I am about to distribute the estate of my deceased father. I'm looking for advice on what to do with close to €200k. I'm over 60 years old and I've effectively been living off savings since my job came to an end at the beginning of the crash. I've just cashed in the very last of my savings (EBS Summit Fund) so some part of my share of the estate will have to be accessible at short notice.
I do have a very small income as sole trader but it's really like a hobby that earns me about 10k.
I have an equity release mortgage (tracker thank God) that I pay out about €300/mth on.
My pension will not be much when it kicks in in a couple of years time as I was in my last job for 12 years and preferred to invest in equities myself rather than AVC's.
If I was to make a decision on it myself right now without advice, I'd put €100k in bank (which one?) and the rest in a combination of P.O. Savings Bonds and Prize Bonds
So any advice on what to do with the 200k would be very welcome.
I do have a very small income as sole trader but it's really like a hobby that earns me about 10k.
I have an equity release mortgage (tracker thank God) that I pay out about €300/mth on.
My pension will not be much when it kicks in in a couple of years time as I was in my last job for 12 years and preferred to invest in equities myself rather than AVC's.
If I was to make a decision on it myself right now without advice, I'd put €100k in bank (which one?) and the rest in a combination of P.O. Savings Bonds and Prize Bonds
So any advice on what to do with the 200k would be very welcome.