Investing in Euros

[Abelman]

How do you do this? I've no clue and I'd really like to now in simple layman's terms.

[sweetheart]

1. Open a euro savings account

http://www.nationwideinternational.com/accounts/accounts_euro_glance.htm

[DBoon]

5. What about the traditional Swiss bank account

Are these worth looking at? Is the reputed banking secrecy all it's cracked up to be?

[sweetheart]

7. It depends on how much money

If you're extremely wealthy, then there are advantages in some areas
of the world for "private banking". Primarily, it is a tax dodge to
make money offshore and not report the profits to the IRS, however
reciprocal treaties (they say for terrorism) are really to attack
the financial privacy of people who are shifting monetary jurisdictions.

If you've that much money, then you should probably look in to offshore
trusts, where you are not "owning" the investment, rather trustees
do,
and you advise them on your interests.

Swiss banks are no better than canadian ones these days, and you
really can choose between any bank that will offer offshore services
to non-nationals. Many such banks have minimum deposit amounts.

If you just type things like "euro offshore accounts" in to google,
you'll get a blizzard of information.

If you really want to get your finances out of the eyes of american
nazi-police scrutiny, then best to look at hongkong and chinese
banks that are anathema to cooperating with US authorities. Same
same, any bank can give you a euro account... just like banks all
over the world offer dollar accounts.

Honestly, this is really a "savings" account, as you will pay exchange
fees to deposit your funds, and changing money back will penalize
you... if you put the funds away to protect a nest egg, that's
another thing... and then really, you should spend a few hours
googling.... all these places explain their offerings on the web,
and you need only read and study the possibilities.

Rhetorical questions to consider:
How long are you looking to invest?
Are you potentially planning to realize the profits in euros?
(moving to europe)
Are the funds already offshore?
There are on-shore euro accounts as well, but IRS monitored....
If lots of money are involved, then, as another poster said, there
are deposit vehicles like CD's available.

http://www.wealth.barclays.com/BRC1/jsp/brccontrol?task=articleint&site=int&value=135&menu=39

[Cleita]

8. No interest really. A bad investment unless you are

hiding ill-gotten gains, then the privacy is fabulous.

[UpsideDownFlag]

2. damn good idea. i wish i had money to invest. nt

[Nite Owl]

3. Look at

www.everbank.com

They have various vechicles for Euro investing. CD's etc
I have an account there but haven't done anything yet but thinking of calling them tomorrow.

You can also got some options pegged to the Euro

[high density]

4. I've been thinking of doing the same thing

I have some savings and I'd like to put at least a little money away in a different currency just in case.

[alwynsw]

6. Currency speculation can be very rewarding. It can also wipe you out.

Invest only what your personal loss threshold will permit.

In no case should more than 5-10% of funds available for investment be in currency or precious metals/gem speculation.

A good rule of thumb: subtract your age from 100 - that's the maximun to place in moderate to high risk stocks, including currency speculation at any time.

Bear in mind that while you can also make a great deal of gain in currency speculation, you can also lose in currency faster than almost anywhere except commodity futures.

Buying stocks or mutual funds in a Euro based vehicle may be the safer choice.

[sweetheart]

9. considering holding dollars as speculation

Your argument could be turned around to suggest that 90% of your
funds should get in to euros as fast as possible.

The euro is a very stable reserve currency and is hardly currency
speculation. The dollar is currently closer to that "label" truth
be told.

Your reply is more for stock betting or quick arbitrage, but for
a euro savings account, not so applicable.

I presume the original poster wants to keep the value of their
savings, even when the dollar plunges. Had he/she euro invested back
a coupla years back, when DU'ers like myself were forecasting this
dollar decline, they'd already be up by 30%. Expect the dollar to
fall 20% more in the next year, at least. Considering that such
savings also pay interest, it is a shrewd move.

Bottom line, without knowing the specific investment needs, we're
pissing in the wind. Financial advise is usually given in a very
formal manner after learning the precise savings needs of a client.
To spout generalisms on the web is a guaranteed way to be mostly
wrong most of the time.

:-) Good luck ye wise investors.. :-)

[alwynsw]

11. Perhaps you should re-read my post.

What is there is sound advice. It has worked quite well for me and many of my associates. By working within those basic guidelines with much assistance from investment professionals, I was able to comfortably retire before age 45. Futures, currency, commodities, and stocks are all part of many efective portfolios.

The best hedge available is to invest in vehicles funded in several currencies. I use U.S. Dollars and Euros. I did use Swiss Francs.

I did omit the most important item, thanks for reminding me. Always work with an investment counselor that you trust and are comfortable with. Also, get you attorney and CPA involved if you're looking at a substantial investment.

[sweetheart]

12. yes

I made assumptions about the original post being for someone doing
just small deposts... and then came to my senses in the last
bit.

So much depends on where one is in life, and how (and where) one
plans to realize the investment. In this regard, it can be wise to
choose your investment counselor where you plan to realize the
results, as no american based advisors or tax attourneys can legally
tell you how to get beyond the reach of the IRS. If one is
planning to retire abroad, its an important factor.

That is the caveat i would add to the "professional advise" wisdom.
Pick your advise from the place where you plan to ultimately settle.

[alwynsw]

13. Agreed. n/t

[FloridaPat]

10. Someone talked about a way you could put your IRA into Euros.

I also read that Bush is for a weak dollar to keep the trade going. Of course when the dollar hits bottom, I wonder what we'll be trading. I have never benn so scared in my life. Of course, I know a whole lot more about things then ever before. I really have no hope for the US for a very long time if ever.