NurseNinja

i mean not literally, but how do you invest it? as an expat I understand that ISA's are off the table and am looking to invest in a broad portfolio, but a google search turns up way too much crap to determine what is legit and what isnt, nor does the idea of going to a saudi accountant apeal.... help?

mentalist

Send it to me. We get 11.25% annual interest on a 9 month Fixed Deposit account in an overseas bank. Anybody getting more?

kittycat1

now mentalist I would have had my money on you having your cash stashed in your matress...

soukie

Is that in Nigeria?

Desert Dubliner

That's surely huge risk 11% on a deposit.

Millhouse

In what currency? One that is devaluing against the dollar at around 11.25% every year I assume...

mentalist

As I said, it's actually 11.25%. Its simply called a Fixed Rate deposit so hardly any risk whatsoever. As for currency devaluation, its equally likely to appreciate in value against the US dollar. Better than the 0.1% offered elsewhere. I'm still waiting to hear your more profitable alternatives.

smallpiff

The fixed rate deposits in Icelandic Banks were "hardly any risk". Agree though that the US dollar may not necessarily persist as the global reserve.

Has the original poster thought of Gold? It avoids the risks of fiat currency. At some point when your home economy is on its knees swap gold for fixed assets such as houses, farmland, ammunition etc.

Millhouse

but what currency is it?

Austrobrit

Internaxx

soukie

I thought you were joking! So where is this investment based?

Desert Dubliner

I am afraid it's not as simple as that. To give you a return, the bank has to invest into instruments yielding even more than 11.25% they give you. I have a feeling you have no idea how it works and simply believe that whatever is called a 'deposit' must be safe. But when the yield goes much above of what can be gained by holding bonds then the alarm bells begin to ring.

NurseNinja

So everyone just invests in cash deposits? or dosent want to tell me? while 11% sounds insanely good i was hoping for maybe a website URL? a corporate listing i can look into... a wiki page to look up the nigerian prince to see if hes legit

Desert Dubliner

Nurse Ninja, financial advice is not that simple. What is the purpose o saving, risk profile, are you saving for car, holiday, retirement, house? How much you want to put aside, in what period and what yield / risk you expect.

The Dean

He's not answering, is he......... avoid. That one has 'high risk' tattooed on its forehead...........

I have been working as a professional in the interest rate markets for over thirty years, and wouldn't dream of 'investing' in something that appears to give you a return that, by modern low interest rate standards, is simply too good to be true.

Mentalist, tell me more - I may be able to save you from a terrible fate.....