What should I do with lump sum?

billyhead

I have 25000 invested in a long term savings account with the credit uniondue to mature on Januray 5th. I have been given 3 options
a) Transfer the balance to a share account
b) Re-invest for another 5 years-potential return 635 euro in dividends per annum
or
C) Open a 3 year term account-potential return 480 per annum

I was wondering which option to take to max my ROI or should i invest elsewhere i.e in an Post. I do not need the amount at present and was planning to invest it long term. How save also is money invested in the CU?

cbreeze

Have a look at the past performance of your CU and what their dividends are likely to be this year, then take off 30% for DIRT. In 2010 only CU's with bases in workplaces like the ESB and Civil service were giving 2.5%.

An Post Certs (21% for 5.5 years) and Bonds (10% i think) are DIRT free. With certs you can cash in every 6 months, and with bonds annually. [Still]
Some of the banks/buildings societies are offering reasonable one year fixed. but take off the 30% for DIRT to even the comparison.

nohow

contact a financial broker to advice as there are hundreds of funds with many companys that might suite you.I talk to my broker for advice .I hhave always been happy with his advice

billyhead

Thnaks nohow for the info but I have decided to invest the sum into my national solidaurty account with An Post for 10 years