€20K to invest - best option?

RMCF

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What is the best option out there to invest €20K in?

Prepared to put the money away for a couple of years - don't want to put it away for 5yrs or more.
 

ClubMan

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You'd need to post a few more details about your overall situation, attitude to risk/volatility, existinb debts/savings/investments etc. for people to comment meaningfully.
 

RMCF

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You'd need to post a few more details about your overall situation, attitude to risk/volatility, existinb debts/savings/investments etc. for people to comment meaningfully.
Sorry.

It is basically 20K of my wife's SSIA.

Taking 20K out will leave her (and me) with enough to live on comfortably for the forseeable future. But since the SSIA matured it has been lying in her current account gaining next to nothing.

She was recently saying that she wants to put it away, but she only got info from her current bank (BoI) and nobody else. I am sure that plenty do this, as it is more convenient to stick with our own bank.

But I appreciate that there will be loads of better options out there.

Debt wise we have a small mortgage that I currently cover ok out of my salary. So no major debt to chat off.

She is willing to put the money away for maybe 2 or 3 years. Perhaps up to 5, but might like to be able to get access to it if some if it is needed (which should not happen as she is keeping enough aside to fall back on for unexpected circumstances).

Don't think she is interested in any major risk such as shares, so just a guaranteed savings plan seems like the best option. Just something basically to make a few grand on it over the near future instead of it lying in a current account earning nothing.
 

PMU

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I think you’ve answered your question yourself. If your investment horizon is 2 – 3 years, you are looking for a savings account that pays high interest. You have to make decision whether you intend to make a lump sum deposit or feed the money into a regular saver account. There are plenty of threads on AAM that identify and discuss such products. If your investment horizon is longer say 5+ years, you could consider putting some (or all) of the cash into one of the no-load euro-denominated index trackers also discussed on AAM.
 

queenlex

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how about first active's 7.15% regular saver or the other 7% accounts like EBS, etc.?
 

ClubMan

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For the best lump sum demand/term and regular saver deposit rates on offer at the moment see the Financial Best Buys forum.
 

breakdabank

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Debt wise we have a small mortgage that I currently cover ok out of my salary. So no major debt to chat off.
If you can pay off any of your mortgage without penalties then do it with your €20k (thus avoiding years of interest accruals) and (if you are prepared for the risk) invest the money that would have gone on mortgage repayments on something riskier than a deposit.
 
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