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  • FIRST POST
    • ruthcain1
    • By ruthcain1 1st Aug 18, 1:18 AM
    • 27Posts
    • 13Thanks
    ruthcain1
    Savings in euros or dollars to protect against currency crash?
    • #1
    • 1st Aug 18, 1:18 AM
    Savings in euros or dollars to protect against currency crash? 1st Aug 18 at 1:18 AM
    I am a newbie on here so please don't crucify me for my ignorance.

    I am expecting not much good to come of Brexit given the shambles we are currently facing. I expect no deal and a slow-to-no recovery. If I am wrong, no one will be more pleased than me. 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, but my health isn't great and I'm too young and unpensioned to retire comfortably right now. So for now I am here but want in some way to hedge against the financial horrors I tend to see coming at the hands of our utter shower of a government and whatever may be coming next

    So I would really appreciate some advice in how best to invest against the coming (further) collapse of the pound. I will have some savings to invest by November ish and was wondering which of the following options is best:
    1. current account held in euros (i would transfer a few over from but would ultimately be hoping to generate euro income somehow- don't ask how yet)
    2. the same but in dollars
    3. invest in but in a fund which is EU/US/Asia based (please don't take the !!!! because I don't know where best in the world to invest right now... I just don't and am no economist)

    Any further advice on how to invest in Ireland would be helpful. I've been advised to look for property around the Trump Golf course at Doonbeg and airbnb it to American tourists!!
Page 2
    • Heng Leng
    • By Heng Leng 8th Aug 18, 7:57 PM
    • 4,581 Posts
    • 1,441 Thanks
    Heng Leng
    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...
    Originally posted by ruthcain1
    You do realise that there is no UK legal system?
    • sparkey1
    • By sparkey1 8th Aug 18, 8:13 PM
    • 424 Posts
    • 180 Thanks
    sparkey1
    The pound is stronger against the dollar and the Euro.



    So you could buy either, however currency markets dont work the way you think. Its priced into the market already.


    If anything buy FTSE 100 companies that earn significant revenue overseas. If the goes down, the shares will go up.
    • dividendhero
    • By dividendhero 8th Aug 18, 8:49 PM
    • 244 Posts
    • 262 Thanks
    dividendhero
    The pound is stronger against the dollar and the Euro.
    Originally posted by sparkey1
    For last 8 months the pound's been steadily losing about 1% a month





    If anything buy FTSE 100 companies that earn significant revenue overseas. If the goes down, the shares will go up.
    Originally posted by sparkey1
    True, but it's a bit like saying you're taller because you shrank the ruler
    Last edited by dividendhero; 08-08-2018 at 8:58 PM.
    • Thrugelmir
    • By Thrugelmir 8th Aug 18, 10:22 PM
    • 59,480 Posts
    • 52,796 Thanks
    Thrugelmir
    For last 8 months the pound's been steadily losing about 1% a month
    Originally posted by dividendhero
    What positions do the currency speculators hold?
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
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