What to do with money in case of war? Expert advises

The creator of the website “Subiektywnie o finansach” Maciej Samcik gave an interview to the weekly “Newsweek”, in which he advises what to do with your savings during the threat of war. The publicist admits that he notices the anxiety of people who “still have money” and hears questions about whether it is better to invest in real estate in Poland or rather in an apartment abroad. There are also questions about how to invest money outside Poland so that it is safe and at the same time accessible.

– Contrary to appearances, it is not that simple, because foreign banks do not open accounts for non-residents. And Polish banks do not either, when a person “off the street” comes to the bank, who came from abroad – and is not Ukrainian (because the rules are slightly different for them) – he cannot open an account – says Samcik.

What to invest in in case of war?

According to the weekly’s interviewee, in unstable times one should not invest money in something “that is illiquid, and real estate is such an investment”. Samcik advises people with savings of several hundred thousand złoty to transfer some of their funds to a foreign bank.

According to the creator of the website “Subjectively about finances”, a good solution for times of uncertainty is to have more cash, also in foreign currencies and low denominations, and gold.

When asked about the sense of keeping cash at home (e.g. one thousand dollars and euros in low denominations and a few thousand zlotys), the columnist states that it is generally a good idea, although “it is not worth going overboard”. – I once spoke to a man who said he had a million złoty in cash at home and kept it in a safe. To feel safer, he obtained a gun permit. To me, that’s stupid, because if someone comes to steal it, they’ll probably know how to use a gun better than he does – “Newsweek’s” interlocutor convinces.

Samcik also reveals his personal investment strategies. He admits that he tries not to overheat with real estate investments. – Privately, I have increased my investments in recent years (primarily due to Polish inflation) in instruments that are independent of the Polish market and the Polish currency. I also try not to overheat with real estate investments, because buying them in a frontline country is a bit extravagant – says Samcik.