Redundancy - Where to invest?

Onthehill

Hello all. I am going to be made redundant in the coming weeks. Thankfully I don't feel as I'm in a bad situation yet and want to put some of the money I will be receiving away somewhere secure. Given the current financial climate, has anyone any good advice where to deposit it? I think now I am more concerned with security than profit, though a balance of both would be preferable. I have looked into offers across the banks and an Post, but I would like some opinions from your good selves before I decide.
Thank you all.:)

mickman

Onthehill wrote: »

Hello all. I am going to be made redundant in the coming weeks. Thankfully I don't feel as I'm in a bad situation yet and want to put some of the money I will be receiving away somewhere secure. Given the current financial climate, has anyone any good advice where to deposit it? I think now I am more concerned with security than profit, though a balance of both would be preferable. I have looked into offers across the banks and an Post, but I would like some opinions from your good selves before I decide.
Thank you all.:)

if its security you want and not profit then put it in a safe and bury under your lawn

RoadKillTs

He could meet up with this guy and go half's on the digger.

Maybe a term deposit account from Rabodirect.

Link

Mr Cawley

Only you can ensure it's secure by monitoring the financial world. Don't leave it all in the hands of crooked banks. Silver funds that mirror the increasing price of silver would be a good idea. You should educate yourself, reuters etc. and you'll be able to judge what's safe and what are not. We can't give you opinions until you yourself have ideas about what you want. Feel free to ask for opinions in future.

MrK

Joe Schmo

Mr Cawley wrote: »

Only you can ensure it's secure by monitoring the financial world. Don't leave it all in the hands of crooked banks. Silver funds that mirror the increasing price of silver would be a good idea. You should educate yourself, reuters etc. and you'll be able to judge what's safe and what are not. We can't give you opinions until you yourself have ideas about what you want. Feel free to ask for opinions in future.

MrK

A person who is most concerned with safety than profit should not use it to speculate on silver.

I suggest a foreign bank like Rabobank (suggested above), or a safety deposit box.

Goodluck2me

If you are putting your money away in a foreign bank account because you think the Irish bank systems will fail, then how do you suggest getting to your money when you have no access to atms ect?

Mr Cawley

Joe Schmo wrote: »

A person who is most concerned with safety than profit should not use it to speculate on silver.

I suggest a foreign bank like Rabobank (suggested above), or a safety deposit box.

Yes good advice regarding Rabbo.

Joe,
OP states he would 'prefer a balance of both security and profit' hence my example of Silver,
but also states 'i think i am more concered with security' hence your point.

Op,
try and decide how much you're willing to invest and what you want to leave in the bank; a foreign bank, as suggested by Joe.

Onthehill

Firstly thank you all for your valuable advice. I would try to bury it under the lawn but the lawn is not mine to dig up!! Yeah I have considered Rabo, as I have heard nothing but good things about it. I guess as Mr Cawley says it is a case of me keeping a close eye on the situation and deciding from there. The next couple of weeks will be time to watch closely. I guess it is always good to put the question out there to see the reaction and to hear of a direction I hadn't considered.

enda1

Put it onto an Irish bank.
That way you should at least have free bank changes on your current account etc.