Inheriting euros, should I change it in CHF?

Investing / Funding & Currency conversions
#1

Hello dear Mustachians,

I’m lucky enough to have my parents donating me around 500K € from their savings.
What should I do with 500K€ in my bank account?
The idea is to use them as a down payment to buy a house here in CH in the next 2 or 3 years
What worries me is the FX rate, what is the best approach.
Should I change smaller amounts every month?

Thanks

T

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#2

If you want to buy a house in CHF and your life generally evolves here, then yes - I would exchange them for CHF. 500K is going to be a nice down payment!

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#3

I would exchange the entire amount in CHF :slight_smile:

Now the question is where you should do it? IBKR (cheap), Traditional bank (expensive), others?

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#4

If he has IBKR it is a no brainer imho for amounts >10K

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#5

Thanks for the info, I’ll look into ibkr,
The question is more, should I do it all at once or in split it in multiple times to minimize the impact of forex fluctuations?

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#6

Change them to USD and invest in VT? :grin: :face_with_hand_over_mouth:

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#7

If you search for “EUR” in the forum, you will find many threads where very similar questions were discussed.

But personally I decided to not keep any foreign currency in an amount higher than I need in next few weeks, for investments or a vacation.

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#8

Unless you want to invest in Swiss assets, I think a bit more diversification would be beneficial.

#9

Remember that both your parents and you have to do a tax declaration, even if you do not have to pay taxes for Erbvorbezug from parents. As a result, you may have to transfer all at once.