Quinnlife or Anglo Irish Bank for Child benefit savings?

Shaz

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Hi,
I intend to build up a savings of my child's child benefit and was wondering whether now is a good time to invest in Quinnlife Freeway Funds or to start off with the Anglo Irish Bank Regular Savers A/c at 8%, considering the current economic climate?

Thanks.
 
When do you plan to access the funds? If it's in the short term the Regular Saver is the safest option.

You could be optimistic and hope that the markets QL Freeway Funds are based on are near the bottom but there's more chance right now that they'll continue on down.

Periodically look at what the markets are doing and hold off until what looks like a sustainable recovery starts.
 
Comparing a deposit account (even a high rate regular saver) with an equity based unit linked fund is not really comparing like with like.
Periodically look at what the markets are doing and hold off until what looks like a sustainable recovery starts.
Timing the market is a mug's game.

For what it's worth there are many existing threads dealing with suggestions on where to save for for children.
 
Timing the market is a mug's game.

I suspect that's truer when markets aren't trending so heavily up or down.

Over the last 10 years cost averaging into the market irrespective of prevailing conditions has been a mug's game.
 
I suspect that's truer when markets aren't trending so heavily up or down.
I disagree. Timing investments to coincide with the start of upward trends is a matter of luck and not judgement and the former is no basis for prudent investing.
 
"Over the last 10 years cost averaging into the market irrespective of prevailing conditions has been a mug's game"

Don't want to go too far off topic in this thread but dollar cost averaging ignoring all other factors is the whole basis of lots of investment strategies and have proven to work over time.

For example, ILTB's investment strategies are based on dollar cost averaging and the data proves their worth.

I have no ties with ILTB.
 
Shaz - there is also the AIB parent saver which is paying 10.25% on regular savings . Aimed specifically at people with children.
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Money Guide
 
Clubman, I cant say I agree with you here. I have read this many times on AAM and dont understand why people have such a hangup about trying to time the market.

Take this week for example, would you go and buy E10000 worth of shares on Monday morning or would you wait until maybe Wednesday to see what happens?
Lets say you decide to buy on Monday but the markets are down, so you wait till Wednesday and the markets are still down, so you wait till Friday and the markets are still down. So a whole week has gone by and the markets are down.
Then the next week the markets are up on Monday, would you buy then or do you still think you should not have tried to time the market and bought the previous Monday ?
I agree the markets may then fall for the rest of the week but at least you start off in a better position than you would have if you had bought the previous week.

Whats wrong with this ?

Rgds
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Because, given your example, if you had tried to time the market, and decided to plump the whole amount in on the 1st Monday, then you have lost money, - because your "timing" is wrong.
Rather than the fact that investment is for the long term, and should be based on asset allocation and money management rather than timing.

Timing is for a golf swing.
 
Declanh, thanks for your reply.

The whole point about my example is to explain why you would try and time the market.
Ie, You would not buy on the 1st Monday, you would wait until the Tuesday and Wednesday etc,etc until you think its a good time to buy.

I still dont see why its not prudent to do this.

Why would somebody buy shares in todays market.
Look at Ryanair today for example, if you had not tried to time the market and bought shares in airline stocks today you would be hammered from the beginning.

Rgds
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You can be in the market - long and short - timing it on the long side is not the only game in town.
Additionally, there is a short term, and a long term aspect to evaluation how to weight you asset allocation. If you think that the general momentum of the market is up, and you want to move more assets to equities, then that is a reasonable proposition to do. If you think that it is down, and want to be overweight in other asset classes - such as cash then that is reasonable as well.
Methinks that your examples - given that they are based on the days of the week - are much more short term - and thus are more of a traders mindset than an investors - but whichever you choose to be - good luck with it!
 
If the price is falling, dont buy, if the price is increasing then buy.
Sell then when the price increases and your happy with your profit or else keep it if the price falls and pray it increases again.
If the price falls on Monday and Tuesday and Wednesday and is still falling on Thursday, I would not buy on the Thursday.

Am I missing something here ??

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Hi Guys,

I'm on the hunt at the moment for the best deals with my Children's Allowance. I would say the Anglo Irish coming out tops because you can lodge up to €1000 per month and this is suitable for the Early Childrens Allowance every quarter as well. The only draw back is you can't access the funds for the 1st 6months and after 1 year this will be up. However, I'm sure they will be deals come that time again with other saving option.
 
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