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Mikhail Liebenstein

Wealth Illusion Post Brexit

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Just checked into my pension funds, and they have gained £63k since BREXIT - I'm mainly in foreign assets.

I could feel chuffed and rather pleased, but did notice my recent holiday to the US was rather more expensive. Also I expect inflation will feed through soon.

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Just checked into my pension funds, and they have gained £63k since BREXIT - I'm mainly in foreign assets.

I could feel chuffed and rather pleased, but did notice my recent holiday to the US was rather more expensive. Also I expect inflation will feed through soon.

In £'s since Brexit my wealth is up £85k (9.1%) and in EUR's my wealth is up a more lacklustre EUR36k (3.1%). A Mediterranean home has certainly become a little more expensive.

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If you are patient enough, the Euro could blow up if the others don't want to adopt permanent fiscal transfers to the med to break them out of their high unemployment and deflationary depressions. Either way, they could get cheaper in time.

Congrats by the way on your nominal achievement. I admit to monitoring my assets in $ as well to avoid the illusion of currency devaluation.

At the end of the day though this fall so far has turned out far less than the c$2.10 to c.$1.40 when Merv slashed rates and we qe'd. And I would add that Project Fear combined with Carney's threats re lowering rates and printing will have accounted for the bulk of the decline we have actually seen.

Thanks, it's a good feeling already. Although I must admit I'm starting to lose interest in the day job already as I really do want to get on with the next stage of life. I have to keep telling myself be patient, you're only 43 and have the rest of your life ahead of you.

All my modelling assumes a EUR:GBP of 1.123 forever. Anything above that and I could increase standard of living. Probably wouldn't as quality of life is more my priority these days but it's always nice to have options or more contingency.

I don't check in $'s but I have considered monitoring in SDR's although haven't made the leap. For the life I want to lead into the foreseeable future EUR and £ is good enough.

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