If you are near retirement age, then you may feel that it's best to go for something on the low-risk side, because you don't have such a lot of time left to recover from a loss like a younger person has. No matter what your age is, you may be the sort of person who cannot sleep at night knowing there is a big risk of losing your money. In this case you also will choose a low-risk investment such as blue-chip shares with a wide diversity to reduce the risk even further. Or you may be content with a term deposit, or the interest rate offered by an online only bank account.
If you get a thrill from the ups and downs of the stock market, you may decide to go for the high-risk, high return - or loss - options. Or it may be that you will choose a combination. Keep some of your money in a low risk savings plan and use some to speculate.
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Read more about term deposit accounts and term deposit interest rates at the Macquarie Private Wealth website (www.macquarieprivatewealth.com.au).
