9
   

When is a good time to withdraw savings and move them to EU?

 
 
dagmaraka
 
  1  
Reply Mon 11 Aug, 2008 03:24 pm
hamburger, i did understand that ;-)

i have until february to figure it out, until then, i will work on adding money to my savings and learning about investment, diversifying, whatnot.

eh, gotta run again

deb, i'll let you know when i post the chapter i think you'll be most interested in. (on working with 'difficult' groups)
spendius
 
  1  
Reply Mon 11 Aug, 2008 03:33 pm
dag--

I couldn't comment on that amount sensibly but shoved into a corner and taking no responsibility I might remind you of troubles in Georgia will have caused certain offices to be lit up all night trying to figure out potentialities in relation to the market with which we are concerned here.

And there's Pakistan to worry about. And a few other things. In other offices.

For us, as Bill said, it's the gut to heed. I told you mine.

There's gold at about $850 an ounce. Plenty piled into that three or four years ago. Phew! How time flies. And the rest is lies.

But, being Uncleish, we, due to another bubble bursting, have nationalised one of our banks. Now that's as safe as you can get aside from burying gold in the hills: as many have done in the past. Northern Rock it is named. Some rock eh?

It's ironic really. First run on a bank in over 100 years and it's called after not only a rock but a northern one too.

They pay 6% I believe and they guarantee your money. Assuming the Government remains in being. Which I think it will.

Of course, in there, your capital amount would fluctuate with the exchange rate between £s and $s and thus also Euros depending what you ask for on withdrawing.

A stiff drink and a fag eh?
0 Replies
 
spendius
 
  1  
Reply Mon 11 Aug, 2008 04:57 pm
Settin' Aah-aah leaves it in I gather.
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spendius
 
  1  
Reply Mon 11 Aug, 2008 05:00 pm
Which is a mug's game.
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dagmaraka
 
  1  
Reply Mon 11 Aug, 2008 07:08 pm
spendius, i do worry about Georgia (having friends and colleagues from there) and Pakistan (ditto) very much, but I have no clue what it will do to any market. Of course i can employ imagination, but that's about it.
And gold at about $850 an ounce? If you told me that at a reception, I would shake my head gravely and offered to fetch a glass of champagne...or skillfully changed conversation to something entirely unrelated, perhaps offering that gold should be measured in grams and really, why doesn't everybody drive on the right side of the road already...... but i really have no idea what that means.
i feel like i should nod and know what conclusions to draw out of all that and deal with my finances accordingly, but no conclusions are crystallizing in my head.
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dagmaraka
 
  1  
Reply Mon 11 Aug, 2008 07:09 pm
i do know that 6% is better than i can get at my current bank, that much i know.
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dlowan
 
  1  
Reply Tue 12 Aug, 2008 03:23 am
dagmaraka wrote:
dlowan wrote:
Er...to interpolate irrelevant (to this thread) material:

Daggles, are any of your papers readily available online?

If so, might you pop a url or 2 here, or in a PM?


I'd be interested!



One of the chapters I wrote recently (on Slovak citizenship) is available here:
http://www.centerforconciliation.org/ReadingRoom.html
Also, the newsletter there are put together by me. Not that they are too fascinating, those are mostly updates on our work at the Center.

Working on a new issue of newsletter now, and will be putting another chapter up there, so check back for updates.
Also working on an entirely different chapter, based on my diss research right now, that I can email to you in a week or two, if you feel particularly masochistic.
I'm also easily google-able: Dagmar Kusa is my name. No secret, it's been posted on a2k several times. I've no secrets to hide.

I'm pickled tink by your interest :-)


Thankee...looking..

Email good....googling also will happen.

That tink shall be well pickled!
0 Replies
 
dadpad
 
  2  
Reply Tue 12 Aug, 2008 03:41 am
Just so you dont feel so bad Dag.
Part of my superannuation (retirement) investment reads like this:

opening balance: 31 dec 2007 $62889.04

Closing balance: 30 june 2008 $47030.68

a drop of almost $16,000

It doesn't matter to me as I cant access it until age 60 anyway so I'm not stressed about it.
0 Replies
 
talk72000
 
  1  
Reply Fri 21 Nov, 2008 12:22 am
@dagmaraka,
Here are my two cents worth:

The US economy is in deep trouble. It must lower its interest rates to avoid a deep recession. There will be inflation as money will be printed and the financial system will be fixed. The infrastructure program will come on stream and the economy will start perking up. On a year or two the US economy will be strong again as the US economy is the source of much innovation in the computer high tech sector. Defense spending on advanced military systems helps the economy. The Internet was the result of the Defense Department spending called DARPA which laid down the foundation of the computer network. The TCPIP protocol was developed. Probably the auto sector will be helped in some form Washington does not want to lose the auto sector.

