Time for savers to think creatively

We are living in an era of zero interest rates, but, for many Irish people, the need to generate a return for their money has never been more important. So where do you put the money you save?

Uncertainty in Ireland is mirrored by global financial uncertainty. Fears of deflation, shrinking demand, a possible Brexit, oil gluts, political instability, terrorism and an influx of refugees are all threatening Europe with an instability that would have been unimaginable just a decade ago.

In the search for a return for your money, Ronan Goggin, managing director at O’Leary Life and Pensions, in Cork, points to alternatives to deposits. In an era of financial inertia, when there is more than €50bn lying idle in Irish current accounts (from people who see no value in moving this money to deposit accounts), such alternatives are desperately needed.