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  #81  
Old 15.07.2021, 19:22
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Re: What would you do with CHF 2-3 millions ?

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Doing nothing would have been your best protection in either of the downturns & especially 2020, getting into cash would have been an expensive mistake, for a long term investment crashes are irrelevant.
That really depends. The old advice: 'don't try to time the markets' is usually right but you can get lucky. In spring 2020 I was so freaked out by the global lockdowns I sold most of my investments before the plunge had hit -5%. If I'd bought back in a little earlier than I did I'd have really cleaned up in 2020. But I still did very well. This wasn't insight, it was pure luck. FWIW I've been selling stocks again recently. Too much uncertainty over Covid again. But don't worry @FMF, I've hung onto most of my Fundsmith.

You're right to caveat with 'long term investment'. I agree with you there. But in our case we need money soon for a property purchase and retirement next year so I'm more jumpy than I would be if aged 30. In general your advice is sound.
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  #82  
Old 15.07.2021, 19:50
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Re: What would you do with CHF 2-3 millions ?

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. But in our case we need money soon for a property purchase and retirement next year so I'm more jumpy than I would be if aged 30. In general your advice is sound.
If you need the money in cash to purchase a property within in a year then equities are the wrong place, for retirement where your life expectancy probably exceeds 25 years it's a different story & you should stay invested.
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  #83  
Old 15.07.2021, 20:05
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Re: What would you do with CHF 2-3 millions ?

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If you need the money in cash to purchase a property within in a year then equities are the wrong place, for retirement where your life expectancy probably exceeds 25 years it's a different story & you should stay invested.
Indeed. I've kept our SIPP/pension account investments intact as they shouldn't start to be touched for at least 10 years. The ISAs/general investment accounts will be needed within a few months so I've cashed them up. I may miss out a few months of profits if the markets continue on their merry way but I've a gut feeling that they won't and I've much greater peace of mind knowing that the gains of the last year are cemented in.
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  #84  
Old 15.07.2021, 20:15
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Re: What would you do with CHF 2-3 millions ?

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Indeed. I've kept our SIPP/pension account investments intact as they shouldn't start to be touched for at least 10 years. The ISAs/general investment accounts will be needed within a few months so I've cashed them up. I may miss out a few months of profits if the markets continue on their merry way but I've a gut feeling that they won't and I've much greater peace of mind knowing that the gains of the last year are cemented in.
When my wife had an English interest only mortgage with 3 years to go, I had a cash position of close to the redemption value, she sold it about a year before the payback date. Under the new stricter rules she could not have refinanced.
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  #85  
Old 16.07.2021, 08:58
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Re: What would you do with CHF 2-3 millions ?

Late to this discussion ...

Call FMF & invest 50% the way he tells me to

Quit my job

Give my Dad a yearly stipend so he can finally retire

Pay a trustworthy person to move into my flat to care for my two cats

Travel the world simply for a few months with my husband and find the place I would want to settle in (most likely somewhere in Europe, I do love it here)

Buy a simple house with character & with a small amount of land

Find work I can do remotely and spend my spare time helping & raising animals in some capacity

Now that’s my idea of a Happy End
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  #86  
Old 16.07.2021, 09:00
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Re: What would you do with CHF 2-3 millions ?

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Late to this discussion ...

Call FMF & invest 50%

Quit my job

Give my Dad a yearly stipend so he can finally retire

Pay a trustworthy person to move into my flat to care for my two cats

Travel the world simply for a few months with my husband and find the place I would want to settle in (most likely somewhere in Europe, I do love it here)

Buy simple house with character & with land

Find work I can do remotely and spend my spare time helping & raising animals in some capacity

Now that’s my idea of a Happy End
I don't think there is anything like enough money do do that.
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  #87  
Old 16.07.2021, 09:09
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Re: What would you do with CHF 2-3 millions ?

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I don't think there is anything like enough money do do that.
Sorry mate I don’t copy?

Did you mean 2-3 mil isn’t enough to do that? Maybe, one can dream
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  #88  
Old 16.07.2021, 09:26
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Re: What would you do with CHF 2-3 millions ?

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Sorry mate I don’t copy?

Did you mean 2-3 mil isn’t enough to do that? Maybe, one can dream
At 40 you could perhaps retire on that much in Switzerland provided you already have a decent pot built up and you are relatively frugal.

To do all the rest you'd need another big pile.
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  #89  
Old 16.07.2021, 09:29
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Re: What would you do with CHF 2-3 millions ?

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At 40 you could perhaps retire on that much in Switzerland provided you already have a decent pot built up and you are relatively frugal.

To do all the rest you'd need another big pile.
For sure ... wouldn’t retire in Switzerland. Thinking Spain or Italy ...
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  #90  
Old 16.07.2021, 09:29
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Re: What would you do with CHF 2-3 millions ?

I would think I'd manage travelling if the goal was travel and not luxury. A year backpacking in South and Central America as well as some time in SE Asia could hardly break the bank big time.

But I'd love to try a round the world motorbike trip.
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  #91  
Old 16.07.2021, 10:22
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Re: What would you do with CHF 2-3 millions ?

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But I'd love to try a round the world motorbike trip.
Have you watched the Long Way Round series with Ewan McGregor? Great watch - a bit nicer than how most of us would be able to do such a trip, but still entertaining.
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Old 16.07.2021, 11:35
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Re: What would you do with CHF 2-3 millions ?

At 35, if money is invested a safe withdrawal rate (meaning low risk of money running out before kicking the bucket) would be 3%. So on 2M 60k per year, out of which any annual taxes would have to be paid. A lot more than the average salary in Spain
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