If I have 1/2 million cash USD, I would enjoy life and spend it. Take vacations, buy goodies, eat well. You will never know what happens tommorrow, I know serveral people whom past away without any warning signs... One gone to bed one night and never woke up again...51 yrs old.. very healthy, never get sick... Another sat at his living room sofa waiting for his 9 yr old daughter to get ready to bring to school, 8;30 in the morning, his heart stopped and felt asleep for good, 43 yrs old... No use to have all that money when you can't enjoy it???
Please support our advertisers:
you know, have you ever consider owning a small resort? 1/2 million could it in the philippines... This way, you have a vacation how with at the same time an income business...
Please support our advertisers:
Is a holiday home in Phuket strictly an investment? And if you buy in HK and assuming you live in HK and live there what kind of purchase does that make that one?
And I think either one could bring enjoyment or not, so maybe you are enjoying life.
Why not buy part of a bank (divs and potential capital gains) rather than park in the bank (interest)? But to assume you can find the kick butt purchase assumes you know better than lots of others, and lots of others with lots more money..... and assumes a crash in the time that you are still waiting (Warren Buffett suggested, I think, that lots of people have gone bust waiting for the market to correct itself - can you really wait that long for a bust?) and there are lots of people chasing that elusive investment so why will prices dive (esp with relatively low interest rates?).
Why not buy shares in a company investing in Thai propy and/or HK propy?
Lots of choices. Be interested to know what you decide.
Please support our advertisers:
2006
19 yrs ago
First thing to do imho is to buy the maximum permitted GBP30,000 (USD55,000) of premium bonds. I believe they can be held regardless of your nationality/domicile (as long as you don't give a US correspondence address). See www.nsandi.com
At the risk of stating the obvious, you will not get a "very nice property in HK" for US$500,000. Well, not unless your idea of a very nice property is a small featureless apartment in Sai Ying Pin or Kwun Tong.
And with regard to Thailand, I have a few colleagues who bought places there without thinking it through.
1) Nobody wants to live in Koh Samui or Phuket more than five weeks a year - there's diddly to do there (the law of diminishing marginal utility sets it pretty fast with regard to beaches and - um - whatever else you're planning to do there). so it is not a home. You either leave it empty or rent it out (see below) most of the year.
2) So is it an "investment property". Well, again, nobody wants to rent it for more than a couple of weeks, so you have to negotiate and sign 20 or more leases every year. And arrange tenant handovers, cleaning, etc 20 times a year.
Hardly relaxing.
Please support our advertisers:
I guess it depends how long you are going to sit on the money for. The best bank in HK for deposits is the Bank of Scotland. And I'm not just being patriotic! On USD 500K there interest rates are 5.03% this month on a 1 month notice account. I was looking around last year for my clients and this was the best deposit rate I could find.
Please support our advertisers:
First thing to do is change it from USD.
Please support our advertisers:
ceeh
19 yrs ago
In Aust you can deposit with an 'internet only' bank account which will bring you 6% interest per annum. Not a hamdsome return but not too bad either if you want to play it safe.
Please support our advertisers:
Happy V could you tell me where RBS in HK
Please support our advertisers:
2006
19 yrs ago
However, you can get 6% on Sterling OR USD at
http://www.offshore.hsbc.com/1/2/international/savings-accounts/fixed-deposit-account/specialoffer?WT.ac=HBIB_2007_01_02_CAM0_Sale3
Please support our advertisers:
Hume
19 yrs ago
Hi Pinky67, it's not RBS but Bank of Scotland and they are in Jardine House on the 15th Floor.
Please support our advertisers:
Thanks Hume for your reply!
Please support our advertisers:
You must be logged in to be able to reply.
Login now
Copy Link
Facebook
Gmail
Mail