What to do with the 'lump sum'???

G

Gorteen

Registered User
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I've retired since January this year.
Monthly pension is more than enough for my needs and still able to save from my pension income. No mortgage. No financial dependents or demands. I know that the lump sum "on deposit" is losing money when inflation is taken into account. What are my options?
 
It really depends on circumstances and desires. Since you're all set on your pension income, you'd be looking at bucket list spending or investing.
 
Spending is easy...... I'm hoping for some advice on investing.
Perhaps some managed funds with medium risk? Should I go with banks (e.g. AIB) or brokers, (e.g. Cornmarket)
 
Spread your money across various asset classes like stocks, bonds, and real estate investment trusts to mitigate risk and potentially outpace inflation. Consider a robo-advisor or a financial advisor for specific profesional guidance.
 
You've the time now to do a lot of the research yourself.

Limit your preferred provider to one or two based on the funds they have available that suit your risk profile.

Google (insert name of product provider) and risk profiler. Study the fund/s that are available to you and what assets they're made up of.

Decide if you still need advice and choose an intermediary to buy the product through whilst keeping an eye on the costs. If you've the confidence to make the decisions on provider, product and fund/s yourself then there are options in that space too.

Only reason you'd buy an investment product through a bank is if you felt sorry for their shareholders and wanted to give them a profitablity boost.
 
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