Let us stick with safe meaning “unlikely to default” (there are of course other risks such as inflation). For an Irish resident State Savings are by this metric the safest instrument on the planet. Of course there is a very small probability that Ireland inc. will default or reschedule its bond obligations (conf Venezuela). But this does not imply it would default on State Savings; that would be a suicidal political call and would not in any foreseeable situation be required financially; State Savings are way less than 10% of the National Debt. Besides you would likely get good warning of that Armageddon and be able to cash out in time.I’m thinking of investing a lump sum in state savings products. Per the website state savings are:
I’m curious what other people think. How safe are state savings?
- 100% protected by the State
Thanks.
Not with the same risk profileInterest is terrible. Surely there are better options for savings?