F
finance_noob
Guest
Hi folks, I was wondering if you could help give me some advise? I am a bit of a financial noob. Heres my story...
Last year I unexpectedly inherited €850k (net). This was a bit of a shock. I am 30 years old, in a relationship but not married. I do not have a house but I do have a good safe job. The only thing I have done with the money so far is make some donations to charity.
I dont spend much in general, I dont care for clothes, houses, cars or other things. I live a reasonably simple life that invloves doing things that dont require money. So this unexpected winfall left me sort of perplexed. I guess my plan someday is just to buy a house and have some money for kids and family down the road. In the mean time I dont really have any use for it. I fully understand that I am 100% the luckiest dude in the coutry right now to have all of this but as I hope you can appreciate I was doing ok before it happened. I earned enough money from my job to keep me in beer and food.
I am looking for some financial advise. Right now I have €100k in Rabodirect and the rest of it is in Bank of Ireland. €400k is in 1 year term deposit account, and the other €350k is in a 3 month term deposit account.
Note: The only thing I care about is that the money is safe. I dont care about investments or products that try to return big interest etc. I just want to leave it somewhere safe.
1.) Am I crazy keeping it in an Irish bank with everything that is hapopening?
2.) If its is dumb to leave it in a Irish bank, where should I put it?
3.) What are the chances of loosing any of this down the road by leaving it in an Irish bank?
Any advise you can give me would be appreciated. I am worried with all of ther talk in the news that I might be doing something wrong here. I dont think I can stomach talking to any proffessional financial advisors (sorry if you are one) but the ones I have met to date have seemed out for themselves and just tried to sell dumb investment products to me.
Last year I unexpectedly inherited €850k (net). This was a bit of a shock. I am 30 years old, in a relationship but not married. I do not have a house but I do have a good safe job. The only thing I have done with the money so far is make some donations to charity.
I dont spend much in general, I dont care for clothes, houses, cars or other things. I live a reasonably simple life that invloves doing things that dont require money. So this unexpected winfall left me sort of perplexed. I guess my plan someday is just to buy a house and have some money for kids and family down the road. In the mean time I dont really have any use for it. I fully understand that I am 100% the luckiest dude in the coutry right now to have all of this but as I hope you can appreciate I was doing ok before it happened. I earned enough money from my job to keep me in beer and food.
I am looking for some financial advise. Right now I have €100k in Rabodirect and the rest of it is in Bank of Ireland. €400k is in 1 year term deposit account, and the other €350k is in a 3 month term deposit account.
Note: The only thing I care about is that the money is safe. I dont care about investments or products that try to return big interest etc. I just want to leave it somewhere safe.
1.) Am I crazy keeping it in an Irish bank with everything that is hapopening?
2.) If its is dumb to leave it in a Irish bank, where should I put it?
3.) What are the chances of loosing any of this down the road by leaving it in an Irish bank?
Any advise you can give me would be appreciated. I am worried with all of ther talk in the news that I might be doing something wrong here. I dont think I can stomach talking to any proffessional financial advisors (sorry if you are one) but the ones I have met to date have seemed out for themselves and just tried to sell dumb investment products to me.