markmurphy
25th April 2007, 10:36 PM
Hi all,
My wife and I are arriving in August this year from the UK. We are just completing on the sale of our two flats (converted our house into them for the extra £££'s it gave us).
Luckily this money will pay off our mortgage here and leave us with a nice profit.
My question is, what to do with the cash? I want to be as safe as possible with it and also to try to have the investment grow as much as possible too.
I also want to be able to get to it if I need to in case we decide that we miss our family / friends too much and end up coming back to the UK :-(
I see it as having a number of options:
a) stick it in an instant access high interest savings account in the UK. Not necessarily great as inflation is high and unless we can find >6% rate we will loose money (in real terms) according to Radio 4!
b) stick it in a locked in savings account in UK. Better rate but might have to leave it there for 3/5 years.
c) a or b in NZ. Obviously will have to move the money at the right exchange rate time and hope that if we do go back the exchange rate is still favourable.
d) buy a house in NZ and hope it's value increases more than we would make in a savings account (again I am planning worst case scenario of having to move back to UK). We can possibly be mortgage free or have a small one and so we'd be more insulated from interest rate rises.
e) blow it all at bar / casino.
I know I'll need to talk to an IFA (if I can find one that will look into NZ investments) but I thought that many of you would have had similar problems and might have some suggestions. Any help is greatly appreciated!
Mark
My wife and I are arriving in August this year from the UK. We are just completing on the sale of our two flats (converted our house into them for the extra £££'s it gave us).
Luckily this money will pay off our mortgage here and leave us with a nice profit.
My question is, what to do with the cash? I want to be as safe as possible with it and also to try to have the investment grow as much as possible too.
I also want to be able to get to it if I need to in case we decide that we miss our family / friends too much and end up coming back to the UK :-(
I see it as having a number of options:
a) stick it in an instant access high interest savings account in the UK. Not necessarily great as inflation is high and unless we can find >6% rate we will loose money (in real terms) according to Radio 4!
b) stick it in a locked in savings account in UK. Better rate but might have to leave it there for 3/5 years.
c) a or b in NZ. Obviously will have to move the money at the right exchange rate time and hope that if we do go back the exchange rate is still favourable.
d) buy a house in NZ and hope it's value increases more than we would make in a savings account (again I am planning worst case scenario of having to move back to UK). We can possibly be mortgage free or have a small one and so we'd be more insulated from interest rate rises.
e) blow it all at bar / casino.
I know I'll need to talk to an IFA (if I can find one that will look into NZ investments) but I thought that many of you would have had similar problems and might have some suggestions. Any help is greatly appreciated!
Mark