Barney 123
New Member
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- 4
Hi Barney.Couple - late sixties
Combined pensions - €4,100 per month
3 adult children - contributed to their mortgage deposits
No debt or mortgage
Savings €300,000 in post state savings
Question: What to do to conserve value of savings?
I presume you mean tracker bonds or the like? Are they still being sold?Do not invest in one of these structured products that promises stock market returns with the security of a deposit.
I was offered the Dynamic 95 Protected Bond 26 earlier this year by BOI- very like this older one from 2016I presume you mean tracker bonds or the like? Are they still being sold?
They never went away. They are big business. Especially with inflation so high, people who traditionally keep their money in cash are now looking for a return but are nervous about market volatility. Prime targets for those selling these products.I presume you mean tracker bonds or the like? Are they still being sold?
When I grow up I want to be Leper.I wasn't going to respond to this, but I share similarities. Trying to beat inflation is like trying to stop day going into night. Most likely, for us mere mortals it cannot be done, but you can take steps to reduce the worst impact of inflation. Investing in your late 60's is likely also folly and worse again stressful..
Ordinary cost of living in Ireland is expensive. Electricity is dear, so is gas, petrol, internet and almost everything else. Move to Spain or Portugal or Italy for twelve weeks over the colder months and you can live much cheaper. OK! - You have to pay for flights, transfers, accommodation rental. When abroad you live cheaper depending on your lifestyle. Electricity is not cheap on the continent, but you use a hell of a lot less. Neither do you drive as much as you would in Ireland (optional). Wine, beer etc are a fraction of what you would pay in Dublin. If you smoke you're into huge savings immediately.
Book your cheaper flights as early as you can after booking accommodation. You're not going on holidays - you're just temporarily changing your lifestyle for a while and all the sunshine is bonus. You don't have to stay in the dearest areas and good (centrally located) accommodation costs €900 per month with internet, electricity, refuse, cleaning, water charges included. You can get cheaper, but , , , Figure out a way to make it work for you (and that ain't too difficult) and suddenly you're in clover (well, competing with and not giving into inflation for a change). And when you wake up every morning you can read your brains out, surf the net, walk til you drop and hey! live in shorts and tee shirts while most nearly freeze in Ireland.
Alternative:- Carry on as is . . .
While wine is far cheaper in Spain it's not that much cheaper.4. Wine:- The Spanish wouldn't be seen dead drinking the stuff we buy in Ireland for a tenner. It retails there for around €1.00 per bottle. But, pay €3.25 for a bottle of wine and you're purchasing wine that would easily cost in excess of €25.00 per bottle in Ireland.
You have an income of €946 a week with no mortgage and no dependents. Well done. You don't needs lots of savings. Travel, eat out, buy a sports car. Enjoy yourself. You'll be a long time dead and the graveyards are full of rich corpses. You probably have another 10 years or so where you are both healthy and mobile enough to really enjoy spending it. It may or may not have been hard earned but it's your money so spend it.Couple - late sixties
Combined pensions - €4,100 per month
3 adult children - contributed to their mortgage deposits
No debt or mortgage
Savings €300,000 in post state savings
Question: What to do to conserve value of savings?
I love it.We were at Mass yesterday (Sunday) in Cork after which the amount of people we met who wished they could spend some of the colder months away as we did was staggering, but they all had reasons why they couldn't e.g. Who'd cut the grass? - I couldn't visit my grandkids! - I'd miss the league games - I wouldn't know how to spend my time there - Who'd mind the dog our son-in-law inflicted upon us?.
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