100k to invest

Discussion in 'Deposits' started by Lola78, Dec 6, 2016.

  1. Lola78

    Lola78 New Member

    Posts:
    1
    Hi all,
    New to forum and looking for advices not what to do with 100k recently acquired through the sale of my investment property.

    Married - self employed income 50k
    Spouse- 52k public sector

    2 children: 3 yrs & 3mths

    Saving already 80k in short term deposit accounts and now lump sum of 100k again just sitting in my current account since the sale went through .

    Don't know where to start.
    Ppr mortgage 240k, value 300k
    Investment property mortgage 240k, value 260k rented and covering mortgage
    Investment apt - mortgage 60k, not rented.

    Pension 100k
    Life cover 600k
    Health insurance

    Am I right in thinking that kbc offers the best 1 yr fixed.

    We will most probably need access to money in 1-2yrs to build but do not need access immediate term.

    We live a moderate lifestyle with one car loan ( covered by business) , live within our means and save 1-2k per month between us.

    AIB branch want the business and suggested opening several accounts with cap of 10k for regular saving but don't want 10 of these type accounts.

    Apologies if the info isn't sufficient or relevant in the forum but would appreciate some guidance.

    Many thanks
     
  2. Sarenco

    Sarenco Frequent Poster

    Posts:
    4,179
    Sorry but I'm struggiing to follow your post.

    You have just sold an investment property but still have two investment properties and your PDH - all with mortgages outstanding - and you are planning to build a new house in the next couple of years. Is that all correct?

    If it is, then just keep your cash on deposit - check out the Best Buys section for the best rates - and liquidate your remaining properties before you self-build (assuming the new build will cost more than your savings plus remaining home equity).

    Keep it simple.
     
  3. johnny1234

    johnny1234 Frequent Poster

    Posts:
    132
    To quote an expert that I know, who says, 'are you better off getting a small deposit rate return, rather than risking your capital and losing the most of it ?'
     
  4. SBarrett

    SBarrett Frequent Poster

    Posts:
    2,270
    That is too short a term to invest your money. The potential losses outweigh the potential gains. Listen to what Sarenco and Johnny said and play it safe, leave it in cash.


    Steven
    www.bluewaterfp.ie
     
    rob oyle likes this.