Raining euros in San Javier as locals scramble for unexpected windfall
A gust of wind sends banknotes flying and locals chasing their luck on Avenida Aviación Española
It’s not every day you spot real money skittering along the road and swirling across the pavement, but that’s exactly what happened in San Javier on Tuesday afternoon.
Picture the scene on Avenida Aviación Española: cars slow down, pedestrians do a double-take, then chaos as everyone rushes to grab genuine banknotes swirling through the air. “It sounds like something out of a movie, but it happened right here,” said one local, shaking their head in disbelief from a nearby terrace.
The excitement kicked off when an envelope, only half closed, ended up on the ground. Along came a passing car, the breeze did its work and suddenly the street was showered with banknotes. Witnesses say folk stopped their cars, jogged across the street, and started scooping up whatever cash they could. One fortunate driver managed to gather up 580 euros (in lots of different notes), as well as a sheet of information, before dusting off her hands and heading straight to the local police. No second thoughts for her - she handed everything in, just as she found it.
As for the rest of the mystery windfall? Well, nobody’s sure how much money was actually up for grabs, and word is that not everyone returned their finds. The identity of the original owner (and exactly how the envelope got there) also remains unknown, leaving San Javier with a story to tell and a few questions still swirling in the breeze.
This little bit of midweek excitement certainly gave the town something to talk about and serves as a fun reminder that sometimes, truth really is stranger than fiction.
Image: moerschy/Pixabay
Financial Advice Issues for Expats in Spain
I have been a Qualified Financial Adviser for almost 35 years now. 25 years in the UK for major institutions such as Natwest, RBS and Royal London. I have been in Spain giving expats financial advice now for 10 years and it is quite remarkable the different approaches as well as advice that is required for an expat now living in Spain. Blacktower is a company that has specialised in providing the best solutions for its clients living outside the UK for 30 years also.
The currency issue is always high on the agenda and a discussion for the long term future has to be taken onto account. Questions like What will happen if one partner dies? Will the other remain in Spain? What about other family members? What Inheritance tax provisions do you have in place? The list goes on and on.
Existing portfolio’s and investments that were the mainstay of portfolios in the UK may now be obsolete. An example of this is quite often tax efficient products in the UK like ISA’s and previously held TESSA’s PEP’s actually have low growth rates and provide no tax advantage to a Spanish fiscal resident.
Existing Pension holdings either paid by the state or private pensions built up through working lifetimes are topics that have to be covered. Many expats have lots of small pensions from many ex employers and can be confused by the communications and administration in dealing with them. At Blacktower we specialise in advising on how to consolidate and bring all these pensions together in one place.
Bank accounts and investments in Spain always bring up lots of questions too. Quite often the small print associated with financial products in Spain is in Spanish this can make it very difficult even if you have a good grasp of the language. Understanding Jargon in English is sometime difficult enough. I provide clear easy to understand letters and documents in English so that you fully understand any terms and conditions before making a decision.
Advice on tax efficiency is just as important and offering good returns. There are products available exclusively for Spanish expats that can provide invaluable benefits. Having a good base knowledge of the tax implications both now and in the future is an essential ingredient to making a sound decision.
I will complete a thorough factfind, ask you the right questions, establish your individual needs, attitude to risk and capacity for loss and desired returns before providing you with a full written report of advice and my recommendations in plain English. You will then have time to read and consider all the information before contacting me with how you wish to proceed.
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The above information was correct at the time of preparation and does not constitute investment advice and you should seek advice from a professional adviser before embarking on any financial planning activity.
This communication is for information purposes only and it does not constitute advice or a recommendation. The value of investments can go up as well as down, and investors may not get back the full amount invested. The Blacktower group of companies operates across multiple jurisdictions, each authorized under its respective regulatory license. For further information, please refer to the relevant regulatory page.
