Soon to be a pensioner and looking for advice on investing.

Maharabeg

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I have about 100,000 euro to invest. I am 60 years of age and need something to top up my pension as it will be very small. I had thought of buying a property and renting it out as income. I wonder though, if I could get the same rate of return from investing in some fund - with property tax etc. rental could be a bit of a hassle. It would need to be completely safe as I will be a pensioner very shortly. Would appreciate any advice out there.
 
Before you invest any money, I think you need to get a clear view of your requirement. You were considering buying property but you also say you want your money to be completely safe. Those two contradict each other. Property is far from safe. The value of property can go up or down, it is illiquid and rental income can fluctuate a lot.

In a broad sense, the "safest" place for your money would be to put it on deposit with the strongest financial institution(s) out there. But even that's not completely safe. Aside from the possibility of the collapse of the institution, there's the more likely possibility that the rate of interest you achieve won't keep up with inflation. So the earning power of your lump sum will be eroded over time.

Before looking at specific financial products, remember this. If you want the prospect of a higher return than what you can get by keeping your money in cash, you must accept a higher level of risk. Risk and return are inextricably linked.
 
Thanks Ferguson. Yes, I agree with everything you say. Just a bit skiddish after the recent bank problems. I think what I should look for is something that pays interest higher than rate of inflation. You seem to know what you're talking about, so who would be best to consult. Finanacial advisers usually have a product to sell. Are there any independent advisers out there who could help me?
 
If you're just looking for a deposit account, I'm not sure that you need to pay a financial advisor. Have a look at the [broken link removed] lists here. As I'm a financial broker myself, I'm going to duck your question seeking recommendations. :D
 
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