No Deal Brexit and Savings

Thrugelmir

SeniorSam wrote: »

Some UK equities and Global equities are performing very well indeed. A split between both may be the right way to go depending on how you view risk.

Portfolio's need to be diversified. No particular sector outperforms forever. The aim should be for the portfolio to gain as a whole. Risk comes in a whole variety of forms. Impossible to forecast what might happen tomorrow.

AnotherJoe

ruthcain1 wrote: »

I wish I HAD bought some euros 2 weeks ago. Was lulled into a false sense of (vague) security by certain people on here saying the risk of no deal was already built into the fall of the pound in July 2016.

A coffee in Denmark just cost me nearly a fiver. Cheers Brexiters

Well you'd have lost out big time since you'd first have converted your Pounds to Euros, and then converted those to Danish Krone, probably losing about 10% overall. Near miss.

ruthcain1 wrote: »

Appears that was totally wrong, then. I see that even the Daily Express is now taking on a panicky tone about the fall of plucky old sterling.

For values of "totally wrong = 1% "

The Daily Express does nothing but a panicky tone.

And FWIW if you had, lets pluck a sum out of thin air and say that you have £100k in your pension fund, and the pound has similarly fallen against the dollar as the Krone and the Euro, your pension fund would have risen roughly half of that 1%, eg £500.

Lets say you also took £1,000 on holiday. Had you changed it earlier you would have £10 more. Making you overall £490 better off.


Happy days. Have a double shot latte next time.

meldrew58

Contrary question.
In the event of any Brexit outcome, would it be prudent to move any savings out of EU member state banks? In particular, RCI and Bank of Cyprus UK. Post Brexit, will the same protection be in place?RCI's protection is based on the French regulations with a threshold of 100.000 euros -will this still apply?

Malthusian

meldrew58 wrote: »

In particular, RCI and Bank of Cyprus UK. Post Brexit, will the same protection be in place?

Yes. Bank of Cyprus UK is a UK bank anyway. Out of those two, only RCI is an EU member state bank.

RCI's protection is based on the French regulations with a threshold of 100.000 euros -will this still apply?

What makes you think it wouldn't? If you were a Brazilian or an Australian investing in an RCI account you would be covered.