place, it might be a steadier bet than paper assets.

It'll drop further. As you can imagine, I'm following that issue with keen interest. Its the main reason I'm stashing the cash for a year.
The Spainish completed 700,000 new homes in 2008.
In the middle of a property bust.
The overhang is estimated to be about 1.2million units.

Since I'm a longtermer, I see oppertunity in Spain over the next, say 10-15 years, to turn my small nest egg into something a bit more substantial. I'll still have to work of course, but I dont see the same oppertunity in Ireland to grow.

Prices in the U.S are now down 30% in place like Las Vegas, Pheonix. I see similar drops in spanish Costa del Sol and Costa Blanca.
I've just got to wait and stay liquid.
Cash is King once again.

Johnny, what you need is peace of mind and that is priceless. Do not leave a penny in Irish banks.

Buy 50 ounces of gold and 1000 ounces of silver. Hide them well and after a year I gaurantee one thing. You will have 50 ounces of gold and 1000 ounces of silver. Put 80 grand into Swiss government bonds or even a Swiss bank account if you don't feel comfortable with bonds.

Put some money into yen and aussie and nz and take your chances.

Leave most of the rest in a European bank as a property buying oppurtunity may arise at far lower prices.

Don't be a stranger when you get there

Don't forget ethical investing! It exists in spain !

http://www.triodos.es/