What to do with proceeds from house sale

Ryan

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My grandparents are downsizing and will be left with approx €150k of a surplus.

what is the better low risk option with a medium term horizon to do with this? They are in their 80s and they are reluctant to have it tied up in investments in the event of their death
 

Sarenco

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5-Year State Savings Certs are probably the best low-risk option with a medium time horizon at the moment.
 

Ryan

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Yes I was thinking Prize Bonds could be a good option and they could be cashed in at any time
 

Ryan

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Yes with the deposit guarantee of €100k that needs to be considered.
 

RedOnion

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Yes with the deposit guarantee of €100k that needs to be considered.
The 100k is per person, per institution. So a joint account is guaranteed up to 200k.

If they want low to zero risk, there's barely any return currently available. Bank deposits or state savings:

Since there's not much interest to be earned either way, I'd be considering things important at their age like ease of access, and, unfortunately, ease of transferring into one name if one of them passes away.
 

Ryan

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Yes ease of access is why they don’t want an investment fund. That issue around perhaps the inevitability of transferring itto one name is why I think the Money should be split because then only €100k is guaranteed
 

NoRegretsCoyote

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That issue around perhaps the inevitability of transferring itto one name is why I think the Money should be split because then only €100k is guaranteed

I have some knowledge of this. I think the risk of an Irish bank failure is low, and the risk of actual depositors' cash being taken is really low, and even if it was it would be a small % of funds >€100k per depositor.

Splitting funds across banks is generally a good idea. But if I was in my 80s with €150k I really wouldn't stress over this.
 

Purple

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My grandparents are downsizing and will be left with approx €150k of a surplus.

what is the better low risk option with a medium term horizon to do with this? They are in their 80s and they are reluctant to have it tied up in investments in the event of their death
They are in their 80's. I suggest wait for Covid to end and head to Vegas.
 

Ryan

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They are in their 80's. I suggest wait for Covid to end and head to Vegas.
Not sure if they will fly again after Covid to be honest. we have family in the US and they did used to go out at least once a year.
 
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