The vast majority of my savings are in...

The vast majority of my savings are in…

  • Stocks/Bonds/etc.
  • Gold (physical)
  • Property
  • AIB
  • BOI
  • AngIB
  • Ulster Bank
  • First Active
  • Irish Nationwide BS
  • EBS
  • Halifax/RBS
  • Rabobank
  • An Post/Postbank
  • Permanent TSB
  • ACC Bank
  • National Irish
  • IIB
  • Northern Rock
  • Credit Union
  • Other (specifiy)

0 voters

Where do people feel their money is the safest? Below are the well known institions. Some PINners have better international experience and probably know of safer banks, not listed here.

IIB are KBC now aren’t they?!?

I suppose you should have an explicit mattress / socks & chairs option but it’s down in other I suppose! :wink:

Yeah, only 20 poll options were allowed :slight_smile:

You forgot the “none” option…

Not a well designed survey. try again

Inveswtment classes in my mind are

  1. Cash - Gov Bonds, bank deposits, money market funds
  2. Equities and related stuff (Unit trusts etc)
  3. Property
  4. Business - corporste bonds, Spar shops

If I had cash, Id put a large chunk of it into gold.

I can see a super spike in its price (much like we saw in oil) happening very shortly.

I heard recently that the amount of dollars in circulation increased by 70% last year alone, due to the US printing the stuff. :open_mouth:
Inflation is going to be a major concern.
Couple that with a falling dollar and gold becomes the hedge of choice.

Its also important to bear in mind that the physical stuff is getting difficult to source in bulk.
In fact, you pay extra for it compared to the cash market, theoreticially they should be the same.

by invested in, do you mean stored in?

invested in AIB etc to me would mean you own AIB shares, but if that’s the case you don’t seem to have an option for a normal bank account.

What about pension savings? That is most of the notional electronic wealth I have!

A more interesting question might be what would you do with a sudden, significant windfall (lotto win, inheritance)?

Sleeping on bundles of notes can’t be good for your back in the long term…

Whatever about the demerits of the survey a surprising amount of confidence in AIB there and only one poster into the ould PostBank, that’s a bit surprising maybe it’s reflective of a demographic who just don’t think the Post Office is sexy enough… :smiling_imp:

I think “trouble” should be an option.

Where’s the beans and shotguns option?

Other : Moved everything out of BoI this week to a bank account on the continent this week :slight_smile:

What do you mean? No savings? Then don’t take the poll :slight_smile: Or do you mean None of the above? Then choose the Other option.

Point of survey is to see in what institutions most people have stored their money; not what ‘investment classes’ are most popular (but see Jess below). I’m not sure your poll breakdown #1,#2,#4 make much senseeither. But you can always start your own poll :slight_smile:

Yes, that would have been a better phrasing. I mean bank accounts; for bank shares, that’s an option there already.

Ok - where is it invested?

I’d be more than happy to help you with this problem :slight_smile: In the meantime, this would come under ‘Other’ :slight_smile:


Which bank?

i did have money in Postbank but pulled it as it’s a joint venture. anytime i’m in the post office there seems to be constantly little old ladies filling out applications at the postbank booth. maybe they get that guy from the Sapranos like TSB did and have him do an add.
“worried about who your money’s with, think they might bet it on the gee gees! worry no more, dump those losers and feel safe and secure with yer friendly postbank, tell them Phil sent ye!”

Can i ask which bank and how you opened an account on the continent. it is not so easy to open bank accounts abroad from my experiance.

They’re the bank with the highest credit rating - safer even than the Irish Government soon XX
oh and they have TIER I capital over 11% compared to our banks and their 5-6%(correct if I’m wrong but thats the last figure I remember them having)

Not the first time recently where a thread has asked for advice of this type.

Some of the more respected pinsters have been conspicuous by their absence with this regard.

Do some of these novices like myself have to rely on clubmans stickies or is there hope yet??

I personally would appreciate some advice from the more knowledgable (after all you have already saved me from ruin over the last 2 years or so).

the bould prof lucey has done a lot of work on gold. mostly well above my head. Google scholar is my friend…but it confuses me.

Not that I am any expert or indeed respected… I have no idea what to do. I suspect that gold is in a bubble. The vast majority of gold produced is used for jewellery making, with about a third used for industrial production (if memory serves me) and only 10% for investment. Both the commercial uses are in decline at the moment, so gold is busy doing to its primary markets what oil has done - kill them stone dead. Look at platinum - primarily an industrial metal, but also seen as a store of value and a precious metal (Mrs. YM certainly sees it as precious!), but it’s halved in price in the last year and is now cheaper per ounce than gold.

But that’s not to say that my analysis is in any way correct. Of all the aphorisms that have been trotted out, the only one left with any validity, as far as I can see, is “the market can stay irrational longer than you can stay solvent” (apart from, “you’ll always end up sleeping in the damp patch”).

So what am I in? Treasuries and cash. What am I considering? Cash. Edge into commodities (mostly oil) in the spring. Might go a bit into corporate debt. Might buy some TIPS. Might not. Will still mostly be in treasuries and cash.

PS this is all amateur small scale stuff in my pension and savings.