Sold House....What do I do with the money?

[takearisk]

Hi,

We just sold our house in Dublin and living in Oz. As the Aussie dollar is strong at the moment we don't know if we should put in term Deposit in Ireland or just take the hit and invest it here? The rate for TD here is about 6.5%. So we are very confused

The amount we made on house is about 450k does anyone have any ideas what the best thing would be. Also what is the quickest and most cost effective way to get the cheque cashed without loosing to much on transfer fees.

Thank you for your time and any ideas would be a great help

 

[Decani]

Re: Sold House....What do I do with the money??

Naturally, if you don't need all of the money now, you could leave it where it is. The AU$/EUR rate is pretty bad now alright. Nearly [broken link removed]. They're inter-bank rates too. The customer rate is usually not as good (only by a couple of cent per Euro though). It's impossible (for me anyway ) to say which way it will go. There appears to be some relationship between the stock markets and the currency (with people investing in one over the other) but I'm sure currency is a fickle mistress.

As for getting it into Oz, look at OzForex, and MoneyCorp. Shop around. You could also look at some of the immigration websites to see what people did/are doing. BritishExpats.com is one of the larger ones.