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Worried about our life savings...

  • 15-05-2011 9:48pm
    #1
    DJJ
    Closed Accounts Posts: 5 ✭


    Talk of Ireland defaulting seems to have increased over the past couple of weeks, and we (my wife & I) are starting to become extremely concerned over the "small pot" we have in Rabo. Understand from previous posts that there is a real possibility of it being substantially devalued should this arise.

    Would be interested to know of anyone that may have opened a savings account in another country, or other possible options we might not have considered?

    *Our intention was to buy an overseas property as a family home/investment sometime in the future? Perhaps we should get a move on before we have nothing left....?


Comments

  • #2
    Thargor
    Registered Users, Registered Users 2 Posts: 18,062 ✭✭✭✭Thargor


    Rabo aren't Irish, they're Dutch, so it should be safe enough in the event that Irish banks are collapsing. Apart from that I dont know, I wouldn't feel very confident putting my money in property in any country at the minute but if you have a family you probably feel differently.


  • #3
    irishh_bob
    Closed Accounts Posts: 5,700 ✭✭✭irishh_bob


    DJJ wrote: »
    Talk of Ireland defaulting seems to have increased over the past couple of weeks, and we (my wife & I) are starting to become extremely concerned over the "small pot" we have in Rabo. Understand from previous posts that there is a real possibility of it being substantially devalued should this arise.

    Would be interested to know of anyone that may have opened a savings account in another country, or other possible options we might not have considered?

    *Our intention was to buy an overseas property as a family home/investment sometime in the future? Perhaps we should get a move on before we have nothing left....?

    even the country defaulted , your savings are safe in rabbo as its covered by the dutch state , however, having ones savings in rabbo would not save you from a a currency conversion were ireland to exit the euro


  • #4
    whysomoody
    Registered Users, Registered Users 2 Posts: 226 ✭✭whysomoody


    you could buy into a German Government Bond, or a UK Bond. Something short term with little duration risk would probably be ideal.

    edit(obv not the whole lot in one bond)


  • #5
    hmmm
    Registered Users, Registered Users 2 Posts: 11,205 ✭✭✭✭hmmm


    We're funded by the ECB & IMF for a couple of years. As SF and others on the looney left have not been voted into government, thankfully it is extremely unlikely that there will be a sudden unexpected catastrophic default.

    A bigger danger is that this government continues to seize the assets of the private sector to keep politicians and the public service in the lifestyle they have come to expect.


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