I think this would be the right thing for a save investment. http://www.expat.hsbc.com/1/2/hsbc-expat/products/savings-accounts/fixed-term-deposit/details 14 major currencies, fixed interest, no risk, 1 year time or longer The current interest, you can see here: http://australia.deposits.org/ http://www.deposits.org/ The best % paid on money from that 14 currencies, are currently: - South Africa Rand = about 5-6%/year. - Australien Doller = about 5%/year. If i would be you, i would continue with my current business and grind out 1 million, that you can put that into a fixed time deposit account, for at least 5% a year, and getting the 5% profit every year, what would be $50k. That would be enough for a good living. Thats $4k a month, also a 4 - 5 person family can make a good living with that. Besides that you will always have the time to learn trading. But risking your hard earned money with trading it, is the stupidest thing i can imagine in your situation. ---------------------------- Maybe here is also something interesting for you. http://www.barclayswealth.com/international/savings/long-term-savings/treasury-deposits.htm -------------------------- I dont know any other way, to make more than 5% save a year without any risk, but if there is one, please guys tell me. I will find it anyways. There are a lot of currencies, with much higher interests, but only for people who resident there and the offshore banking only is available for major currencies - unfortunately. ------------------------ All i wanted to say, is that it is probably better for you to keep your money in a save investment, you do not really want to risk your hard earned money and lose it in the markets, while you are realize that trading is not so easy how you thought it is. Once again: Having money, means not that you can be a successfull trader in the financial markets. Best, HTR Good luck and all the best.....
oops, my mistake. I just reread on their homepage and must correct my previous posts. HSBC, doesnt give you even 5%, only 3,5% or so. Damn greedy bankers. Then you need more than 1million for 50k interest a year. Still this is the best way to make save, no risk, money. Except from betting on setups with a 90% winrate. LOL
HSBC not going to give you 5% regardless. and they will charge you pretty big fees.. in order to get their(australian CD's) rate you have to go there(to australia) and present yourself at the branch. and even after that i'm pretty sure they not going to open an account to a foreigner. SPECIALLY from US. and even after that-do you realize that you are exposing yourself to the currency risk? dunno about you,but i still remember the iceland story. the rates was so damn good over there few years ago..but i'm glad that i didn't open an account over there and own some CD's in their currency. here- https://www.everbank.com/personal/foreign-currencies.aspx?tab=cds you can have same s**t here,from local bank. but again-after ll fees and spreads-you will have same returns in range of 2%(which i can get from my local bank money market account, FDIC insured) + same currency risk.
I told you, they only give you 3,5% for australian dollar. No, you can make all online, and invest in their offered 14 major currencies, thats why it is offshore banking, they have their headquarter for this in Jersey, so much i have read. Offshore banking branches are always in tax haven countries, otherwhise it wont work. I think everybody can open such an account, a time deposit fixed interest thing. Yes, mostly as US citizien you have bad cards, in things like this, but if you search i am sure you will find a good investment. The currency risk: thats i quess, why they only offer major currencies. Nobody like me, who is interested in investing in other currencies, want to do it in countries like iceland or tadschikistan or the philliphines or whatever. I dont have money in such an account yet, but its on my agenda. Now, i just make more with trading and not before i can put aside 5M Euros for that, for getting at least 3% a year what is then 150k a year, without currency risk. Australia will not blow up. Of course i also have to pay tax on that, maybe about maximum 30% or so, is then - 50k = net profit = about 100k a year. I truly belief that also us citizien can invest in offshore banking currencies fixed interest deposit accounts. Do you know any better way for a zero risk and save gain investment. I would like to know about it. Thank you, Best HTR
What means CD? I see 2% is not bad, better as nothing. But i am sure with offshore banking you can get more %. 2% is ok. 3% is good. 4% is great. 5% is wonderful. more is a dream. LOL
But hey, theoretically, if you have 2 residences, lets say one in USA and second in Australia and you make Australia to the main one. Then you should get the 5%, like a normal australian citizien. Or not ?
---Australia will not blow up.----don't be so sure about that. i guess you still missing my point. imagine american,who want to buy CD's in australian dollar..he\she have to convert US dollars into australian,buy CD, hold let say 10 years and get whatever rate is. now at the end of this period you have to convert your aussie dollars back into US, according to current rate. which could be up(and you got a home run,pocketing interest + currency appreciation) OR down,erasing your interest % from your cd. unless you know,where aussie dollar will be 10 years from now. (which i don't).that is the risk. while ago i was thinking about similar approach with south african CD's,but because of those factors above abandoned such idea CD-synonym to a term\time deposit http://en.wikipedia.org/wiki/Certificate_of_deposit
that's only theoretically. we discuss this many many times here,on ET. pretty much every year. unfortunately-no such thing as a risk free. specially @ 5%. ask bernie madoff's clients.
10 years is too long, yes then you have a really huge currency risk. I would never put the money in longer than in as 12 months. There are still a curreny risk, but its acceptable small, i think. The mission is to grow the money fast without any risk or as small as possible.
Thats not true. If you have your tax paying residence in australia, you get: http://australia.deposits.org/ 5% a year, without risk. There is no risk, thats written in their contract, they dont get broke, they are big banks. Lehman Bro, does not count in this thinking image here. Important is only that you have your tax paying residence in that country, i dont know any other way. There are also some countries, which allow you two citizienships. Still i think offshore banking is the best, for getting at least 3% a year, with zero risk, for 12 month, and on and on and on. Did you get my point? http://www.cua.com.au/personal-banking/savings-and-term-deposits/term-deposit I know there are always ways to get it someway better, i just have to find it. LOL