How to manage a large windfall
Last weekend, Dolores McNamara won €115 million in the Euromillions lottery. The Sunday Business Post asked some advisers what would be the best way to invest a large sum, advice that should also be useful for those with lesser sums.
Maura O'Neill, wealth development manager, Bloxhams Stockbrokers
First, an independent financial adviser should be consulted for investment advice. Initially, given the life-changing amount of money, it would be important to place the money either on deposit or in a mixture of deposit and guaranteed investment products. Even if this means a lower investment return for the first few months or so, this will preclude hasty investment decisions. Other investments can then be introduced selectively when...
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