2 million - Where to save / invest?

ed123_2

...Well... I put my £200 mill in Northern Rock.....<:-)...

Stavros_3

Is the 2 mil in Zimbabwe currency?

Mr_£

Did any one else read
"I am in the enviable position of having 2 million to invest or save"
as
"I am in the un-enviable position of being an absolute !!!!!!"

Bumbles2

purch wrote: »

You have £ 2 mill, and you are worrying about a couple of quid in charges :T

Maybe you should give it to charity and save all the worry :rotfl: :rotfl: .................some people just arn't cut out to have ££££

And some people aren't cut out to advice on situations they clearly don't care about. It's my parent's hard earned money. They have already paid their taxes. Why should they give more to banks in charges and fees when they don't have to? Isn't that what this forum is all about? Saving money and not giving it away?

For the rest of you that don't believe or are just too jealous and feel the need to post nasty responses just buzz off and don't post at all. Surely just not reading and responding at all would be better - don't waste your time!!

Bumbles2

Mr_£ wrote: »

Did any one else read
"I am in the enviable position of having 2 million to invest or save"
as
"I am in the un-enviable position of being an absolute !!!!!!"

Envy is a terrible thing. How about you just don't read this thread anymore then it won't bother you so much!

I guess with a grand total of 5 posts I shouldn't expect so much!

Bumbles2

Bumbles2 wrote: »

And some people aren't cut out to advice on situations they clearly don't care about. It's my parent's hard earned money. They have already paid their taxes. Why should they give more to banks in charges and fees when they don't have to? Isn't that what this forum is all about? Saving money and not giving it away?

For the rest of you that don't believe or are just too jealous and feel the need to post nasty responses just buzz off and don't post at all. Surely just not reading and responding at all would be better - don't waste your time!!

I would also like to add that I don't see a problem with shopping in boots, making baskets, having 100k to invest. I also occasionally do a boot fair and I collect Tesco points. Why is this such a big deal no matter how much money I have? What is your problem? Are these things only for people on a budget or with low income?.............Didn't think so!

cheerfulcat

Bumbles2 wrote: »

I would also like to add that I don't see a problem with shopping in boots, making baskets, having 100k to invest. I also occasionally do a boot fair and I collect Tesco points. Why is this such a big deal no matter how much money I have? What is your problem? Are these things only for people on a budget or with low income?.............Didn't think so!

Quite!

As to your parents' situation, I can only echo what a couple of other posters have said - they need professional advice. Not just from an investment point of view; they need tax advice as well. I would suggest they find an IFA who specialises in ex-pats.

Edited to add: Oh, and a better accountant.

Cook_County

I have no problem with the amount.

I am unclear where parents are tax resident. Following Gaines-Cooper HMRC are much more difficult on claims to have broken UK residence.

Have they got a legal opinion on their tax residence in Cyprus, or do they just think that HMRC will agree?

Have they sorted out their Wills & liability to UK IHT given that they are both still domiciled within the UK for IHT?

It is difficult to offer investment suggestions or advice on good banks without knowing where they are subject to tax?

G-G_4

Bumbles2 wrote: »

I am in the enviable position of having 2 million to invest or save.

What a load of c r a p!

You lied in your first post, why not say it was your parents money?!

You arn't in an enviable position at all..

Of course I would be jealous of someone with 2 million, I don't dissagree, but you are a liar my dear and just trying to make yourself sound good.

If you had 2 million then you certainly wouldn't be on here asking for help, you would go and see an Independant Financial Advisor for God's sake!

Also, do you not think it's a little crass to post it on here, whether you have the money or not, this board has a lot of people struggling. Not to suggest that you can't ask for advice etc.. but 2 million?! Jeez.. I wouldn't be taking the advice of complete strangers.. and rubbing it in a lot of peoples faces..

:rolleyes:

Nicholas

LongTermLurker wrote: »

Apologies if I'm also jumping on the bandwagon of disbelief, but your OP was very personalised - "I have £2m to invest... I aren't keen on stocks and shares... I have a mini cash ISA..." The last one in particular would have no relevance whatsoever if it was your parents' money.

As Jem16 says, rather than asking what you should do, they should go speak to an IFA (on a fee basis, I suspect).

However, if she had gone down the route "My friend has 2 mill to invest", some people would have jumped to the other conclusion that it was in fact herself she was talking about.

Also a straightforward answer in the first place may have helped out someone else who is too modest to mention their wealth, although personally if I had that sort of money I think I would be getting professional advice. No offence intended to anyone here