Hi All,
Have spent a good bit of time looking into various financial products trying to get a better understanding of what my options are and how I should approach this. Lets be honest the market is incredibly complicated and there are lots of vested interests. I hope some people here can help.
I am 35, married, one child and debt free.
Pension:
I have recently sign up to a pension and with a 99% allocation rate and 1% annual management fee + 4 euro a month. This sound a little expensive but maybe I am just would like to know.
Q1. Should I have a 100% allocation rate with a pension?
Life cover:
I appreciate I need something to be in place in case I died, I have got many quotes and have lots of varying prices and options. Primarily around age to cover to, indexation, convertible and guaranteed.
Q2. Is to 65 sufficient b) should i lock in a price now c) should I index this or just go for a higher premium now?
Income Protection:
Found this pretty expensive in general but understand its also necessary. I am eligible for disability e.g. not self employed. Basically I am unsure whether I should also go guaranteed and or indexable. I have done quotes for 10 years older and the prices are massive - should I also lock in this price?
Regular Saver:
I have recently bought into a bond with NTMA for 10 years. This is my childs secondary school fund. However, I also intend to save circa 2k a month and looking to get the best advice on this. This is the hardest question.
Q3. Should I look at a regular saver from the life company or invest in ETF's? I am relatively smart but by no means capable of buying individual stocks and trying to time the market. it's a buy and hold strategy basically and the ETF's look like the best option out there? maybe I am wrong but the regular saver products from the life company looks loaded with fees and has some nasty exist costs if leaving before 5 years - again I understand they are longer term products and carry risk.
I appreciate thats a lot but would love some help - I am finding independent advice a very difficult thing to come across.
Thanks,
Brian
Have spent a good bit of time looking into various financial products trying to get a better understanding of what my options are and how I should approach this. Lets be honest the market is incredibly complicated and there are lots of vested interests. I hope some people here can help.
I am 35, married, one child and debt free.
Pension:
I have recently sign up to a pension and with a 99% allocation rate and 1% annual management fee + 4 euro a month. This sound a little expensive but maybe I am just would like to know.
Q1. Should I have a 100% allocation rate with a pension?
Life cover:
I appreciate I need something to be in place in case I died, I have got many quotes and have lots of varying prices and options. Primarily around age to cover to, indexation, convertible and guaranteed.
Q2. Is to 65 sufficient b) should i lock in a price now c) should I index this or just go for a higher premium now?
Income Protection:
Found this pretty expensive in general but understand its also necessary. I am eligible for disability e.g. not self employed. Basically I am unsure whether I should also go guaranteed and or indexable. I have done quotes for 10 years older and the prices are massive - should I also lock in this price?
Regular Saver:
I have recently bought into a bond with NTMA for 10 years. This is my childs secondary school fund. However, I also intend to save circa 2k a month and looking to get the best advice on this. This is the hardest question.
Q3. Should I look at a regular saver from the life company or invest in ETF's? I am relatively smart but by no means capable of buying individual stocks and trying to time the market. it's a buy and hold strategy basically and the ETF's look like the best option out there? maybe I am wrong but the regular saver products from the life company looks loaded with fees and has some nasty exist costs if leaving before 5 years - again I understand they are longer term products and carry risk.
I appreciate thats a lot but would love some help - I am finding independent advice a very difficult thing to come across.
Thanks,
Brian