Hi all! I'm new here and looking for some advice on how to start investing my money as someone who is fairly financially responsible and good with saving my money, but not at investing it. A bit of background: I'm 28, a 3rd year post-primary teacher, single, no dependents and still living at home with my family. I finally got my permanent contract in the school I work for this year, and now that I don't have to worry too much about job security, I would like to start investing my money or finding a way to increase my savings. I don't understand how investing works, especially the maths and tax side of things - I find myself getting confused and a little overwhelmed trying to research a topic that I genuinely struggle to grasp. I'm anxious about making bad investments and particularly afraid of losing money.
Apart from car loan, insurance payments and bill contributions I don't have any big expenditures. I don't smoke, only drink/eat out very rarely nowadays, and I usually have a fair bit of disposable income left over after payments/savings/discretionary spending (usually ~€250 extra). I'm fortunate enough to be able to save around €500 every fortnight and have been putting this into a regular savings account, plus some extra that I have left over at the end of the fortnight as a buffer in case of emergencies. However, I feel like my progress is so slow. I've seen many videos online of people my age having saved 10x what I have due to good investments, but they're usually all American so I don't know if what works for them will work for me.
I would really appreciate some help on where to look. I'm not sure what investment companies are trustworthy, or should I open an investment account with my bank eg B.O.I. mortgage saver or super saver? My main reason for wanting to increase my savings is to buy a property in the next 3-5 years, and then after that I plan to supplement my pension for possible early retirement (I have been told Cornmarket AVCs are what most teachers go for, but heard its better to go with Irish Life?).
Any advice or recommendations would be very much appreciated. Thanks in advance!
Apart from car loan, insurance payments and bill contributions I don't have any big expenditures. I don't smoke, only drink/eat out very rarely nowadays, and I usually have a fair bit of disposable income left over after payments/savings/discretionary spending (usually ~€250 extra). I'm fortunate enough to be able to save around €500 every fortnight and have been putting this into a regular savings account, plus some extra that I have left over at the end of the fortnight as a buffer in case of emergencies. However, I feel like my progress is so slow. I've seen many videos online of people my age having saved 10x what I have due to good investments, but they're usually all American so I don't know if what works for them will work for me.
I would really appreciate some help on where to look. I'm not sure what investment companies are trustworthy, or should I open an investment account with my bank eg B.O.I. mortgage saver or super saver? My main reason for wanting to increase my savings is to buy a property in the next 3-5 years, and then after that I plan to supplement my pension for possible early retirement (I have been told Cornmarket AVCs are what most teachers go for, but heard its better to go with Irish Life?).
Any advice or recommendations would be very much appreciated. Thanks in advance!