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Acidmouse
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« on: April 22, 2007, 09:18:39 PM » |
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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
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thediceman
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« Reply #1 on: April 22, 2007, 09:35:33 PM » |
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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.
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ScottMGee
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« Reply #2 on: April 22, 2007, 10:59:50 PM » |
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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.
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Dale
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« Reply #3 on: April 22, 2007, 11:26:55 PM » |
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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).
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thetank
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« Reply #4 on: April 22, 2007, 11:29:46 PM » |
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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.
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For super fun to exist, well defined parameters must exist for the super fun to exist within.
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lazaroonie
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« Reply #5 on: April 22, 2007, 11:44:44 PM » |
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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.
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kinboshi
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« Reply #6 on: April 23, 2007, 09:30:30 AM » |
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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.
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'The meme for blind faith secures its own perpetuation by the simple unconscious expedient of discouraging rational inquiry.'
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boldie
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« Reply #7 on: April 23, 2007, 11:47:33 AM » |
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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.
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 |
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Give a man a gun and he can rob a bank, give a man a bank and he can rob the world.
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Acidmouse
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« Reply #8 on: April 23, 2007, 01:09:20 PM » |
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If I seek advice out it costs me $ why bother when I am intially just asking for other people's opinions  No rush. |
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RED-DOG
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« Reply #9 on: April 23, 2007, 01:21:19 PM » |
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If I seek advice out it costs me $ why bother when I am intially just asking for other people's opinions In that case, we need specific information. 1: How much is it? 2: How did you get it? 3: What is your wife wearing? |
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The older I get, the better I was.
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Acidmouse
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« Reply #10 on: April 23, 2007, 01:58:16 PM » |
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1. Lets say around $1m.
2. Inheritance.
3. Red Thong.
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RED-DOG
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« Reply #11 on: April 23, 2007, 02:00:49 PM » |
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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. |
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The older I get, the better I was.
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kinboshi
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« Reply #12 on: April 23, 2007, 02:08:52 PM » |
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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.  (Oh, and if you're coming to Luton, mine's a Guinness.) |
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'The meme for blind faith secures its own perpetuation by the simple unconscious expedient of discouraging rational inquiry.'
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Dingdell
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« Reply #13 on: April 23, 2007, 02:10:55 PM » |
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1. Lets say around $1m.
2. Inheritance.
3. Red Thong.
Lets say 1. I love you 2. I'm very bendy 3. snap |
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thetank
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« Reply #14 on: April 23, 2007, 02:16:48 PM » |
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lol
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For super fun to exist, well defined parameters must exist for the super fun to exist within.
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