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Confused [about best rates]

  • 01-11-2011 5:26pm
    #1
    Halo Kitty
    Registered Users, Registered Users 2 Posts: 525 ✭✭✭


    Today after nearly 10mths i received my redundancy cheque, and as i sit here and look at it just dont know what to do with it outside of enjoying some of it,
    What banks are giving good rates and what pitfalls should i look out for, or should i put it into shares, Any advice more than welcome,


Comments

  • #2
    chris85
    Registered Users, Registered Users 2 Posts: 4,502 ✭✭✭chris85


    Halo Kitty wrote: »
    Today after nearly 10mths i received my redundancy cheque, and as i sit here and look at it just dont know what to do with it outside of enjoying some of it,
    What banks are giving good rates and what pitfalls should i look out for, or should i put it into shares, Any advice more than welcome,

    Depends your needs. If you are of an older generation and seeking a little nestegg for few years you may be best to invest in a simple deposit account with a yield on interest (which is subject to DIRT also)

    If you wanted to take more of a risk you could invest in shares but you should get someone who knows what they are doing. You could lose it all very quick if you dont know what you are doing.

    You could also buy gold/silver. Price has gone up in the last few years a lot and some say this is a good place to put your money as its off real physical value rather than money/shares.

    Talk to a good money advisor and they may be able to help with what to do with it. It all depends what your expectations are and the level of risk you would be willing to take.

    Also dont have to put it all in one basket. Diversify your investment. I would.


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