Kanga

Member
Watch The Lira Now

Saoirse

Moderator
Watch The Lira Now
I get confused as to whether it's good or bad the lira dropping as regards my lira nest egg

I have almost 53TL and have held on to it for quite sometime

You financial wizards - what should I do
 
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IbrahimAbi

Grey wisdom
Watch The Lira Now
Not many people on here advocating investing in TL and living off interest these days. It used to be a lively topic on TLF. Maybe that's why some people are not posting anymore, they can't afford the internet!

I think I will re-read some of the earlier posts just to amuse myself.
 
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Chasey

Member
Watch The Lira Now
Not many people on here advocating investing in TL and living off interest these days. It used to be a lively topic on TLF. Maybe that's why some people are not posting anymore, they can't afford the internet!

I think I will re-read some of the earlier posts just to amuse myself.


I was discussing this very point with a golf mate who put in 150K at 8tl to the pound.

He said it makes very little difference to him what the exchange rate is he still gets 18% interest and £27,000 a year is still more than what he needs even if the Tl is 13 and his is only 8 its still 216,000tl. He'd only lose if he sent money home. Sure he could have made a lot more if he invested 150k today, but it wasn't particularly relevant to him
 

LauraB

Member
Watch The Lira Now
Yes I would agree with your friend Chasey. We invested at 7tl to GBP. The interest we get is easily enough for us to live on so basically our pensions are saved for bigger things which we may, or may not need. It's certainly not something I would advise others to do as it's a very personal thing but it suits us.
 

Mushroom

Member
Watch The Lira Now
I transferred sterling to lira after the sale of the villa and reaped interest which at one stage was more than 20%.
But, having no intention of investing in Turkey again, I had to monitor the exchange rates and decide when they indicated a fall in value of Lira to Sterling which would have reduced the amount of interest I had made.
That decision was made early last year and I sent back Sterling to the UK whilst still well ahead of what it would have made in UK interest.
If I were to have done the same transfer back to the UK now I would have lost probably £50K.
It was nice to say I was a millionaire (lira) and probably a multi millionaire the way things are going but unless I ever returned as an owner, it would be no advantage to me.
 

Camden

Member
Watch The Lira Now
I noticed in the link, the help to the economy and rating came about mainly from outside events rather than Govt policy ...with the lifting of Countries travel restrictions in turn reviving Tourism revenue... Also it said any further ratings being revised up, will depend on the "effectiveness of their monetary policy" . Well we have seen the ruling party and their Boss history on monetary policy ... not the greatest ...

They are at the moment boosting the look of their State Industries reading them for privatization and which will mostly go down the same road as they have, in the selling of previously protected areas of State Land and the re-zoning of Military areas , Parks, Forestry, and natural areas... opening it to further Tourism & Housing redevelopment ... all to shore up an ailing economy built on a bubble of hard currency foreign debt.... and hopefully in time, to get the re- elected and hold onto Power ... to do the same.


From link ...
Noting that Turkey has fully vaccinated more than 55% of its population, with almost 65% having received at least one jab, S&P said pandemic risks for the Turkish economy are now receding.

"The lifting of pandemic-related restrictions, as well as the removal of Turkey from red travel lists by several EU countries, the UK, and Russia, has allowed tourism to restart, boosting service exports," it said.

The agency said Turkey's travel income from visitors abroad jumped to $7.7 billion in May-August period of this year, which is a significant increase from $2 billion during the same period of last year.

Turkey's total travel revenue amounted to $10.5 billion in the first eight months of 2021, the agency said, adding the amount could increase to $18 billion for the full year.

S&P, on the other hand, warned that supply chain disruptions and higher energy prices could drag on economic recovery, since Turkey is an energy importing country.


The rating would also be revised up if there is an effectiveness in monetary policy
 

Camden

Member
Watch The Lira Now
There's Gold in them there hills
A gold rush brings in lots of money in the short term, but leaves a toxic legacy

And unfortunately, the chemicals to get this gold out of the mountains, is alleged to be entering the soil and local water source polluting and contaminating it . Turkish Activists say Gold mining is the most destructive industry, using toxic cyanide and mercury to extract the gold by leaching it , ( denied by the Govt ) Which then goes on to contaminate the soil and water. Not to mention the deforestation that is needed to be cleared for these mines .... Environmentalists and Local Villagers of these areas have been protesting ( leading to mass arrests ) against these Foreign owned multi nationals that leach the Gold from the ground ...


,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,before ...............................................................after
945769576.jpg
 
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Watch The Lira Now
Not many people on here advocating investing in TL and living off interest these days. It used to be a lively topic on TLF. Maybe that's why some people are not posting anymore, they can't afford the internet!

I think I will re-read some of the earlier posts just to amuse myself.
I changed £50000 when it was 2.5tl to the pound and another £10000 when it was 5tl to the pound, when it hit 10tl to the pound I changed another £20000 and have not touched the interest in 14 years. I sold my property for 375000tl and put that in the bank as well, so in 5 years time when im 60 me and the wife are retiring and moving to Turkey to retire and use the interest to live as the compound interest over 19 years will be well above 2 million lira
 

Chasey

Member
Watch The Lira Now
I was planning to do something like this. I have been watching the Lira slowly rise and nearly committed when it stalled out at just over 12tl-£

I was hanging on for 14 (Think its 13.5 today) but then as luck would have it, I have ended up buying another villa so there's no money left to invest :) If it tops at around 14 and then recovers over the next 10 years I will feel a bit stupid, but the villa was lovely and a good price was agreed. Fingers crossed it all goes through

Investing big would likely commit you to leave your cash in Turkey, but we should be mainly here for the foreseeable future.
 

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