What the hell to do with savings now?

LisbonLaura

Dollar stuffed

Pound very dodgy

Euro, (the Mark's replacement) a bit of a myth strength wise?

Gold? I don't trust it

Ok, I'm 65 & retired. I don't have mortgages. I have a employers pension & a state pension. I live a very simple life in a very small house on a small farm in Portugal.

All very nice, but I think the game is up for western currencies & I just want to survive without the barstewards that run the show disturbing my remaining years

So where would you put 500,000 euros now??

purch

Spend it !!!

What's the point of worrying about all of it at your age ??

[Deleted User]

Income equities as theoretically any expansion in money supply to stealth tax the world out of recession will mean larger incomes in companies. Good old liquid high interest account followed by higher interest bank bonds for the money you need most access to.

Ideally you need a good spread of investments, if you have an expertise in art or antiques prob not a bad idea. Perhaps succession planning any funds you cant see yourself spending or a philantropic spree.

baby_boomer

You're only in serious trouble if you spend and save in different currencies.

So Euros might be safer than you think.

Investing elsewhere carries risks as well as possibilities. Especially as there is likely to be an "emerging market" element which advisers would be unlikely to recommend for those in retirement.

baby_boomer

purch wrote: »

What's the point of worrying about all of it at your age ??

With 40+ years still to go ? Plenty of reasons to worry. It's 2/5 of a lifetime.

purch

If you have 1/2 a Bar in Euros sitting in your Bank Account, and you live in Euroland.

Stick it in an account with a decent interest rate, and ENJOY it !!! :cool:

There are plenty of retired people much much worse off

Having Money is not meant to cause you worry

What the hell to do with savings now?

There is point in saving money for years if you don't get to enjoy spending it

cheerfulcat

LisbonLaura wrote: »

Dollar stuffed

Pound very dodgy

Euro, (the Mark's replacement) a bit of a myth strength wise?

The strength of a currency only matters on a personal level if you are wanting to trade it. If your income and your expenses are both in the same currency it doesn't really matter how the Euro moves against the dollar/pound/yen ( assuming that you don't buy a lot of imported stuff, of course...)

Gold? I don't trust it

Eh? What's to trust/not trust? As it happens I like gold as a small part of a much larger stock portfolio but unless you are expecting the very worst it's not a good place for keeping your money safe.

So where would you put 500,000 euros now??

I would keep half of it in cash ( Euros ), in the highest paying savings account available and put the other half in equities.

missile

LisbonLaura wrote: »

So where would you put 500,000 euros now??

You have accumulated £500K so it seems you done something right, so keep doing whatever that was.

LisbonLaura

Thank you all for such a lively & broad-based response:beer:

Part of the dilemma is that I have already reached the 'Haven't worked out how to take it with me & now is the time to spend it' phase; but my younger husband has not!

Mind you the other part is what what to spend it on......Oh dear me, what a plight............However it's all relative.....& only about 4 months salary for that Northern Wreck swine that refuses to resign!

Fred333

I would spend it on something you will enjoy.

globevestor

LisbonLaura wrote: »

Gold? I don't trust it

Please visit jsmineset.com to find out role of gold

cheerfulcat wrote: »

Eh? What's to trust/not trust? As it happens I like gold as a small part of a much larger stock portfolio but unless you are expecting the very worst it's not a good place for keeping your money safe.

Why gold is not a place to keep your money safe? Is it because you can lose it or gold has no interest?