What risk level should I opt for in ARF

I am totally new to Askaboutmoney. Am 63 year old female and retired in July. I wish to set up an ARF and have been getting the runaround and conflicting advice from brokers/financial advisers. I have approx €70,000 to put into an ARF. I have had risk assessment done for New Ireland products and also assessed on ESME? I came out as Risk level 4 on NI assessment and Risk level 3 on ESME. I am happy to leave money for up to ten years only taking the stipulated minimum yearly amount for tax purposes. I want to have some return for my money rather than having all reward taken up by fees. My current broker, (who is using ESME) advises I invest in Prime 3, Goodbody Investment 3 and I fundsncome a 3 Alpha.

My previous broker and a financial advisor suggested I invest in at least Level 4 products, mainly Prime 4, Income and Dividend and Goodbody Investment 4. I am happy to remain with New Ireland who are offering these products . However I would appreciate some feedback from others as to which risk level products I should go for. Moidhered by the whole thing but need to make decisions now.

ifunds 3 Alpha is the correct name of product

If you are relying on the income from the ARF for normal living expenses you would need to keep your risk level low. If the ARF income is an extra amount that you can easily afford to live without, then you could opt for a higher level of risk. Personally I would go for risk level 5 or 6 if the ARF income was extra to my normal living expenses.

Thank you bstop. I think I can live without the cash for some time. Risk level 5 0r 6 is a leap from 3, but I will take what you are saying into consideration now.