75,000 to invest

Hi i will be made redundant soon.i will get quiet a big sum.i was going to put 75,000 into a 3 year bond/cert with the post office.is this a good idea?i dont want to risk the money in shares/high risk investments.10% after 3 years looks good.any ideas?

It is the best return on offer for a 3 year term deposit.

There are plenty of threads here with regard to the risks associated with putting your money into An Post savings bonds which are invested directly in the Irish national debt.

Darrone: I wouldn't if it were my money - I"rish economy is still in a state of flux & no one know what ways its really going to go.

Could you pay off your mortgage / car / personal loans if any?

I would change the money out of euros into gold ETF maybe & park it outside Ireland. goodluck.

Thanks for the reply.to be honest i have been in the same job over 20 years and losing my job is a shock to the system.i never had savings so the first time i have a few bob the country is in bits.i am very nervous about the money being lost because of the bank crisis.i was thinking of ringing the bank(owe 200,000 mortgage)and making a offer to clear if they will do a deal.you never know your luck.i dont want to make loads of money,i just want my money to be safe so i can look after the family and bills.its really terrible that you cant even put your money in the bank without stress.

I think buying Irish sovereign debt, which is what happens with you An Post bonds/certs, is a very bad idea if you are looking for safety. Especially considering that they pay 3% while the open money market is demanding 9% for the same risk.
If safety is of most concern for you then you would be better off looking into German bonds.

Thanks Chris i will have a look at that.