Savings in euros or dollars to protect against £ currency crash?
Options
Comments
-
The main problem is that you will lose 2 - 3% in fees/spread when you change into Euros, and if you were to change it back you'd lose a further 2 - 3%
A high street bank would probably charge that, but you can easily undercut. Transferwise is 0.35% - even HL should do it for about 1%!0 -
. I'm planning to try to locate my grandad's Irish birth certificate (lost a while back) and clear out of here to Ireland at some point,
Funny how so many Brits are suddenly keen to find Irish grandparents
Unfortunately my pedigree is 100% British:(, think I'll have to go down the route of naturalisation or hope the Irish government starts offerring citizenship to Brits in return for cash - I really cannot comprehend why some people are so thrilled about those new blue passports :wall:0 -
Indeed Dividendhero... my grandad was a scouser but of Irish and Lithuanian descent. All solid EU but we can't find the bloody birth certificate anyway.
I do think that post-Brexit emigration to European countries won't be all that difficult if you are skilled, young and in good health. I possibly have some skills (UK legal system based however
) but am neither young nor healthy so I'm a bit !!!!!!ed long term.
londoninvestor, thankyou very much for the tip re transferwise. I had heard already it was a good bet.
Eachpenny, you make an excellent point. I must say that as I've been watching what's happened to the NHS in recent years I see the exact same coming for us eg high costs. My NHS treatment is for a chronic mental health condition (fluctuating, but severe) and thus it's pretty bad anyway as mental health services have been slashed and I doubt they will survive Brexit in any workable shape (I think we are going to end up a mini USA so our mentally ill will be kept either in prison or left on the street)- but at least I get subsidised medication for it at the moment which I realise I wouldn't in the ROI. i strongly suspect however that we will have some sort of USA style insurance system in 5-10 years and I am uninsurable anyway as already ill all the more reason to invest while I can... 0 -
I read somewhere that Brexit is going to be such a failure we will no longer be able to afford all the letters of the alphabet.
Apparently the EU courts will make the final decision on which letters will be restricted to us and so it is highly likely that a number of our popular words will need to be slurred.
At this stage I am unable to determine how this will affect my investments.
Alex0 -
I'm looking forward to being able to pronounce croissant in Anglo Saxon without that faintly effeminate Gallic 'kw' sound at the beginning
0 -
At last I will be able to wear FLAMMABLE NIGHTWEAR again!0
-
Reminds me of a classic Viz letter....I read somewhere that Brexit is going to be such a failure we will no longer be able to afford all the letters of the alphabet.
which in turn brings to mind a Top Tip that made it onto this very forum many years ago:DIETERS. Buy only Russian Alphabetti Spaghetti as there are only 22 letters in the Cyrillic alphabet. Just watch the pounds fall off.0 -
If you haven't already then you might want to check how the condition(s) you have will be dealt with by the healthcare system in RoI. Some people have to pay for services which would be provided for free by the UK NHS.
Those costs could wipe out any economic benefit of leaving the UK.
The actual healthcare is free - they don't not treat conditions - but unless you are on a low income and qualify for the medical card (which the OP may do) you have to pay 50 euro to see a GP and 70 euro per night for bed and board in hospital although there is an annual limit. Older pensioners get exempt from the GP charges though.
However the Irish state pension is much higher than the UK one - including means tested payments - and you can in effect transfer your state pension contributions from the UK (at least for now) under EU rules if you move there permanently to count towards the Irish state pension when you reach 66. So the higher pension will easily offset the Health charges You also get free train and bus travel across Ireland post 66 as well - which is more generous than the UK scheme.
I expect the common travel area will stay so the OP doesn't necessarily need an Irish passport to locate to Ireland as UK citizens are treated the same there as Irish citizens (even voting in general elections) but there is no harm in applying and you keep your EU freedom of movement. You can order a copy of your grandfathers brith certificate online - if you know his birth location, birth date etc as per the link below. You can then register on the foreign births register and become an Irish citizen - although it cannot be passed onto any children born before you do this
And yes open a euro account - and then move it to am Irish bank when you move to Ireland.
Good luck - Brexit will have a short term impact but the world won't end!
https://www.hse.ie/eng/births-deaths-and-marriages/get-certificates-online/get-a-birth-certificate/
http://www.citizensinformation.ie/en/moving_country/irish_citizenship/irish_citizenship_through_birth_or_descent.html0 -
dividendhero wrote: »And get rid of those froggy "cul de sac" signs and replace them with "dead ends"
Possibly also useful for replacing the Welcome to the UK signs at the ports?0 -
Indeed Dividendhero... my grandad was a scouser but of Irish and Lithuanian descent. All solid EU but we can't find the bloody birth certificate anyway.
I do think that post-Brexit emigration to European countries won't be all that difficult if you are skilled, young and in good health. I possibly have some skills (UK legal system based however) but am neither young nor healthy so I'm a bit !!!!!!ed long term.
londoninvestor, thankyou very much for the tip re transferwise. I had heard already it was a good bet.
Eachpenny, you make an excellent point. I must say that as I've been watching what's happened to the NHS in recent years I see the exact same coming for us eg high costs. My NHS treatment is for a chronic mental health condition (fluctuating, but severe) and thus it's pretty bad anyway as mental health services have been slashed and I doubt they will survive Brexit in any workable shape (I think we are going to end up a mini USA so our mentally ill will be kept either in prison or left on the street)- but at least I get subsidised medication for it at the moment which I realise I wouldn't in the ROI. i strongly suspect however that we will have some sort of USA style insurance system in 5-10 years and I am uninsurable anyway as already ill all the more reason to invest while I can...
You do realise that there is no UK legal system?0
This discussion has been closed.
Categories
- All Categories
- 343.2K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.3K Work, Benefits & Business
- 608K Mortgages, Homes & Bills
- 173.1K Life & Family
- 247.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards