How can brother invest his money more wisely since retirement?

D

deco87

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My brother has two credit union accounts .
he retired and doesn’t need and probably won’t need to bother with a loan again.
has ok pension. House paid off.
He has about 140 k between the two just sitting in shares.
no interest really .
just from reading about “ credit union “ issues here , would be be better off sticking this money somewhere , safe , with a bit of a Return I wonder .
Thks
 
deco87 said:
My brother has two credit union accounts .
he retired and doesn’t need and probably won’t need to bother with a loan again.
has ok pension. House paid off.
He has about 140 k between the two just sitting in shares.
no interest really .
just from reading about “ credit union “ issues here , would be be better off sticking this money somewhere , safe , with a bit of a Return I wonder .
Thks
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In terms of "safety", no, the DGS covers deposits up to 100k per institution so his money is completely safe. In terms of return, your brother is not going to get a positive return for on-demand money anywhere at the moment whereas there is a small chance that one or both of the credit unions might pay a nominal dividend. The credit unions would definitely like him to take out the money though.
 
Yes thank you . He seems to have got they impression somehow alright - thanks for your advice . He may leave well enough alone so I suppose cheers D
 
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