by Jeffersonian Democrat
Wed Mar 24th, 2010 at 07:05:54 AM EST
On February 24th, a judge at The board of veterans appeals (BVA) adjudicated in my favor. Based off of medical evidence, she granted me service connection for PTSD as a combat veteran. Severe Depression and Anxiety Disorder was remanded to the VA to determine if it was separate from or, as my psychological exam states, secondary to the PTSD.
I have a feeling that another exam is coming.
But this leaves me with a financial problem
I will receive, within the next three months, a back pay of between 70k and 200k euro (I might even be able to afford the next ET meet-up, YAY!, I've never been to Paris!), depending on the disability rating the VA awards me and the actual effective date which can be from 2002 or from 1998 as my attorney is trying to get. This is after the 30% of my award is shaved off for my attorney fees.
Now I have a small problem. I am already 60% disabled according to the VA. My check is direct deposited into my Sparkasse account here in Germany where I live. They will deposit my back pay into my Sparkasse account and it will automatically be converted into euro from the US Treasury.
However, I understand that only 20k euro is covered by the German equivalent of the FDIC, deposit insurance.
I don't know where to put the remaining funds for investment.
Of course I will spend a little to get out of the Gästehaus I live in and rent a small apartment, buy furniture and be a good little "Ikea boy."
But I don't know where to put the remainder. I want to protect whatever I receive and I want to do that through investments.
Please note, I am not asking for investment advice. Rather, I just do not know what investment vehicles are available for me in Europe. I read a comment here not too long ago about the Sparkasse in Germany selling MBS to old grannies on a pension and them losing everything. I want to avoid that at all costs.
So I am asking for suggestions to bring up to my financial advisor about investments in Europe. A list of things to present with her so that I am not totally clueless, especially in the midst of a financial meltdown.
If anyone has any suggestions, I really appreciate it. Again, I am not asking for financial advice over the internet but rather suggestions to bring up with my financial advisor when consulting with her.
Thanks in advance,