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If you had £100,000 .........

If you had £100,000 .........

Old Mar 27th 2011, 10:52 pm
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Default If you had £100,000 .........

If you had £100,000 languishing in a British bank account, lived in Australia, had no property investments, did not want to shift it to Australia because of the exchange rate, what would you do with it?

Obviously "Speak to a financial advisor" would be the first response - second response?
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Old Mar 27th 2011, 11:01 pm
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Default Re: If you had £100,000 .........

Why not move it though? You would at least be earning a much better interest rate with it just languishing in a bank here. You could wait forever for a decent exchange rate to return
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Old Mar 27th 2011, 11:09 pm
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Default Re: If you had £100,000 .........

Originally Posted by Sally Simpson View Post
Why not move it though? You would at least be earning a much better interest rate with it just languishing in a bank here. You could wait forever for a decent exchange rate to return
I guess that's an option. £100,000 x 1.6 (FX) = $160,00 x 1.06% (interest) = $169,600. A gain of $9000 or £5400 over a year.

One would have to keep an eye on the FX rate. Whilst it might work in favour it also might also negate any gains.
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Old Mar 27th 2011, 11:13 pm
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Default Re: If you had £100,000 .........

I guess if we had the benefit of a crystal ball, it would make it a much easier decision!
I tell you what, when we cash in our endowment & move that across I'll let you know as the exchnage rate is bound to improve as soon as we do it!
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Old Mar 27th 2011, 11:36 pm
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Default Re: If you had £100,000 .........

Originally Posted by Beoz View Post
If you had £100,000 languishing in a British bank account, lived in Australia, had no property investments, did not want to shift it to Australia because of the exchange rate, what would you do with it?

Obviously "Speak to a financial advisor" would be the first response - second response?
We recently put a load into premium bonds - no interest but you do get monthly 'prizes' and you could potentially win GBP1m. The amount we are winning equates to about 4% interest at the moment.

You can open a UK premium bond account from Australia
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Old Mar 28th 2011, 12:04 am
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Default Re: If you had £100,000 .........

Id get all the family to have all their teeth sorted back in the UK, so I didnt have to give it all to a greedy Aussie dentist

Gems
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Old Mar 28th 2011, 12:07 am
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Default Re: If you had £100,000 .........

I'm wondering if a healthy deposit on a flat in the UK could generate 7 or 8% yeild on rental income vs mortage repayments and other costs. I suspect the growth on the property price would be minimal at the moment.
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Old Mar 28th 2011, 12:11 am
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Default Re: If you had £100,000 .........

Originally Posted by Beoz View Post
I'm wondering if a healthy deposit on a flat in the UK could generate 7 or 8% yeild on rental income vs mortage repayments and other costs. I suspect the growth on the property price would be minimal at the moment.
Don't forget that you will be liable for australian tax on all your worldwide income, including rental income from the UK.
The only exception is for people on some temporary visas
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Old Mar 28th 2011, 12:48 am
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Default Re: If you had £100,000 .........

Originally Posted by Beoz View Post
If you had £100,000 languishing in a British bank account, lived in Australia, had no property investments, did not want to shift it to Australia because of the exchange rate, what would you do with it?

Obviously "Speak to a financial advisor" would be the first response - second response?
Invest it in equities in the UK.
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Old Mar 28th 2011, 1:38 am
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Default Re: If you had £100,000 .........

Originally Posted by Beoz View Post
If you had £100,000 languishing in a British bank account, lived in Australia, had no property investments, did not want to shift it to Australia because of the exchange rate, what would you do with it?

Obviously "Speak to a financial advisor" would be the first response - second response?
Go home
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Old Mar 28th 2011, 1:41 am
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Default Re: If you had £100,000 .........

Originally Posted by Gems View Post
Id get all the family to have all their teeth sorted back in the UK, so I didnt have to give it all to a greedy Aussie dentist

Gems
Why is it that people from other countries say that us peeps from Uk have bad teeth...give me complex lol
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Old Mar 28th 2011, 3:46 am
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Default Re: If you had £100,000 .........

Originally Posted by Grayling View Post
Don't forget that you will be liable for australian tax on all your worldwide income, including rental income from the UK.
The only exception is for people on some temporary visas
Absolutely - but you would still have to pay tax if you were earning interest in an Oz bank account. Either way escaping the clutches of the UK and Oz tax people is unavoidable. I suspect the double taxation treaty would cover most of it - right?
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Old Mar 28th 2011, 3:56 am
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Default Re: If you had £100,000 .........

Originally Posted by Beoz View Post
If you had £100,000 languishing in a British bank account, lived in Australia, had no property investments, did not want to shift it to Australia because of the exchange rate, what would you do with it?

Obviously "Speak to a financial advisor" would be the first response - second response?
Buy gold or silver, its still has plenty of "up" potential.
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Old Mar 28th 2011, 4:48 am
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Default Re: If you had £100,000 .........

Originally Posted by Margaret3 View Post
Go home


Do you ever reckon you will get back Margaret?
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Old Mar 28th 2011, 6:30 am
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Default Re: If you had £100,000 .........

Originally Posted by Margaret3 View Post
Go home
((((())))
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