How can brother invest his money more wisely since retirement?

D

deco87

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My brother has two credit union accounts .
he retired and doesn’t need and probably won’t need to bother with a loan again.
has ok pension. House paid off.
He has about 140 k between the two just sitting in shares.
no interest really .
just from reading about “ credit union “ issues here , would be be better off sticking this money somewhere , safe , with a bit of a Return I wonder .
Thks
 
deco87 said:
My brother has two credit union accounts .
he retired and doesn’t need and probably won’t need to bother with a loan again.
has ok pension. House paid off.
He has about 140 k between the two just sitting in shares.
no interest really .
just from reading about “ credit union “ issues here , would be be better off sticking this money somewhere , safe , with a bit of a Return I wonder .
Thks
Click to expand...

In terms of "safety", no, the DGS covers deposits up to 100k per institution so his money is completely safe. In terms of return, your brother is not going to get a positive return for on-demand money anywhere at the moment whereas there is a small chance that one or both of the credit unions might pay a nominal dividend. The credit unions would definitely like him to take out the money though.
 
Yes thank you . He seems to have got they impression somehow alright - thanks for your advice . He may leave well enough alone so I suppose cheers D
 
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