2 million - Where to save / invest?

aliasojo

Dont take this the wrong way you lot (cos I know you're good!) but would someone with 2 million in the bank REALLY look for advice on MSE? :rotfl:


I love this site, you get to rub shoulders with all sorts. Do I need to curtsey or anything? (I is poor you see)

Bumbles2

bigbloke45 wrote: »

Bumbles2. there's still time to come clean!

If you really want some opinions about what your parents should do, try and be a bit more open. People on this forum really do want to help, but they can only do this on full information.

Don't go into your shell; it really doesn't help at all.

Also, remember, nobody knows who you are, so no fear!

Get it off your chest, girl, you'll feel all the better for it!

Best wishes.

What exctly would you like more information about?

Bumbles2

aliasojo wrote: »

Dont take this the wrong way you lot (cos I know you're good!) but would someone with 2 million in the bank REALLY look for advice on MSE? :rotfl:

Haven't you been following this thread at all? The money belongs to my parents. I misguidedly thought it would be easier to say 'I' and 'me' rather than explain the whole 'hows' and 'whys'. Obviously this was a mistake as the distrusting and jealous pounced on me.

I really don't see the problem in asking for advice whether the amount was 2million, 2 quid or 2 million in debt! This site is about getting advice and guidence without paying for it. Why should this situation be any different? Why pay for information when you could get just as good information for free? Isn't that why a lot of us are here? Geesh....you lot are unbelievable and clearly don't have enough to do with your time if you have to post negative comments here repeatedly.

AND in answer to your question.....YES someone with 2 million woud post here and the daughter of someone with 2 million would too. Happy now! quote]

Masomnia

I'd definitely still come here if I had £2 million, having lots of money is no reason to waste it.

freddysmith

I would say very few people on here could give advice on very large sums of cash. It could get quite complicated without proffesional help and they would have some kind of checklist to go through depending on individual short term and long term circumstances.

cheerfulcat

Bumbles, seriously, someone in the situation you describe ( ex-pat [?] with £2 million to invest ) needs to take advice from a specialist.

Why pay for information when you could get just as good information for free?

People who give information for free are not liable for the consequences.

NUFCnutter

Bumbles, you seem to have made one fatal error. This site is actually called MoneySAVINGexpert, not MoneyINVESTINGexpert. I am sure if you, your parents or your cat had £2 million then it would most certainly prove to be an investment to talk to a very good independent financial advisor rather than depend on the wisdom of (and I know its not the same in all cases here) people who have had money problems.

LongTermLurker

Bumbles2 wrote: »

This site is about getting advice and guidence without paying for it. Why should this situation be any different? Why pay for information when you could get just as good information for free? Isn't that why a lot of us are here?

.....YES someone with 2 million woud post here and the daughter of someone with 2 million would too

If I had anything like that amount I wouldn't go on a website and ask a bunch of nobodies like us (sorry to any and all "somebodies" out there - you know what I'm getting at :rolleyes:).

Sure you can ask my advice on what to do with £2 million, but as I don't have that experience, it don't mean nothin'. Despite Meester's comment, I genuinely would be amazed if a lot of people who visit this site have that kind of money.

£2m is important, and to my mind anything that important is worth paying for. Experience and knowledge are worth paying for.

NUFCnutter

LongTermLurker wrote: »

If I had anything like that amount I wouldn't go on a website and ask a bunch of nobodies like us (sorry to any and all "somebodies" out there - you know what I'm getting at :rolleyes:).

Sure you can ask my advice on what to do with £2 million, but as I don't have that experience, it don't mean nothin'. Despite Meester's comment, I genuinely would be amazed if a lot of people who visit this site have that kind of money.

£2m is important, and to my mind anything that important is worth paying for. Experience and knowledge are worth paying for.

As a somebody I graciously accept your apology :rotfl:

Ian_W

Come on guys - if I had £2million I'd still come on here - but I wouldn't be soliciting advice about what to do with it and, at least initially, giving misleading info as to whose money it really is.

One of the biggest considerations with a chunky sum like that would be TAX - in a 6% savings account [as the OP alluded earlier to using high interest savings accounts] the interest alone would put both Ma and Pa in the HR tax band, complicated by the fact they're ex-Pats, then there is IHT planning, then there is the fact they'd need 29 banks/bs's to be covered by the FSCS scheme and so on. Really the stuff for an internet forum?

OP, if you are serious and I'm not judging one way or t'other, your parents were bright enough to run a business worth £2mill surely they're bright enough to get some proper wealth management, IHT planning and tax advice advice? If they're not happy with Barclays they can always change and its not as if they can't afford the air fare to UK to sort it out if they can't find the right advice available in Cyprus.