Making Cents: If you have made extra savings in the last year, investing wisely is a good idea

'Investing provides the opportunity to both beat inflation and deposit accounts whilst also providing an additional source of income'

"...regardless of what you invest in remember the old saying, ‘it’s time spent in the markets, not timing the market that is important.”

If yours is one of the households that have accumulated extra savings in the last year, John O’Driscoll of Blueprint Financial Planning warns against leaving it all sitting in a bank account.

“Recent figures show there is over €124 billion on deposit in Ireland at present, which is a truly remarkable figure and the Covid-19 pandemic has added a significant amount,” he said.