advice for the eldery

T

Trumod

Guest
My Friend is 65 years old still working but has come into 40K and doesnt know what is the best thing to do with it,wants to have access to the money can anybody help as to what is the best place to save or invest
 
I'm afraid your question is almost too vague to answer.. but if he needs access to the money he is probably limited to saving in a deposit account rather than investing.

If he is internet bank-adverse (as many older people are) and does not want the hassle of drip feeding into high-interest paying regular saving accounts, I would recommend Anglo Irish Bank's 30 day notice account which pays 4.5%. It's not a bad rate on his money until he decides what to do with it. Remember also that over-65s are entitled to a rebate of DIRT but this will depend on his current level of income.
 
See the Financial Best Buys forum for more deposit rates. Irish Nationwide's FlexiSaver 21 will pay 5% gross CAR on sums of €40K-€75K with 21 days notice in branch required for access.
 
Back
Top