Sale of house money to invest/save

[phester]

Help needed.

My mother has been sitting (stupidly) with the sale from her 2nd home with 200k approx in a current account for the last year doing nothing for her.

I want to wisely invest this money for her.

Given the poor state of shares I am thinking that the safest option with the best return is to opt for high interest saving AC.

Is there any list as to the current banks rates and there underwriter. So that we are covered if any of the banks go belly up.

Or is this not the best way to invest the money. She does not need it right away

 

[ClubMan]

She should definitely stick it in one or more high rate deposit accounts until she makes up her mind what to do with it. See the Financial Best Buys and www.itsyourmoney.ie lists of such accounts. There are several existing threads on mixing and matching multiple demand and term lump sum and regular saver accounts to maximise interest returns. There are also several on the different deposit protection schemes covering different banks' deposits. For a sum of €200K your mother really should get professional advice on how to invest it in a way that best matches her specific needs. Sticking it all in deposits or all in equities is probably not the way to go. Only a proper fact find and analysis of her situation and needs can really determine what are the most appropriate options.

 

[BallinaTipp]

She should get professional advice.

If you give her the advice be prepared to take the credit or shoulder the blame.

ClubMan makes good sense!