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What amount of money and what proportion of your overall net worth are you talking about? What are your overall financial circumstances? What do you mean by "at our age"? While you are deciding what to do (at least) it would make sense to put all your liquid cash into NR to avail of their 5% gross CAR rate rather than leaving it on deposit elsewhere at worse rates. If you decide that deposits are the most appropriate option for most or all of your cash longer term then you can further maximise interest returns by mixing and matching a number of lump sum and regular saver accounts as outlined in many existing threads.Should we settle for Northern Rock and just leave enough cash in our current account with National Irish bank to keep things ticking over. At our age we just can't afford to take any unnecessary risks.
How much and what proportion is it of your overall net worth?I'm talking about liquid cash which we don't currently need.
When are you retiring? Have you no other pension or other non cash deposit investments? Do you have any debts?It's our retirement money so "at our age" is meant to infer that we won't have the years ahead of us to earn again in order to recoup our losses.
I don't understand. Why?It's essential for me, at this time, to hand over the management of our finances to my OH and I want to make things as easy and manageable as possible for him.
At least while you are making your mind up. You should probably consider getting some independent, professional advice too.Guess it's Northern Rock for the present time.
Over the medium/long term your lump sum may well lose real value by doing this - e.g. if the rate of inflation equals or exceeds the net deposit interest returns. In spite of what some people assume deposits are not "no risk" when it comes to preserving (never mind building upon) the real value of your money. If you won't go for a financial makeover then you should at least read the key posts, AAM guide to savings & investments, consumer guides on www.itsyourmoney.ie etc.We're not intested in a complete financial make-over.
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Just want gain the most interest on savings of E150.000, with no/very low risk
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