# 90k to invest



## amberley (18 Oct 2011)

Hi all

My partner and I sold our house a few years ago and since then we have been renting.  The profit of the sale means we have 90k in a bank account.  Increasingly we are very worried about it remaining in a euro account. 

Recently we met with a broker who suggested that we split the money into the following 2 options: 
1. Dolmen Split Deposit Currency Bond through KCB bank with returns linked to the Indian Rupee currency outperforming the Euro in 3 and a half years
and 
2. setting up a currency trading account to buy aussie dollar government bonds 

The broker is not an independent financial advisor and we know he has a vested interest in these products.  We want to put our money into low/no risk options and had never even considered investments before. Now we feel that we are in a position (due to the euro crisis) where in order to protect our money we should get it out of the Irish banks.

We live very modestly, have no debts and are in good health with jobs.  I know we are in a very lucky position but the worry of the possibility of losing this money is very stressful.

We would be so grateful for any advice any of you could give.  We are hoping to meet with an independent financial advisor shortly and would appreciate any recommendations for someone in the Dublin/Wicklow area.  Thank you.


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## directdebit (19 Oct 2011)

How volatile in the Indian Rupee?

Would you not be better to go to the bank or Rabobank directly and ask them for advice?


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## paulc (20 Oct 2011)

hi amberly,
i'm in the same boat as yourself and got independent advice .
one of his reccomendations was the kbc account which i went with .
i'm not worried about it as the capital is guaranteed . anyways no use worrying as who ever though that irish bank shares would'nt buy you a coffee (i'm a victim of boi + ilp share price crash ). i also hold uk shares as a safe haven v euro ...also good dividends .


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## farmerette (24 Oct 2011)

paulc said:


> hi amberly,
> i'm in the same boat as yourself and got independent advice .
> one of his reccomendations was the kbc account which i went with .
> i'm not worried about it as the capital is guaranteed . anyways no use worrying as who ever though that irish bank shares would'nt buy you a coffee (i'm a victim of boi + ilp share price crash ). i also hold uk shares as a safe haven v euro ...also good dividends .


 
any investment which is capital guarenteed should be avoided like the plague , best case scenario you will end up right where you started off as such investments incur very hefty managment fees , its important to remmber that four out of every five  bank investment funds never make a schilling , they are vechiles for banks to make handy money , personally speaking , id only ever put money in a savings account of buy direct shares


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## amberley (24 Oct 2011)

paulc said:


> hi amberly,
> i'm in the same boat as yourself and got independent advice .
> one of his reccomendations was the kbc account which i went with .
> i'm not worried about it as the capital is guaranteed . anyways no use worrying as who ever though that irish bank shares would'nt buy you a coffee (i'm a victim of boi + ilp share price crash ). i also hold uk shares as a safe haven v euro ...also good dividends .



Thanks Paul its good to hear that someone else has received independent advice regarding this product and has gone with it.  We are finding it very hard to find an independent financial advisor - if your advisor was based in Dublin area we would appreciate that tip.  When you say UK shares do you mean government bonds or are you talking about stock market shares in a UK company?



farmerette said:


> any investment which is capital guarenteed should be avoided like the plague , best care scenario you will end up right where you started off as such investments incur very hefty managment fees , its important to remmber that four out of every give bank investment funds never make a schilling , they are vechiles for banks to make handy money , personally speaking , id only ever put money in a savings account of buy direct shares



Thanks Farmerette for your reply but we are very wary of shares as they seem to be so volatile.  We have asked about the management fees so thanks for that tip.  If I remember correctly from the meeting they were less than .15% but I will check that.  To be honest we dont mind if we only end up with our initial investment as long as that investment is safe (but of course some return would be great!).  

So perhaps capital gauranteed is right for us?  Id really appreciate any ones thought on the aussie dollar bonds too thanks everyone.


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## Eithneangela (24 Oct 2011)

If I had that kind of money at the moment, I'd book a 5* Cruise anywhere, followed by a few weeks in a sunspot to get over the cruise, and then see what could be bought with the remainder. It's not really a good time to look for a safe investment anywhere so maybe just enjoy life!


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## farmerette (25 Oct 2011)

amberley said:


> Thanks Paul its good to hear that someone else has received independent advice regarding this product and has gone with it. We are finding it very hard to find an independent financial advisor - if your advisor was based in Dublin area we would appreciate that tip. When you say UK shares do you mean government bonds or are you talking about stock market shares in a UK company?
> 
> 
> 
> ...


 

you have capital guarentee with the likes of a savings account with rabbo direct and they pay 2.4% interest and the money can be withdrawn at any time , sure , in the event of the euro collapsing or ireland leaving the single currency , you money would be devalued but this investment fund you speak of wont escape unscathed in the event of a euro meltdown either


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