The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
Yea, I have no clue what to do with funds that I may be awarded with. Therefore I am seeking suggestions to bring up with my financial advisor.
So against what I have no idea. I just do not want to lose what I have. Like I said, I have no clue what to do with the money but I have heard that it is bad to leave in in a savings account. I have read "Gold Bitches" on the Zero Hedge website, but I have no place to store it.
Certainly I am using personal protectionist language, as I want to protect myself. I will have this check for the rest of my life but if the dollar becomes worthless, I am in a world of hurt.
Jerome's new venture seems to me as a new and lucrative investment opportunity. But I really don't know. Maybe I will risk it as it maybe better than leaving savings in a savings account. "Schiller sprach zu Goethe, Steck in dem Arsch die Flöte! Goethe sagte zu Schiller, Mein Arsch ist kein Triller!"
You have heard from whom that it is bad how?
This is like how I hear all the time that renting is throwing away your money and you should own your home. If I had listened to the clamour of the Beotians and taken a mortgage on a London home in 2006 I'd be in a world of pain right now.
if the dollar becomes worthless, I am in a world of hurt
You live in Europe now, and you say the VA will put the money into a Euro account in a German bank, so what do you care what happens to the dollar once you get the money?
I am seeking suggestions to bring up with my financial advisor
My suggestion is don't talk to a financial advisor. And if you do, don't put your money into any product you cannot figure out (yeah, I mean doing the math and reading the legal small print) for yourself. I suspect if you follow the second part of the advice, meeting with the advisor is a waste of time. The brainless should not be in banking -- Willem Buiter
He may have other sources of income: Social Security, pension, 401k etc that are impossible, or very expensive, to move to Euro accounts.
The financial advisor will do the following: they will ask about current income, age, assets and desired post-retirement income and will advise on a pension plan made of an initial lump sum plus periodic contributions out of income. If any money is left over they will advise on how to increase the capital. They will do a standard "so much percent into government securities, so much percent into corporate debt, so much percent into equities" and so forth with a "low/medium/high" risk-profile adjusted for age and proximity of retirement and will offer a collection of managed funds with various advertised risk/asset profiles.
In other words, a load of hogwash.
Since we haven't heard anything specific to protect against other than insolvency of the custodians of JD's assets, and suitable discussion of deposit insurance has been had... The brainless should not be in banking -- Willem Buiter
Veteran Alone $974
With this new rating I am looking at lifetime payments (as long as the US Treasury is solvent) of:
70% 80% 90% 100$% Veteran Alone $1,228 $1,427 $1,604 $2,673
Lifetime monthly payments "Schiller sprach zu Goethe, Steck in dem Arsch die Flöte! Goethe sagte zu Schiller, Mein Arsch ist kein Triller!"
There is also the possibility, because of the tax treaties, that once I receive my Niederlassung, permanent residence permit here in Germany, that my years of contributing to SSA will count for German retirement insurance. "Schiller sprach zu Goethe, Steck in dem Arsch die Flöte! Goethe sagte zu Schiller, Mein Arsch ist kein Triller!"
Your advice not to listen to any financial adivsor is sound. I can understand Goethe and Schiller and poetry. But when it comes to bureauratic and legal German, it's all Greek to me. It is hard to understand.
So I am like a child, I am like a pensioner with money to take - a fool with their money is soon parted!
I just do not wish to be a fool "Schiller sprach zu Goethe, Steck in dem Arsch die Flöte! Goethe sagte zu Schiller, Mein Arsch ist kein Triller!"
It is possible that this is not the case right now. Banks are still starved of cash, if you can believe it, to beef up their "core capital". So it is possible that certain deposit or money market accounts (even some checking accounts) pay high interest rates. In addition, right now we're experiencing deflation.
I am like a child, I am like a pensioner with money to take
Widows and orphans have no place in the financial casino. So we regulate mutual funds in order to make them "safe" for widows and orphans. But in making them "safe" we make them slow and vulnerable to nimbler market players so they are just like the proverbial widows and orphans. So the widows and orphans lose their money in the casino anyway. So, the moral of the story is: if you're not safe by yourself in the casino, don't give your money to someone else to play in the casino for you. The brainless should not be in banking -- Willem Buiter
Uh ... don't.
There are way too many players in that commodity market with a bee in their bonnet (Gold Bugs) and way too many sharks, with or without laser beams on their heads.
She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre
by gmoke - Jul 4
by Oui - Jul 3 1 comment
by Oui - Jun 30 25 comments
by IdiotSavant - Jun 24 16 comments
by Oui - Jun 25 50 comments
by IdiotSavant - Jun 16 16 comments
by Frank Schnittger - Jun 15 14 comments
by Frank Schnittger - Jun 10 15 comments
by Oui - Jul 51 comment
by Oui - Jul 43 comments
by Oui - Jul 3
by Oui - Jul 31 comment
by gmoke - Jul 2
by Oui - Jun 3025 comments
by Oui - Jun 301 comment
by Oui - Jun 296 comments
by Oui - Jun 2735 comments
by Oui - Jun 2550 comments
by IdiotSavant - Jun 2416 comments
by Oui - Jun 2310 comments
by Oui - Jun 2313 comments
by gmoke - Jun 22
by Oui - Jun 20
by Oui - Jun 1916 comments
by asdf - Jun 184 comments
by Oui - Jun 184 comments
by IdiotSavant - Jun 1616 comments