Advice re €50k

finbarrk

A friend of mine asked me what should he do with it. At the moment it's in a BOI deposit account.

fat__tony

All on red. :cool:

Kristopherus

Put it in a biscuit tin & under the bed.

^

Probably best to get professional advice OP

SyntonFenix

If I had €50k I'd put it all into gold, but not that gold certificate rubbish. Approx. €42,000 for a 1KG gold bullion bar at the moment. In 2007 the same amount was half that. The chances of that doubling again in the next two to three years is high.

snubbleste

bricks and mortar. safe as houses.

irishh_bob

SyntonFenix wrote: »

If I had €50k I'd put it all into gold, but not that gold certificate rubbish. Approx. €42,000 for a 1KG gold bullion bar at the moment. In 2007 the same amount was half that. The chances of that doubling again in the next two to three years is high.

im not saying gold wont continue to rise but what makes you believe it can double ?

SyntonFenix

irishh_bob wrote: »

im not saying gold wont continue to rise but what makes you believe it can double ?

I can't see the economies of Europe or USA, improving anytime soon.

I'm a big fan of this chap

http://www.youtube.com/watch?v=jMjIoSDjP9k

http://www.youtube.com/watch?v=ie9GO81sjBQ&feature=related

saywhatyousee

OP i think the 1 kg gold bar is a great idea,i am buying a 200g bar just to safeguard my money not as a investment.I cant see gold collapsing anytime soon hopefully i might get a moderate rise

It dropped $110 an ounce today

Slozer

If your friend is serious he could try this:

http://www.avaresearch.com/index.html

He charges for most of his advice and analysis of markets etc and your friend would be required to do a bit of homework.

Cute Hoor

finbarrk wrote: »

A friend of mine asked me what should he do with it. At the moment it's in a BOI deposit account.

A lot depends Finbarr on how long he wants to leave it stashed away, and his risk/reward disposition.

Gold may very well double again in another couple of years, but it's impossible to predict that, and it's rare for any asset class to increase exponentially (witness Irish property).

Blue chip shares that pay a good dividend are worth considering, Aviva (7.7%), Royal Dutch Shell (5.6%), and United Utilities (5.7%) are 3 such companies (many others as well), should give a solid annual return and hopefully the share price will appreciate over time.

Caution: Don't take my word on it though.

Good luck to your pal.

checkcheek

SyntonFenix wrote: »

If I had €50k I'd put it all into gold, but not that gold certificate rubbish. Approx. €42,000 for a 1KG gold bullion bar at the moment. In 2007 the same amount was half that. The chances of that doubling again in the next two to three years is high.

Thats the excact same attitude everybody had to buying property, they all taught the only way prices could go were up

Only advice i can give to the op is just spred the money around, dont have it all in one place, have a bit here and there

ranger4

Exchange it for dollars and sterling as chances of ireland exiting the euro increase by the day with the inept europrats unable to agree credible policy to deal with current euro crisses.

Mr_Roger_Bongos

For an amount of that size he should be seeking professional advice, from a few locations.

You'd be better seeking out good, independant IFA's. Not in Ireland so don't know any myself sorry.

mono627

SyntonFenix wrote: »

If I had €50k I'd put it all into gold, but not that gold certificate rubbish. Approx. €42,000 for a 1KG gold bullion bar at the moment. In 2007 the same amount was half that. The chances of that doubling again in the next two to three years is high.

All your eggs in one basket ye?

whacky

all the indications are that gold and particularly silver will increase significantly in the next few years

stimpson

For people buying gold, buy ounces - American eagles preferably. Very hard to split a gold bar.

Arthurdaly

Gold really? Numerous people who have absolutely zero finance/investment knowledge have advised me to buy gold, when a binman is giving me advice something smells.

Gold is a bubble waiting to burst however there may be some way to go before the drop.

Would I put 100% of portfolio into gold? Certainly not considering you have people coming onto this forum with a one liner saying gold just because some other person without any knowledge advised them.

Get professional advice OP. Having said that the professional will analyse your age profile then advise you to spead the invesment across various asset classes dependant upon your age.

Gold will probably appear low on the advice you recieve and the main theme of the conversation will be diversify.

stimpson

Arthurdaly wrote: »

Gold really? Numerous people who have absolutely zero finance/investment knowledge have advised me to buy gold, when a binman is giving me advice something smells.

Gold is a bubble waiting to burst however there may be some way to go before the drop.

I was told it was a bubble at 600 gold and 13 silver I'm sure it will pop real soon now... As long as governments think they can print their way out of trouble the price of metals will rise.

SyntonFenix

http://dealbook.nytimes.com/2011/08/30/how-to-deflate-a-gold-bubble-that-might-not-even-exist/

Good video at the end.

shanec1928

just a year too late with that reply.

Yawns

Spam bot. Been going for a couple of hours now. No one about to deal with it atm.

Yawns

haha I got a pm from him now

consultan wrote:

it is not spam dud, check it yourself, u will get 50 euro straight away. if that doesnt happen u r free to write all the spam comments in the world.

regards
Patrick O'Leary

If it's not a bot it's a sad person actually going to the trouble of copy pasting into every thread he can.