Large Redundancy - how to proceed

[BenGinaShui]

I have been made redundant after a long service and have no mortgage or loans, a newish car and lots of living money, my wife is working so we're reasonably secure for now. I have over €100,000 left in the bank from the redundo. I'd like to invest some or all, how do I proceed? was thinking of putting 100K into a variety of shares, any suggestions on Shares or should I steer clear of the stock exchange as things seem to be going down and down.High interest bank account? Would be interested to hear suggestions.

 

[yob]

you really haven't given sufficant info for anybody to asses your situation.
your age,will you work again,do you have a pension in place,are you already drawing it down,if yes is it sufficant to last the whole of your life.
is this money the whole of your savings and do you really want to put all your savings into the stock market,what do you know of the markets have you traded before,what level of risk are you willing to take,(would imagine should be low risk),perhaps if you reasses your situation,and give a more informed thread i'm sure theres plenty advise to be had.

 

[ClubMan]

Chances are that sticking the lot into any one sort of investment (e.g. shares) is not a good idea. As yob says a lot more detail is necessary to come to any meaningful conclusions or advice. You need to do (by yourself or maybe with professional assistance) a comprehensive financial review in order to clarify your short, medium and long term needs and what sorts of savings/investment options might be suitable in each case. Have you read the key posts, the AAM Guide to Savings & Investments and the consumer guides on www.itsyourmoney.ie?

 

[BenGinaShui]

Thanks for the replies guys. To address some of the questions:-
Age:- 45 , hope to work again, but it may take me a few months to get something suitable, there will be a pension from the job (I just left) but won't start drawing on it for 15 years.
This money isn't all the savings. Was normal rainy day stuff there already.
I would prefer lower risk , or maybe mix it, haven't traded much before except on company options or Eircom etc (on which I got stung for sittong on)
I don't think I really want to put all my savings into the stock market, but one person is advising that. Seems rather risky to me.

 

[Calico]

I think over the longer term (5yrs +) that now is a great time to invest in ETF's (funds that track stock market indices). Obviously spread your risk and keep cash back for your next 6 - 12 months expenses.

My advice would be not to buy individual shares.