blonde poker forum

Recently I found myself with a fair'dinkum amount of cash in my possesion. *All legal and above the law, I may add*

The problem is its in America and in $, the amount is life changing for me and my wife so we want to be very careful how we manage it. Now what with the current exchange rate over $2 to £1 should I sit on it? or bring it across right away?

I don't need the money for anything right away but it would pay of mortgage etc etc..

Any advice from currently type experts welcomed.

Ta

I'm sure with the WSOP coming up some people may be interested in purchasing a few dollars from you.

If your at BB4 I'll have a chat with you as I may being looking to aquire some.

It all depends on your attitude towards risk.

Put it this way, if you won £100,000 on the lottery, investing all of it into dollars on a short term currency play is very high risk.
Consequently unless you want a high risk play you should switch some or all of your dollars to sterling.

Though sods law dictates whatever you do it will be wrong.

if it's paying of a large debt here (your mortgage) then surely what you save on interest payments on that over the next few months will make it worth just converting it now rather than gambling on the $ getting stronger over that period (which it may, or may not, depends on lots of things).

Caught a glimpse of the front page of the money supplement as I tossed it in the recyling bin.

It seems to think that now is the time to take advantage of the $2 pound.

to be frank, if it is a life changing sum of money then you really should seek some professional advice, not ask a bunch of degenrate gamblers on a poker forum.

 :goodpost:

true but come on Laz..what would you do? ;)

BTW..the dollar can't stay this low forever. I'd hold off on trading them in for now

If I seek advice out it costs me $ why bother when I am intially just asking for other people's opinions :)

No rush.

In that case, we need specific information.

1: How much is it?

2: How did you get it?

3: What is your wife wearing?

1. Lets say around $1m.

2. Inheritance.

3. Red Thong.

OMG! All three of those answers are just what we wanted to hear.

My advice is, pinch yourself.

Enjoy it fella - that's my first bit of advice.

Like Dale said, if you can pay your mortgage off now, the money you'll save on the interest payments will cover any value rise in the dollar to the pound.  Then you can think about what to do with the rest.

Hope it makes your life better/easier. :)up


(Oh, and if you're coming to Luton, mine's a Guinness.)

Lets say

1. I love you

2. I'm very bendy

3. snap

lol

I think the rest of us should now leave this thread so Dingdell can be alone with the money Acidmouse.

She became so excited, her thong snapped. (apparently)

I am soooo soooo glad my wife does not read these forums :P

I promise i wont tip her off for 20%... ;whistle;


But otherwise:

i would buy american stuff with it cos it is cheap:
i would buy stocks. probably oil, cos it is solid. wait a little maybe for it to dip. sell off when they go up (Iran gets invaded or something) and the dollar strenghthens.
Stocks I like on quote.yahoo.com are SLB RIG WFT DRQ. Especially SLB since it is blue chip and DRQ since it is cutting edge (pardon the pun).
All just my opinion of course.
$2:£1 is absolute cack and there is no way I even want to cash out my poker stacks right now. There was a delay from one site and it cost me £40 as the dollar weakened.

Makes for a nice bankroll.....you can always waist what you don't need for poker eh?
 ;whistle;

Don't listen to this

Go to Vegas

Play in the big game for a few hands

Triple your money

It's a simple plan really, and as far as I can tell has no flaws :)

that

Bit of an assumption when you're talking about this sort of money - if the dollar strengthened to 1.8 to the pound, you'd be talking about gaining £55k - that's some mortgage interest!

I'd agree you should talk to someone professional - they might not know for sure which way it's going to go, but they could at least draw up some sort of management scheme and tell you what sort of risk/reward you'd be looking at.

I didn't realise it was as much as that.
Can't you just ship over the amount needed to pay off your mortgage just now? It's rarely a good idea to have a large debt if you have the cash to pay it off.
I really don't think the dollar will stengthen to anything like 1.8 in the short term, not that my opinion is worth much to you, but whatever you're better off getting some professional advice at this stage.

Oh yeah and invest some in pokah  ;D

ur thinking the wrong way, the money shouldnt come to u, u should sell up and move to the us. u would make a killing with ur pounds and have ur dollars when u get there.

genius

Moving to the US, investing in the US, buying stuff in the US are all good options I think. But can you spend a $1 million.

I wouldn't pay off the mortgage necessarily. A mortgage is a great way to borrow and it's possible to invest you money better than to pay off a mortgage. Get a financial advisor. Go into some banks, they will give you some free advice if they think you are going to move $1 million to them.

agreed. there are just too many variables to get sound advice from individuals here. the advice of paying off your mortgage might be good for one person, but completely wrong for another individuals circumstances.

I would be more inclined to go with a paid "whole of market" financial advisor - difference is that you pay him out of your end rather than him earning comission on the products he sells you. This may seem strange, but has two main benefits

- He can give unbiased advice, and not lead you to products he prefers due to higher commissions.
- Your growth products will grow quicker and earlier due to there being lower setup costs on the front end.

I'm sure there are a few high "net worth" individuals on here who could probably point you towards a decent advisor.

I would be very wary about investing in the US at the moment. the economic situation is very unsure.

Cheers, we will go see someone over the next few months.

As for some of the suggestions, no i don't play poker for anything but a social thing (i.e i am shit) and no i dont want to move to the states yet. Tempting as it may be.

I'm finding now a good time to buy poker books from US sellers, perhaps you could buy the whole shop.

Well I am glad I didn't ship most of my money over from the states, I can't say the slump in the Uk Economy is worrying me :) as the pounds value against the dollar seems to be going down daily!

(http://www.forecasts.org/images/exchange-rate/pound.gif)

When I first had the decision is was 2:1 now the current Rate is: 1.8318 =  ;kev;

I guess I can wait until next year and see where abouts we are then. Is it true that the Slump in the USA economy/housing market would seem to have bottomed out and what with the Presidential elections I am sure that will be a boost for their economy? Roll on 1.5 to the pound!

yay pay rise!

I'll settle for just 10% of current profits, thanks. Stars, Full Tilt or Blonde, I'm easy.