A Bit of Advice

6541

Hi Folks, I would really appreciate some advice.

I have over 110,000 cash in various bank accounts, none earning any great interest at all. I am wondering could anyone suggest a safe investment ?

I do not need immediate access to the money.
I do not own a house at the moment, I live rent free with a relative.

Thanks so much.

lucky john

6541 wrote: »

Hi Folks, I would really appreciate some advice.

I have over 110,000 cash in various bank accounts, none earning any great interest at all. I am wondering could anyone suggest a safe investment ?

I do not need immediate access to the money.
I do not own a house at the moment, I live rent free with a relative.

Thanks so much.

I would advise having a chat with a qualified financial adviser. That's a lot of money so find one you pay a fee to for guidance.

topper_harley2

Yeah would agree with that. You need to sit down and identify what you want to accomplish with the money - if considering investing, then set investment goals etc. A QFA should be able to do this. Find one that is fee based, rather than commission based, as fee-based should be more bias-free.

For safe savings (as opposed to safe investing), consider the state savings (DIRT free) bonds, ranging between 3 and 10 years. These could suit as yuo indicate you dont need access to the cash.

tennisfennis

6541 wrote: »

Hi Folks, I would really appreciate some advice.

I have over 110,000 cash in various bank accounts, none earning any great interest at all. I am wondering could anyone suggest a safe investment ?

I do not need immediate access to the money.
I do not own a house at the moment, I live rent free with a relative.

Thanks so much.

When you say ''safe'' you need to define what safe is to you, its a different variable for everyone. For some people the chance to loose 10% of initial investment with the opportunity to return 30% might be considered safe.

Are you more interested in just making a lower return per year in an investment where there is a very low chance of any loss such as a bond (already mentioned).

If you are more interested in those types of investments do not waste your time/money seeking out an advisor when you can find out that information by yourself for free and you will also gain knowledge yourself

6541

tennisfennis wrote: »

When you say ''safe'' you need to define what safe is to you, its a different variable for everyone. For some people the chance to loose 10% of initial investment with the opportunity to return 30% might be considered safe.

Are you more interested in just making a lower return per year in an investment where there is a very low chance of any loss such as a bond (already mentioned).

If you are more interested in those types of investments do not waste your time/money seeking out an advisor when you can find out that information by yourself for free and you will also gain knowledge yourself

Thanks for your reply, okay I think I see what you are saying. Are you saying a bond versus a managed fund ?
Safe for me would have been a low risk low return. But when I think about it as you say the chance to loose 10 % versus 30 % return could be considered.
I really don't want to go down the road of a financial adviser due to recent dealing with an Accountant that has left a very bad taste in my mouth (Money Grabber)

So could anyone point out a what the best low risk bond available is at the moment and secondly could someone give me a example of a managed fund (if I am reading this correctly)

Folks thanks for your time.

topper_harley2

Best long term deposit rates are listed here, including state bonds: http://www.askaboutmoney.com/showthread.php?t=101813

A managed fund is an investment product managed by a fund manager like Irish life etc. Generally they are thought be to heavy and fee laden, which can wipe out profits depending on how often you trade. State bonds are savings, not investments, as you have fixed return after X years.

tennisfennis

6541 wrote: »

Thanks for your reply, okay I think I see what you are saying. Are you saying a bond versus a managed fund ?
Safe for me would have been a low risk low return. But when I think about it as you say the chance to loose 10 % versus 30 % return could be considered.
I really don't want to go down the road of a financial adviser due to recent dealing with an Accountant that has left a very bad taste in my mouth (Money Grabber)

So could anyone point out a what the best low risk bond available is at the moment and secondly could someone give me a example of a managed fund (if I am reading this correctly)

Folks thanks for your time.

I would never recommend investing in a fund unless you have contacts in the industry since you will get thrown into a poorly run fund where your return on capital will not be maximised.

When I was speaking about 10%, 30% etc I was just talking about if you were to educate yourself and pick your own investments instead of relying on a fund. The other poster posted a link with information on bonds

6541

Once again folks thanks, I will have a read of the links and I might need to revert.