Opinions pls: is my money "in danger"?

So I have 110k in equity from the sale of my last house, most of it in Rabo and a small part in a Spanish bank. Should I go out to buy gold and how do I go about it? Like, where do I keep it and all that, under the mattress? (JOKING OF COURSE!)

Burn the money and run.

Rabo is a good place to keep it.

Gold has high transaction charges, ie around 12%. Not worth it, IMO.

Stick it in Anglo at 3.5% for a year.

Really? Wow. Didn’t know that. That rules that out then.

Physical gold has high transaction charges. You pay for the coin to be made, commission on the sale and delivery charges. Or you can buy it on paper and have someone else store it for you at a cost. Then there are stocks which are based around gold.

Gold doesn’t pay interest, so gold investment is based on: a) capital appreciation (i.e. you are gambling on the price of gold going up) or b) fear that paper currencies will collapse leaving gold as the only true store of wealth.

The internet is not the place for investment advice but general advice is that you should look before you leap, and find out more about each investment before investing in it. Look at the gold thread for people opinion on gold as an investment.

Give goldcore a ring, they are in fitzwilliam square in Dublin, they were doing 1oz kruggerands for a 6% premium a few months ago with free storage for a year in Zurich or London.
You can get into paper gold for much less than 6%, ie perth mint certs, goldmoney etc. Have a look at goldismoney.info if you want to research all your options, it’s a huge forum.

You have a government guaranteed investment if you deposit it in Anglo. EBS is offering something decent as well for deposits over €20k.If you’re looking for more risk, you could always invest in {insert former blue chip ISEQ stock here}, they’re guaranteed to go up. :slight_smile:

As Pink Floyd said, “Come on my friends, let’s make for the hills, they say there’s gold but I’m looking for thrills”

I’d go with the mattress or Post Office savings certificates -but who’d do that ?

PO Savings Certs are invested in Irish government bonds.

How do we know the IMF wont make government bondholders take a haircut? We dont.

Stick with Rabo.

And after the free period is over, whats the charge? Id imagine youre then faced with a very high fee for continued storage or another very high fee, to withdraw your gold.

If 6% + storage fees + exit fees, is considered a special offer, Id prefer to keep the money in Rabo where you actually EARN a guaranteed return and dont pay any fees.

I just took my money out of Rabo as the interest rate is a lousy 2% now. I’m spread between Irish Nationwide (9 months at 3.75 - chose 9 months so I could get out before the guarantee expired) and Northern Rock (3% rate currently, but dropping in 2010 so will need to review that).

I had qualms about putting money in Irish Nationwide cos of Fingleton, but I really draw the line at Anglo, whatever the rate!

Diversify . cash,equities,couple of banks, RABO is fine, bonds, post office , prize bonds, antiques, have fun with the money, you cant take it with you, you sound worried and like its burning a hole in your pocket. only invest in what you know.
it sounds like no matter where you put it your going to be worried if you have it in the right place. Relax and enjoy it.

Dont buy gold, its a bubble that will pop. Investors will never remain in an asset that does nothing, they’ll leave it in search of yield once they feel ok again. Rabo is your best bet.

Domicile Rabo…

foreign account in Rabo or Irish account…

note the difference!!!

Not a concern now imho but MAYBE at a future date…

Rabo is one of the safer options.

I’m not the worrier type but with this country in dire straights it is difficult not to worry. In a normal situation I wouldn’t worry, I have never personally lived a situation where a bank would not give me my deposited money back. But it is the deposit for our new house whenever we decide to buy it, and the savings of a lot of years so I would really not like to loose it…

In any case, how do you get that I am so “worried” by a two line post in which one of them is a joke? Just curious…

course your worried, you admit it yourself. 'deposit for our new house whenever we decide to buy it, and the savings of a lot of years so I would really not like to loose it… ’
self declaration… I have my vast wealth ( BD ) in all of the above , including a $ US bank account , oh and a little land and some stamps and a few coins and some expensive wine and I also got a pallet of beans from the local cash and carry …
do whatever you want with your lumpy sum.