It's not really possible to give you a meaningful answer on the basis of the limited information provided.
Does your sibling have a pension? A mortgage? A long-term investment horizon? What does he ultimately want to do with the money?
If he simply wants to keep the money on deposit, there is a "Best Buys" section that should give you the best option.
Thanks for replies. He's almost 65 with limited pension (state and small private pension). he needs to be able to access at least some of it should the need arise, and hopefully get some dividend income plus share/portfolio appreciation if that's possible. Personally I'm thinking a mix of stock with good dividend income and a deposit account. Knowing him, I know he'll not be able to manage CGT or anything like that, so ideally some managed fund might be best, but which one?
Thanks Sarenco, I'll look into these options. I'm not sure what the tax implications of the shares in the investment trust are; I'm assuming they're the same as ordinary shares? Anyhow, will look into these options. The rates of return, coupled with DIRT make deposits a very low yield. I'm hoping to do something a wee bit better but not complex. ThanksGiven the circumstances presented, I would be inclined to keep things really simple - leave, maybe, €15k on deposit and use the balance of the savings to buy 4 year savings bonds from An Post.
If you think your brother could handle some additional risk and complexity, he might consider using a portion of his savings to buy shares in an income focused investment trust like The City of London Investment Trust plc. It's long established, well diversified, reasonably cheap and currently yields ~4%.
I think your brother should avoid the sort of managed funds that are currently offered by Irish life companies. For starters they are pretty expensive but the tax treatment of these funds make them really unattractive for somebody with a low marginal income tax rate (which I suspect in your brother's case is zero).
Hope that helps.
I'm not sure what the tax implications of the shares in the investment trust are; I'm assuming they're the same as ordinary shares?
Thanks Sarenco and Sbarrett. I'll discuss options with him and let him choose. I'm still somewhat inclined to suggest a few gilt-edged high-dividend stocks as part of an investment/deposit mix. We'll see!
I'll discuss options with him and let him choose. I'm still somewhat inclined to suggest a few gilt-edged high-dividend stocks as part of an investment/deposit mix. We'll see!
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