If you have more money coming in than going out, or a lump sum, you may be wondering how to make the most of it.
Savings and investments are very different. Savers usually want a safe place for their money where they can get at it easily. Investors tend to want their money to grow by at least the rate of inflation, and accept that it may be tied up for some time.
Each investment has its own level of risk. There is no guarantee that you will make money, or even make your money back. In general:
If you are considering investing with a financial company, thoroughly research their strength and reputation. If you give your money to someone else or manage and invest, there is a danger you could lose it through mismanagement or fraud.
Never risk any sum of money you can’t afford to lose.
Seek professional advice from an independent financial advisor before investing your money. Only authorised financial advisers can advise on certain types of investment, including pensions, life assurance, shares, unit trusts and lifetime mortgage equity release schemes.
The Financial Services Authority (FSA) authorises such firms of advisers. To check if a firm is authorised, call the FSA Consumer Helpline on 0845 606 1234 or visit the FSA website and follow the Firm Check Service link.
Set your location to see what Age NI offers in your local area.
Receive our latest news and events information by email.
For many older people winter means loneliness, poverty and ill-health.
Like us on Facebook
We influence decisions-makers to improve later life in Northern Ireland.
Are you getting all the benefits you are entitled to?
By making a donation you can help us improve later life.
We deliver care services, provide advice and advocacy, fundraise and influence our decision-makers to improve later life for us all.
Set the appearance of this website so you can read it more easily
To see information relating to England, Scotland or Wales set your preference below: