24 year old ,70k to invest

wolfofwesten

Registered User
Messages
2
Hello there people this is my first post on this forum so forgive me if i might be in the wrong section but i would really like some advice and it looks like i have came to the right place.

Long story short, i am 24 years old and i have 70k to invest

I don't plan on buying any property for at least the next 2-3 years maybe even more.

I want to invest in guaranteed returns,very low risk

The best deposit/investment fund i have found is the Permanent TSB 2 year fixed term interest first deposit account ,gross rate 4.38% fixed

I am open to suggestions and i'm keeping my options wide open so any advice is much appreciated

Thanks in advance
 
Sorry for the Vague post guys

My goals for the investment would be to earn between 7-12 grand off the 70k between a 3-5 year period


With the risk being very low
 
If you can find your goal amount of interest, nett, over that period of time, you'll have found a new career. There will be any amount of people on here telling you what interest you may achieve, but none to safely say you'll go anywhere near your target. Believe me.
 
5.5 year An Post Savings Certs will give a 10% Tax Free, Low risk return, equates to 7k return over a slightly longer period but pretty close.

Worth Considering?
 
Sorry for the Vague post guys

My goals for the investment would be to earn between 7-12 grand off the 70k between a 3-5 year period


With the risk being very low

Earning €7,000 gross, you need to earn 10% each year. To earn €12,000 gross, you need to return 17% a year. Neither are achievable on a consistent basis, never mind with risk being very low.

Then you have tax at 41%...

With interest rates being so low, you have to accept that the returns from low risk investments will be low. You have three options:

1. Revise your goals
2. Put more money in
3. Take more risk





Steven
www.bluwaterfp.ie
 
I assumed the OP want's to earn 7k over 3-5 years not per year.

It's looking for a return of around 2.5% (or 5% depending on if it's a post tax aspiration).

The 4.38% mentioned is a 2 year return so isn't a whole lot better than less locked in 2% deposit options. Unfortunately post tax these days it's hard to make much more than 1% on deposits.
 
Back
Top