Should I use £120,000 savings to buy a house to rent out as I expect to lose my job?

I’m almost 60 and not in the best of health, so am not hopeful of finding another position

Q I am currently working but expect to lose my job. I’m not holding out much hope of finding another one as I’m almost 60 and not in the best of health.

I have savings of about £120,000 in an account that pays less than 0.5% interest.

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