Where is the best place to put approx 100k, dont need immediate access but dont want to tie it up either for fear if banks going bust.
Had it split up in varius banks ie 20k in Credit union, 20k in AIB another at 8% for 18months in BOI etc. Any good deals, have just opened a esavings account with ulster bank at 5.5% with instant access and moved my credit union money into it.
Dont really know so all advise appreciated as I need my money to work as hard as possible for me. thanks
Pennies, what level of risk do you want to take?
Remember that investing in anything other then deposits generally has some element of risk.
Life Companies offer "guaranteed" products were you can take a punt at investing in some element of stocks and shares with the worst return you can get being your original investment. It appeals to many people for differant reasons.
What you should be aware of is that getting your money back after 5 years could mean a significant devalue of your investment. This is dependent on interest rates and inflation in that period.
Right now New Ireland and Irish Life have products that offer differant levels of capital security, with an exposure to the markets.
So is it a good time to invest money in the markets? It varies from client to client. Its not a one suit fits all recommendation. I refer back to my original question on what level of risk do you wish to take ?
At the moment a majority of people in this country are best served leaving their money on deposit (and shopping around for best deposit rates), mainly because they are already worried enough about how things are going in the economy.
Many people believe that now is the time to make serious money (ie that stocks and shares are cheap), but since nobody knows how long we will be in this recession or indeed how low things will go, its a gamble that should be considered very carefully before acting on. If you are considering investing anything in a risky venture, you should always do so with the mindset that you are writing off that money (ie you can afford to lose it all) so that you make a well judged opinion on what you should invest in.