What would you do with 2 million that you can invest for 1 year?

saturnz

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the amount is relatively immaterial at this point given that the timeframe is short

to make any meaningful gain over that period I would use all of it to play in derivatives
 

Brenden_E

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OK seems a traditional savings account or money market is indeed the way to go, and there's no hidden thing that I wasn't aware of.
 

Lukcydog

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Here's my $2. R2mil will get you $118,000 at the current exchange rate (off shyft app). You can open an Interactive Brokers account with no fees (>$100k value) and invest in etf's. I'd be careful of the FAANG's or tech stocks in general at the moment.
 

BBSA

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Here's my $2. R2mil will get you $118,000 at the current exchange rate (off shyft app). You can open an Interactive Brokers account with no fees (>$100k value) and invest in etf's. I'd be careful of the FAANG's or tech stocks in general at the moment.
I would be careful of anything stocks, everything goes down then the bubble burst and it will take years to recover.
 

JayM

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OK seems a traditional savings account or money market is indeed the way to go, and there's no hidden thing that I wasn't aware of.

If you are emigrating, you should get that money offshore, most of it preferably into the currency you'll be spending after you've moved. Which country are you relocating to?
 

samrai.jck

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Cygnia FAANG, 4th Industrial revolution. If the bubble bursts, everything will be hit, nothing will be safe. Check out the Cygnia boss lady on twitter, she is nailing the competition.
 

Brenden_E

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If you are emigrating, you should get that money offshore, most of it preferably into the currency you'll be spending after you've moved. Which country are you relocating to?
We're hoping to get into NZ. I contacted some NZ banks, but it doesn't appear that I can open an account and transfer my money there without the right to be in the country (which we don't have yet). I got generic cut and paste answers from their call centers, so if anyone knows otherwise please let me know.

HSBC specifically had some good accounts which would have been awesome.
 

Brenden_E

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P.S our personal banker at Standard Bank gave us an awesome rate of 4% if we invest it with them. Jesus...
 

JayM

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We're hoping to get into NZ. I contacted some NZ banks, but it doesn't appear that I can open an account and transfer my money there without the right to be in the country (which we don't have yet). I got generic cut and paste answers from their call centers, so if anyone knows otherwise please let me know.

HSBC specifically had some good accounts which would have been awesome.

With R2M HSBC expat (i.e. Jersey) could be an option, but not sure if their savings accounts support NZD.

I'd suggest you just go with Interactive Brokers - they support NZD (and you can convert between currencies cheaper than anywhere else).
 

TEXTILE GUY

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P.S our personal banker at Standard Bank gave us an awesome rate of 4% if we invest it with them. Jesus...
o_O

Right now, you dont want to do anything smart - keep that cash as fluid as possible.
When you move to wherever it is, you realise how cr@ppy the ZAR is.

Your first month or two are expensive in your new home. There are all sorts of expenses.
They are sneaky little things, like getting furniture, finding a place to stay, paying utilities, insurances, communication, transport expenses - investing, divesting and moving cash can get expensive short term.
Dont under estimate this step - with Rands in hand, its expensive and hurts.

After 6 months, once you have settled, then you can start moving money about, investing etc.
By then, you have a SA bank account, an offshore account, and you a better idea of what is going to happen next.
The cost of living in your new home may shape your decisions differently.

I give you this advice from experience over the past year.
 

Brenden_E

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With R2M HSBC expat (i.e. Jersey) could be an option, but not sure if their savings accounts support NZD.

I'd suggest you just go with Interactive Brokers - they support NZD (and you can convert between currencies cheaper than anywhere else).
Thanks for this, I'm contacting them.
 

Barbarian Conan

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Thanks for this, I'm contacting them.

Eligibility

New HSBC Expat customers must be 18 years or over and meet one of these criteria:
  • hold a minimum of £50,000 (or currency equivalent) with us
  • have a sole salary of £100,000 (or currency equivalent)
  • have already qualified for HSBC Premier in another country
And you must currently reside or be situated in an eligible country or region.

Which countries and regions are eligible to apply for a HSBC Expat Current Account
The country or region you are located in when you apply for an account and the country or region you reside in can impact our ability to assist you. If you do not reside in or are not currently located in one of the following countries or regions please call us on +44 1534 616 055 before applying to discuss further:
Argentina, Armenia, Australia, Bahrain, Belgium, Bermuda, Canada, Chile, China, Cyprus, Denmark, Egypt, France, Germany, Gibraltar, Greece, Guernsey (including Alderney and Sark), Hong Kong SAR, India, Isle of Man, Israel, Jersey, Kenya, Kuwait, Lebanon, Macau SAR, Malaysia, Malta, Mexico, Netherlands, Norway, Oman, Philippines, Poland, Portugal, Qatar, Russian Federation, Singapore, South Africa, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom, United States of America, Uruguay, Venezuela.
 

HavocXphere

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Step 1 is definitely announce it to the world. I think you forgot to include your physical address though? Bit of an oversight that.

With R2M HSBC expat (i.e. Jersey) could be an option, but not sure if their savings accounts support NZD.

I'd suggest you just go with Interactive Brokers - they support NZD (and you can convert between currencies cheaper than anywhere else).
Don't think you can pay out in NZD tho. Some fx on there like zar you can trade but not pay out
 
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