scrubbedexpat141

Put a whopping fiver on the boys to finish top ten at the start.

csdf

If you bank with HSBC, you can change the address on your bank statements to anything you like. This way you can create an acceptable proof of residential address. Perhaps you can do this with other banks too.

scrubbedexpat141

Oh, interesting. Thank you for that.

Brains1983

I'm with Interactive Brokers, no issues with them for opening the account or ongoing. standing order in AED to their USD account, funds arrive same day or next working day. all set up based on the guidance in expat millionaire. for me, it's 85% IWDA, 15% IGIL. add the monthly money into whichever one has dipped beneath the allocation. simples.

join the SimplyFI group on facebook and have a search for Interactive Brokers set up and you'll find answers to pretty much any question you have!

scrubbedexpat141

Thanks chief. I'm in that group and read the book too - need to re-read some parts but folded those corners.
It's partly my fault as I need to change my bank address, that should solve the lack of residential address evidence setting up an account. But I'll have a search in that group as well

Appreciate it.

UKCityGent

Scamp

Although ive never read the expat millionaire - have a look at Harry Brownes Permanent portfolio (PP). I think going forward with recessions looming the PP will provide a better balance (and probably lower drawdowns).

csdf

A 25% exposure to gold seems absolutely huge to me. You'd have to be terrified by both inflation and global catastrophe to be that strongly weighted.

UKCityGent

You only purchase 25% of your total investment (e.g $2,500 out of $10,000) and rebalance monthly/quarterly. You could mix the commodities allocation with silver (using a ratio) but it still requires a 25% diversification for commodities.

Other tips/tricks is to use the secondary/minor indices rather than primary index for equities and bonds (use the FTSE 250 rather than the FTSE 100) for an additional alpha.

However do your own research / backtesting etc

csdf

Sure, I get that. I just think 25% is a very unusual weighting; my own portfolio has 2% FWIW.

scot47

M Traditionally peasants in France kept their wealth in Lous d'Or in a metal box buried in the garden. Might be a smart move - if you have a garden. Maybe just use gold jewellery dangling on your person ! (Discreetly) That seems to be the method favoured in the Sub-continent.

scrubbedexpat141

I'm in. Interactive Brokers folded like a cheap suit when I bombarded them with documents.
I've funded the account quickly too and just starting some research on which ETFs to be buying into.

I need to get my other portfolio transferred over from Lloyds as well but not started thinking of that yet.

Here's to being a zillionaire next week.

csdf

What docs did you send in the end? I'm thinking of opening an account there.

scrubbedexpat141

Basically, the issue was I have nothing in my name here with an address on because it's all in her name.

I sent a shitty email after they just replied saying the same thing - send us this or that.
They replied saying - send us a tenancy contract, explain your relationship with that person and give us their passport copy too.
Seemed to work, was opened a few days later and now there's money sat in it.

If you have a tenancy / DEWA bill / anything in your name at your address provided, I imagine it'll be a piece of piss.

UKCityGent

Congrats Scamp

Please tell me you didnt apply for the IBKR Lite app as you dont get the reduced commissions with that

scrubbedexpat141

I downloaded the app last night, but it's not 'Lite' or described that way, it seems to be fine and the faceID bit works well. I'm on an 'IBKR Pro' account but think that's just a normal one.
Got to get back to the research in that Hallam book for some guidance on which ETFs to go for. I crashed last night after work instead of doing it so might just leave until the weekend. Need to work out how much money to keep in a saver with really quick access to, or if I just invest everything in this and take out any for emergencies as needed.