With £161 Million to bank would you want to keep it in any European bank? Derek
- posted
12 years ago
With £161 Million to bank would you want to keep it in any European bank? Derek
Hm, where the hell *would* you put it - invest in gold bars?
With the government's guarantee scheme only running to £100k per couple per bank, you'd need to find 1600 independent banks - which may be a bit of a challenge!
You wouldn't keep it in a bank at all. You'd invest it in blue-chip shares, land, government bonds, etc.
"How do I store my wealth" is not a new question, nor one that has never been answered. The most important thing the lottery winners need to do is appoint the right people to manage it for them.
Mark
Banks were regarded as Blue Chip shares fit for widows and orphans. Depends on which countries Bonds, can any now be regarded as safe? People who invested in undated stocks like War Loan have yet to be repaid. Are Swiss banks immune from an EU meltdown? Derek
Any money in an Irish bank will be fully guaranteed by their government, should the bank fold.
Where will the Irish government get the money from? About three years ago we had accounts through the Post Office with an Irish Bank. They put every obstacle in our way when we wanted to close it. In all it took six weeks of E-mails and phone calls. We complained to the FSA and each received £50 for our troubles. Derek
It's one thing for a bank to go bust, another for the government to go bust. Same thing in the UK, if a bank goes bust, where does the government get the money to compensate depositors? They may not be fully compensated of course, merely in line with that provided by law, but compensated to some extent they will be, and the government will have to find the money somewhere.
I thought the PO/Irish saving accounts would be underwritten by the UK govt to £85k? In much the same way as the Icelandic banks?
Rob
Why. At their age and health they hardly need to chase capital growth
tim
Theu don't need it to grow, but they do need it to be secure. Unless they're planning on a "spend, spend, spend" spree, they still need it to be planning for at least the medium term.
Mark
The entire thread is irrelevant - the proper question is: why the f*ck did they choose to go public?
What good could ever come of announcing you have that much wealth?
Your kids are prime targets as kidnap victims - I want £20m please or your daughter's head gets sent to you.........if you've got £161 million, £20m is a drop in the ocean and you'll pay it without even a second thought.
EDIT: I understand they've "fled" to Spain because the begging letters / visits have started....
In message , snipped-for-privacy@webtribe.net writes
If publicity was not a condition of the Lottery they have been incredibly stupid.
Indeed. Look how brilliantly Camelot have protected some of the other really big winners who went for anonymity. The Weirs have been stupendously naive in going public. It's like the old "is it better to be rich or famous" conundrum. The answer has to be rich, because then you can afford to control how famous you are. It just doesn't work the other way round.
Sadly, plenty of talentless E-list celebs have been fairly successful doing it "the other way round".
I'd have kept silent for a long time, then "win" a couple of million on the lottery and tell friends and family that. A few million is a lot safer than
161 million. I'd also be spending quite a lot on security for myself, my friends and family. Serious self defence training for everyone, quality security on houses etc, personal guards.I'd also buy a house next to a chavvy footballer and become their nightmare neighbour, just for giggles :-)
Yup; HSBC.
So would I, although probably not absolutely all of it.
If circumstances ever got so bad that HSBC went down there would be far worse things to worry about.
Chris
Does the Irish government really have access to enough money to guarantee deposits in all their banks?
Robert
How about Swiss, Norwegian and Australian banks? Derek
Irish government fully guarantees deposits.
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