If you took a course in investing there is a recommendation as to your age and the kind of portfolio you should hold. The portfolio is the word they use to call your entire financial holdings. It depends on your earning capacity. If you are young and have a lot years to make money then it is suggested that you put 30-40% of portfolio on a safe investment that is a bond or certified deposit account. Then they recommend 30-40% on blue chip stocks i.e. big name companies like IBM, Microsoft, Disney, etc. (At the moment stocks would be good to buy at rock bottom prices as they will pick up when the economy recovers. Better wait till they reach near bottom. However, you should check their debt load as that could be their undoing. Those big name companies with high debt loads are the ones teetering on bankruptcy as they tried to use loans for operational expenses and expansion. Avoid companies using loans for operational expenses as they are mis-managed.)

Then the remaining 10-20% go for high risk stocks companies that are in their infancy but grow to be behemoths like Google was a few years ago and also Dreamworks. You have to know the founders and what they achieved.

Those close to retiring or whose earning capacity are limited should go for the no-capital loss feature i.e. Government Bonds, Certified Deposits, real estate and the like. With the US real estate at a market low one could pick up some real estate dirt cheap and hold it till the economy comes back up. Then rent it or sell it. The infrastructure program will start within 6-9 months of Obama's Inauguration. The economy will start climbing up. You'd be laughing.

At age 30 you could leave your deposit and build on your other portfolio in maybe some riskier stuff as you have another 35 years of earning power left.
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Thomas
 
  1  
Reply Sun 23 Nov, 2008 07:41 pm
As much as I hate to admit it, Setanta's advice looks much better today than mine does. It's a good thing Dasha didn't listen to me.
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cicerone imposter
 
  1  
Reply Fri 28 Nov, 2008 10:09 am
I believe the best strategy for CDs is to ladder them over time periods.
flyboy804
 
  1  
Reply Fri 28 Nov, 2008 10:27 am
@cicerone imposter,
cicerone imposter wrote:

I believe the best strategy for CDs is to ladder them over time periods.
I"ve been doing that with T-Bonds and notes for 25 years. Until a few years ago I still had a couple with double digit "coupons". In the last few years, as they came due, I have reinvested most of them in T-Bills and CD's due to better yields on the CD's even after factoring in state and city taxes on them. I had planned on starting to put more into governments shortly, but with the 10 years' yield down below 3% for the first time in I don't know how long, I'll be rethinking that.
cicerone imposter
 
  1  
Reply Fri 28 Nov, 2008 10:29 am
@flyboy804,
Shorter term seems to be in order in this market.
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Thomas
 
  1  
Reply Tue 10 Mar, 2009 12:44 pm
I had to think of this thread as I was doing some banking stuff today. Well done, Dasha! You turned out to be right.
0 Replies
 
cicerone imposter
 
  1  
Reply Tue 10 Mar, 2009 01:25 pm
@dagmaraka,
I was scrolling back on this thread, and dag posted this gem that proves to me that she knows about financial responsibility. Too many people forget the simple rule of financial security.
dagmaraka
 
  1  
Reply Tue 10 Mar, 2009 02:35 pm
@cicerone imposter,
what gem? me? i don't know nothing. i haven't done anything. i'm innocent.
dagmaraka
 
  1  
Reply Tue 10 Mar, 2009 02:37 pm
@dagmaraka,
...but this thread is actually relevant again. i closed my CD account and while themoney is still sitting in the same bank in a savings account, i would like to move it soon - buying an apartment in slovakia, yikes.
cicerone imposter
 
  1  
Reply Tue 10 Mar, 2009 04:07 pm
@dagmaraka,
dag, Aren't there some questions as to Eastern Europe countries remaining in the European Union?
dagmaraka
 
  1  
Reply Tue 10 Mar, 2009 04:09 pm
@cicerone imposter,
hmm? not that i know of, plus slovakia is Central Europe Mr. Green and we got Euro from 1st of January - no rolling that baby back!
cicerone imposter
 
  1  
Reply Tue 10 Mar, 2009 04:15 pm
@dagmaraka,
Maybe not as bad as I thought; I must have read something recently about this issue about Eastern Europe. Can't seem to find it now.

Quote:
Currency Issues Weigh on Eastern Europe

Article Tools Sponsored By
By JUDY DEMPSEY
Published: February 17, 2009

BERLIN " A new dividing line is settling across central Europe with economic repercussions that are already painful and could potentially be disastrous.

Rather than being based on ideology, the division this time is based on countries that use the euro and those that do not.

Only two out of 10 of the newest Eastern European members of the European Union, Slovakia and Slovenia, are members of the 16-nation euro zone. And the other eight countries are desperate for help as their companies and economies are buffeted by currency fluctuations and declines.

The European Central Bank, which oversees the euro, puts money into the system by lending against collateral, and since the beginning of the current economic crisis, this practice has expanded vastly.

While euro zone members have priority, such lending also has become broader. British banks have benefited through their euro zone subsidiaries, and the central bank has even provided loans to central banks in Poland and Hungary.
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