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High yield savings account -- 3%

 
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Charlie123



Joined: 11 Nov 2008
Posts: 68

PostPosted: Wed Jun 08, 2016 7:07 am    Post subject: High yield savings account -- 3% Reply with quote

My bank is offering 3% for a savings account. Does anyone know of a better offer in the Sultanate. Also, where else are expats putting money away, perhaps at a better rate? I'd like to get 6% on a safe investment if possible.
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veiledsentiments



Joined: 20 Feb 2003
Posts: 17136
Location: USA

PostPosted: Wed Jun 08, 2016 2:09 pm    Post subject: Reply with quote

I would never invest my money in any of these countries. Though Oman is relatively stable, I always transferred my money out every couple months to my investment accounts in my home country.

I have known too many people who lost most of their life savings when a country imploded or was invaded... (such as Iran or Kuwait)

VS
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Whatever will be



Joined: 05 Feb 2014
Posts: 259

PostPosted: Wed Jun 08, 2016 2:45 pm    Post subject: Reply with quote

Personally, I would invest a small amount in gold coins such as the American Eagle, Canadian Maple Leaf or the Australian Kangaroo.

While you will not get a massive increase on your investment, it is a stable emergency stack if you want to escape a country that might become unstable (e.g. death of a ruler without succession, neighboring country at war...). Cash money may not be accessible if ATMs are empty and banks are closed. Gold will buy your way out of trouble.

For a large amount of money, I would buy a property in the home country and rent it out while working overseas and then use it as a retirement place.

Good luck!
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