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Where to invest money?

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  • 16-03-2009 4:26pm
    #1
    clicli
    Registered Users Posts: 218 ✭✭


    Hope someone can give me some advice. I will be receiving a substanstial inheritance in the next few months and need to decide where to put it basically. Ideally I would want to be able to lodge it somewhere safe, so that the value won't decrease, but gaining interest on the lump sum would be a bonus. I suppose a savings account would be the best? Does anyone have any advice for me? Thanks


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    #2
    adrem
    Registered Users Posts: 32 ✭adrem


    Depends really on whether you want access or not but based on your requirement not to have any reduction in value and assuming you want ready access then a bank deposit with any of the Irish Banks - they are all government backed so you are as secure as you can be. The interest rate will be fairly crap I'm afraid and getting worse but at least your money won't fall. If you don't need access you can get ok fixed rates still


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    #3
    Hanley
    Banned (with Prison Access) Posts: 21,981 ✭✭✭✭Hanley


    Tbh considering we're in a state of deflation, even without high interest rates the purchasing power of the money won't decline. It will marginally increase.

    If it was the case inflation was running at 6 ot 7 % and the deposit interest rate was around 5%, it wouldn't be the best option.

    But right now, considering the turmoil out there, it's about the best bet imo. And what I'd do if I was in your position.


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    #4
    Ideo
    Registered Users Posts: 1,618 ✭✭✭Ideo


    check www.irishdeposits.ie for a list of deposit account interest rates. would even consider spreading it around multiple banks as the govt gaurantee cap is only 100k, if the inheritence is that substantial...


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    #5
    Blue_Wolf
    Registered Users Posts: 861 ✭✭✭Blue_Wolf


    PTSB are offering a reasonable 75 day account, its 100% secure and you earn interest on the account every 75days as opposed to the year. You get a letter out before the 75 days are up letting you know of new interest rate and its only tied down for the 75days. I have mine in it and earning 4.5% which is good considering the inflation rate is what 1%? Maybe going into the minuses.


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    #6
    Stabshauptmann
    Registered Users Posts: 4,885 ✭✭✭Stabshauptmann


    Ideo wrote: »
    check www.irishdeposits.ie for a list of deposit account interest rates. would even consider spreading it around multiple banks as the govt gaurantee cap is only 100k, if the inheritence is that substantial...
    www.itsyourmoney.ie does comparisons too. I think more institutions are listed there and they list the terms and conditions


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