youngdan wrote:

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

You tell em, YD!

youngdan wrote:

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

Some wise words there.

youngdan wrote:

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

We're planning on doubling our numbers so we can deal with you Dan.

Johnny Keogh wrote:

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.

Johnny, I see that youngdan has mentioned the possibility of putting some, if not all, in a Swiss bank account. A few words about this from someone in Switzerland.

You can put this in Credit Suisse or UBS. They will have telesales people who "datamine" accounts and who may call you to suggest some daft investment bull. Ignore them and ignore these banks.

If you want to protect your money, stick it in a "cantonal" bank. These are restricted from arsing around in derivative markets where vast sums are squandered so your money is safe. The Zurcher Kantonalbank will open an account for you in Zurich Airport.

Or to keep your money ultra-safe stick it in one of the private banks here. (Vontobal or Clariden Leu, for example) These guys really know what they are doing. And they don't have "telesales" operations. No No, they are much more discreet.

Whatever you do, keep it safe and good luck in Spain.

Slim Buddha wrote:

Johnny Keogh wrote:

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.

Johnny, I see that youngdan has mentioned the possibility of putting some, if not all, in a Swiss bank account. A few words about this from someone in Switzerland.

You can put this in Credit Suisse or UBS. They will have telesales people who "datamine" accounts and who may call you to suggest some daft investment bull. Ignore them and ignore these banks.

If you want to protect your money, stick it in a "cantonal" bank. These are restricted from arsing around in derivative markets where vast sums are squandered so your money is safe. The Zurcher Kantonalbank will open an account for you in Zurich Airport.

Or to keep your money ultra-safe stick it in one of the private banks here. (Vontobal or Clarided Leu, for example) These guys really know what they are doing. And they don't have "telesales" operations. No No, they are much more discreet.

Whatever you do, keep it safe and good luck in Spain.

I don't have your knowledge of the Swiss Banks, Slim Buddha, but I have a deep distrust of the whole financial system, so would suggest that all of Johnny's eggs should not be any one basket.

There you have it from the horse's mouth Johnny. The 80 grand is just shy of a third but safety is paramount and if not actual government bonds then Slim has steered you straight.

Johnny,
I would not give advice on financial matters, at the end of the day it’s your money and you will be the one to win or lose, but I will say what I would do in your position.

I’d look for a spread of risk. First I’d make a decision on gold, it would provide a balance to my cash, in the event of currency Armageddon ( I don‘t believe this will happen), but on its own merits it could gain or lose 50% over the next year or so.
I would then speculate 10% of the balance between AIB & BOI shares, they’re good value at the moment and with only 10%, the risk is small. I would split the balance between deposit accounts in AIB, BOI & IP, they’re as safe as any bank in Europe and with a better guarantee than most + I’d have the small satisfaction of knowing I kept my money in the society where I make my living. The deposit accounts would also allow me to make a property investment if the right opportunity came up, a possibility I wouldn’t discount entirely.

Ideally if conditions were right I’d like to end up with 10 % in Irish bank shares, 30% in cash, 30% in an asset like property (bought at the right price) and I’d consider 30% in gold as a stop gap.

That’s me, I don’t mind a bit of risk, but I like to think my back is covered at the same time, you must go with your own thoughts, to be reasonably happy with your result.

In the meantime, have a great year in Spain.