Where to invest 15K - 20K

INEEDANID

I have some savings to put away.

I wouldn't think i'll need the cash for a couple of years but could need to get at it if I lost my job.

Its not a huge amount by any means but I had a look at what the Irish banks are offering interest wise and is pretty poor in my opinion.

Im a small bit worried about the value or the euro dropping and was thinking of saving the money in a British bank or maybe even in sterling cash in a deposit box.

Anyone have any ideas?

OfflerCrocGod

The interest rate Irish banks are offering seems good enough to me, they aren't sustainable in the long term and will probably start coming down once there are only the two left.

INEEDANID

OfflerCrocGod wrote: »

The interest rate Irish banks are offering seems good enough to me, they aren't sustainable in the long term and will probably start coming down once there are only the two left.

Would a profitable credit union be better though or the Sterling account or cash since the euro seems to be in a bit of trouble

Joeyjoejoe43

Interesting idea on Sterling in a deposit box. I would be interested in hearing people's opinions on this.

INEEDANID

Joeyjoejoe43 wrote: »

Interesting idea on Sterling in a deposit box. I would be interested in hearing people's opinions on this.

I would be a little bit worried about the Euro still so considering all the options.

Could do with some opinions!

Blisterman

I hear people over here saying the opposite. That they're going to convert their savings into Euro.

Sterling has already lost quite a bit of value compared to the Euro the past few years. Whether that means it's better value now, I don't know.

INEEDANID

Blisterman wrote: »

I hear people over here saying the opposite. That they're going to convert their savings into Euro.

Sterling has already lost quite a bit of value compared to the Euro the past few years. Whether that means it's better value now, I don't know.

I saw it as being good value and could pay better than a deposit account in a bank if the Sterling grew stronger over time.

I could see the Euro growing weaker due to Italy, Ireland, Spain, Portugal, Greece all being in a spot of bother at the moment which wont help things in the Eurozone at all.

Dublin_Gunner

Blisterman wrote: »

I hear people over here saying the opposite. That they're going to convert their savings into Euro.

Sterling has already lost quite a bit of value compared to the Euro the past few years. Whether that means it's better value now, I don't know.

I would wait before piling money into Euro. Its gonna slip further with our re-rating to junk status today, and Italy's default situation.

If you're gonna go for currency, chose something the Euro will most likely drop against over the short term, and sell it back for Euro when it starts to come back up. Dollars might be a safer bet than GBP in this regard, due to GBP reliance on Euro markets.

If you want to make money on it, stocks are the way to go right now.

Check out Grubb Ellis on the NYSE - they've jumped 50% due to a huge securing of credit up to $100m, it will probably climb a bit further before levelling off if you get on it quick.

Advanced Micro Devices are to release a new processor architecture (Bulldzer) in a couple of months, which according to leaks will be at least competitive to Intels current Sandy Bridge offerings - which should give AMD's stock quite a nice jump in price.

I'm no trade expert, and keeping your investment in cash will likely yield less of a return than a savings account over a long period.

If you're looking for something risky, but with a potentially HUGE reward - the worlds newest country - South Sudan, will be converting to its own, new, national currency - this is bound to rise in value over the short term as soon as the country stabilises. As I said, risky, but potentially rewarding.

I could be completely talking out of my arse - but it's options you wanted!

OfflerCrocGod

€, $ or £. It's difficult to tell which one is worse, they're all rubbish.

If you want to protect your savings then kr (Norwegian krone) is a good European bet.

Blisterman

Dublin_Gunner wrote: »

If you're looking for something risky, but with a potentially HUGE reward - the worlds newest country - South Sudan, will be converting to its own, new, national currency - this is bound to rise in value over the short term as soon as the country stabilises. As I said, risky, but potentially rewarding.

Or it could become another Zimbabwe!

INEEDANID

I dont think I would invest in the stock markets. Bit too unpredictable for my liking!
Either cash or save it in a bank/ credit union me thinks

Dublin_Gunner

Blisterman wrote: »

Or it could become another Zimbabwe!

Hehe!!

Months wages for a packet of biscuits anyone?

Low Energy Eng

I'd recommend gold and silver...

Dublin_Gunner

Low Energy Eng wrote: »

I'd recommend gold and silver...

I actually stuck money on gold today..

DavidJC

Where did you buy the Gold? It doesn't seem so straight forward..

bacon?

DavidJC wrote: »

Where did you buy the Gold? It doesn't seem so straight forward..

This is probably the easiest place to buy and sell gold and the best value.

Bullion Vault

radioactiveman

keep a bit of gold but go for stocks. They haven't returned anything in about ten years which is rare. It's very unlikely they'll go nowhere again for another ten.. especially if there's a problem in europe in the next while

DavidJC

So I'm now considering buying silver on Bullion Vault.. Once I buy it I pay .8% commission and custody of a minimum of €134 per year. So if I bought 10k today @893/kg and silver rises to 1000/kg I'd make 983 euro.

However, I'm not sure how to withdraw this. I see there is 20% vat on selling silver if it is stored in London which would wipe any profit? Anyone actually gone through the process of selling it? Also - how safe/regulated are this crowd? I want to have all the facts before taking a dive!

bacon?

DavidJC wrote: »

So I'm now considering buying silver on Bullion Vault.. Once I buy it I pay .8% commission and custody of a minimum of €134 per year. So if I bought 10k today @893/kg and silver rises to 1000/kg I'd make 983 euro.

However, I'm not sure how to withdraw this. I see there is 20% vat on selling silver if it is stored in London which would wipe any profit? Anyone actually gone through the process of selling it? Also - how safe/regulated are this crowd? I want to have all the facts before taking a dive!

It's all done through internet banking dude, and there's no charge... if you're willing to wait a week that is. You just need to get an IBAN number from your bank.

Dublin_Gunner

bacon? wrote: »

It's all done through internet banking dude, and there's no charge... if you're willing to wait a week that is. You just need to get an IBAN number from your bank.

www.ibancalculator.com

DavidJC

Transferred money to BV last night.. still not appeared as funds on their site.

Killing me watching the price rise and rise...

INEEDANID

DavidJC wrote: »

Transferred money to BV last night.. still not appeared as funds on their site.

Killing me watching the price rise and rise...

Whats BV?

unknownlegend

Bullion vault.

bacon?

INEEDANID wrote: »

Whats BV?

Its a site for buying and selling gold and silver. Pretty easy to use interface and good customer service.

Doesn't take too long to get your head around with it... and they give you a gram of gold to play around with for free... not sure if they're still doing this, you'll have to check.

bullion vault

INEEDANID

Seems like a good idea the Bullion Vault.
I think i missed the boat for gold and silver though. They have been rising for so long last year was the time to invest i think.

DavidJC

Yesterday certainly wasn't a good day to invest in metals. It went in and came back out within hours for me.. Obama's announcement on debt seemed to be the main trigger for the drop.

Low Energy Eng

DavidJC wrote: »

Yesterday certainly wasn't a good day to invest in metals. It went in and came back out within hours for me.. Obama's announcement on debt seemed to be the main trigger for the drop.

An ounce has risen from 1050 to 1150 in the past month, i'd probably go easy on purchasing and try jump in on a large correction