1.2 million euro compensation and its in a 4.5% 2 month notice account with AIB.

[gambit]

I have recently recieved 1.2 million euro compensation and its in a 4.5% 2 month notice account with AIB, I know this isnt the best rate available and would like to know some better options

 

[tallpaul]

Re: savings and investments

I think with that amount of money on deposit, you can afford to get professional investment advice. Don't you?

 

[gambit]

Re: savings and investments

i dont have any income so its the only money i have for the future, it doesnt hurt to get some advice from an unbiased source before seeing a professional

 

[LDFerguson]

Re: savings and investments

For starters, have a look at the Best Buys lists here on Askaboutmoney which will give you an idea where to house your deposit to get best rates. Given the large size and desire by banks to get their hands on cash, you might be able to haggle with banks for better than the listed rates. It's certainly wirth trying as an improvement of even 0.1% is worth €100 per month extra interest to you.

Once you have it getting the best rate you can, you need to decide whether or not you're prepared to take some risk with any of it, in return for the potential of a greater return than deposit over the longer term.

 

[mercman]

Re: savings and investments

OP - just be careful out there. The previous poster to me is in the business and from previous posts appears to be on the right side. Do not attempt to invest directly with any institution as they will make a fairly decent effort at trying to rip you off. If you are in this for the long haul, there really is no better time to invest in the stock market. The World is not going to stop - it is just going through a major downturn for which the Politicians are endeavouring to reconcile issues. Good luck with your Money but be careful.

 

[lovelylovely]

Re: savings and investments

the first rule of investing is :Don't keep all your eggs in one basket! I suppose after that its considering the amount of risk you can live with working from low to high risk.As its all the money you own then you won't want to have 100% of your money in high risk items.You may decide say a small % in high and the rest in low risk.Good luck !