Advice on savings, sterling account

[Oirishfruitie]

Age: 45
Spouse’s/Partner's age: N/A - separate finances

Annual gross income from employment or profession: 60,000
Annual gross income of spouse: N/A

Monthly take-home pay: 3,375

Type of employment: e.g. Civil Servant, self-employed
Private Sector

In general are you:
(a) spending more than you earn, or
(b) saving?

Saving 2000 a month minimum

Rough estimate of value of home: 260,000
Amount outstanding on your mortgage: 0

What interest rate are you paying? N/A

Other borrowings – car loans/personal loans etc
None

Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card? N/A

Savings and investments:

Do you have a pension scheme? Yes
Currently Pay 200 a month from salary to a PRSA
Have a Personal Money Fund from previous job in the UK, currently worth £10,500 but not paying into it any longer.

Do you own any investment or other property?
£130,000 sitting in the UK doing nothing for me
Shares from previous employment, currently worth $13,000 but should improve. Currently $30, were $80 at one point.

Ages of children: None

Life insurance: None


What specific question do you have or what issues are of concern to you?
Would be interested in what's best to do with the Sterling account. Invest better offshore or take home and take the hit on the exchange rate? Could it be moved into the PMF in UK?

 

[Steven Barrett]

You are able to set up investment accounts in sterling and invest in sterling denominated funds if you don't want to convert to euro at this moment. If you have an account in the UK already, you should be able to transfer the funds to that. You should ask your provider.


Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)

 

[Ravima]

The exchange rate at present is quite good. If you want to bring the money back home in Euro, it might be a good time to do it.

if you want the safety net of a non euro currency, then perhaps invest the sterling in a general investment trust or such. Many give a dividend yield of around 4/5% at present.