5 things you could do with your Vodafone payout
PLAY IT SAFE
IF YOU own Vodafone shares because you swapped them for Eircom ones back in 2001, you've lost money on your original investment. So you might want to play it safe with the payout you've got under Vodafone's Verizon deal. Putting money in a savings account is one way of doing it – but you'll have to tie up your cash for a year to get a decent interest rate.
Permanent TSB's interest-first account pays 2.3pc interest on lump sums of €10,000 or more – as long as you leave the money there for a year. If you've only got €5,000 to save, you can still get 2.3pc interest from Permanent TSB – as long as you open a 12-month fixed deposit account.
KBC Bank's 12-month fixed rate account is also worth considering. It pays 2.4pc on savings from €3,000 to €1.5m.
The Cheltenham Festival kicks off on Tuesday – so if you've just got your cheque in the post and you like to have fun at the races, your payout couldn't have arrived at a better time. Hurricane Fly will be the main Irish hope in Cheltenham next week.
BUY MORE SHARES
You could use your payout to buy more shares. Two billionaires, Wilbur Ross and Prem Watsa, tripled their money this week after selling a chunk of their Bank of Ireland shares.
If this has tempted you to put your payout into Irish shares, some of those tipped by Irish stockbrokers so far this year include Aer Lingus, DCC, CRH, Bank of Ireland and CPL. If you want to fish outside the Irish pond, small to mid-cap companies in technology, biotech, telecoms, retailing, and healthcare could be worth a bet, says Oliver Sinnott, investment strategist with Davy.
PUT IT INTO PROPERTY
If you got a bigger payout than average, you could dip your toe in commercial property. "Many clients are now putting money into commercial property funds," said Laura Devoy, investment manager with Goodbody Stockbrokers.
FLY OFF TO THE SUN
Many of us haven't been able to afford a foreign holiday for the last few years – thanks to one austerity year after another.
So your Vodafone payout could now be the chance to head off with your loved one for a much-deserved foreign summer break.
Aer Lingus's new routes to San Francisco and Toronto kick off next month.