What should I do with my money?

[bkjmiller]

So I've saved up some money...

I'm from the UK and was hoping to invest it using my bank accounts there as a base. But ISAs (tax-free saving) and everything else seems to require UK-residency status - which I don't have.

Doesn't get any interest in the bank here... What to do?

[Paul11]

Put your money in a bank (like Schwab) that is a money manager. then on-line you can invest in international stuff, US treasury notes. Buy some remitences, send money home and have your folks invest for you. Buy some government savings bonds, if UK has them. right now they should be at a higher rate than CD's or bank accounts. You could buy gold, which has an international value and usually increases. these are just some ideas, and I consider myself rather ignorant of economics, but the older you get, the more you learn.
Sit down with someone involved in banking or investment anywhere. Most people are rather fond of imparting their knowledge when asked because people feel good about feeling like they know something and can help someone. Most decent investment banks have branches in Japan and include free counseling of this nature (Schwab, Merill Lynch. maybo some Brit. companies you are mor familiar with!)

[timelesssymphony]

and this has what to do with living in Japan?

[Paul11]

The dude might be living in Japan and wants to put his money is a decent bank that earns more than .5% interest, like a bank in Japan. But how to get money home? Remittence? Wire transfer?
This is an important topic for people who live in Japan and just beginning to consider personal economics.

[alextokiwa]

Hello bkjmiller
You said you have some money saved and you want to put it in a bank. When you have some money the general idea is to put it in a bank with high interest rates so you can receive the percentage of the interests. That's the basic, but if you are updated with the inflation problem around the world, specially in the states, Uk and europe, and...also japan, then to put the money in a bank is almost sure and you will receive the interest whatever it may be, but your money will have less value and you wouldn't be able to buy the same things in one year that you can actually buy today.
Also you have the interest but right know the interest rate in UK is at 5%, in Japan is at 0.5%. Let's say you have 1000 pounds and you put it in a Uk bank, in one year you wil have 1.050 pounds, only 50 pounds for one year, if it is in Japan, you can imagine.
So my advice is that you should rethink your goals and reconsider your investing options.
There is some investment alternatives that you should lookout, and some of then risky but with potential returns. The stock market right know is in crisis, with ups and mostly downs, government saving bonds and US treasury Bonds are for a long time return, the gold market like almost all markets is unstable because of the high oil prices, that in words of George Soros, an American financial analyst, is forming a bubble effect, and everybody knows what happens with this kind of effect.
But still there are other options that you could check and maybe you'll find what you are looking for

[jdmgc8]

Take a little from your savings and enjoy it, go travel or buy something for yourself or for your family, having and saving money is one thing enjoying it is another thing. Whats the point of working your arse off everyday just to make a buck and not enjoy it. I am not saying go out and buy yourself a s55 AMG benz or a 6 series BMW, but take a trip to a place you all ways wanted to go, or donate some of it to a good cause. Those are my two cents.

[Pexster]

YOU SHOULD GO TO JAPAN! or Give it to ME! heh jk lol

[Paul11]

Originally Posted by jdmgc8

Take a little from your savings and enjoy it, go travel or buy something for yourself or for your family, having and saving money is one thing enjoying it is another thing. Whats the point of working your arse off everyday just to make a buck and not enjoy it. I am not saying go out and buy yourself a s55 AMG benz or a 6 series BMW, but take a trip to a place you all ways wanted to go, or donate some of it to a good cause. Those are my two cents.

You want to save it so you don't have to work untill you drop dead at 80 years old. Social security and pensions are dissapearing real quick. No one will just give you money when you retire. The older you get, the more you realize you have to save for future childrens educations, have emergency funds. again, retirement savings are a nececessity.

Also, to BKJmiller, short term CD's have the highest yield. 1 year t-bond (rather than standard 10) have been reintroduced.

[Tiara15]

Originally Posted by bkjmiller

So I've saved up some money...

I'm from the UK and was hoping to invest it using my bank accounts there as a base. But ISAs (tax-free saving) and everything else seems to require UK-residency status - which I don't have.

Doesn't get any interest in the bank here... What to do?

Hello, if you have saved up money, there is no better way to use it than invest it in a high yield property. Japan is known to have highly priced real estate however, that is a big misconception. There are a lot of good finds and valuable foreclosures in Japan. Since you are from UK, you must need some help in dealing with real estate purchases in Japan. I'd recommend this book in How to Buy Foreclosed Properties in Japan: Foreclosed Property Japan 2008 (eBook)