20k to invest - complete novice!

C

cathkc

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Hi
I am a 29 yesr old professional. I have a steady job with good prospects and currently with modest income 35k p/y. My longterm pathenr earns about the same.

In 2 months time I will come into €30k and I have no idea what to do with this money. The vast array of investment options is overwhleming!

Anyhow my partner and I own our own home - bought 2 years ago. I have a Rabo account which I save with regularly. I would really like to make this money work for me and am willing to invest at least 2/3 of it for 5 - 10 years hoping it would preform well. The other thrid - well new car and home improvements will do!

Anyone any suggestions of how I, as a complete investment novice, can even begin to consider my options would be greatly apprecaited?

Should I hire a independant financail advisor - or is the investment of just 20k to little to hire an advisor. If so any ideas what I could do with this money - seeing as I would be ok with parting from it for between 5 - 10 yrs and would consider myself willing to take a punt!


Thanks v much.....
 
Most of the banks including Rabo have V high interest rates now for people looking to capitalise on their SSIA savings. Personally I would stick it under the mattress as I have been stung in the past. You seem to have access to the internet so I would research, research, research in your own time. I would not put my trust in a 'so called' financial advisor who in fairness to them have to make a living but would not be all that interested in your well being. At least then you will only have yourself to blame if it all goes belly-up!!
 
Hi there,
Have you looked at rabo bank and noorthern rock. Quinn Direct also ahve funds - their SSIA did very well...

or you could be boring and put the money into your pension, where you would get tax back on what you put in...
 
What you should do depends very much on all your personal circumstances, e.g. any other loans you may have, credit card debts, etc. There are different risks and different ways and means of saving/investing if that is the right thing to do. Have a read of The Askabountmoney Guide to Savings & Investments to start getting up to speed. If this if not something you want to get deeply involved in then maybe an independant financail advisor might be the way to go.
 
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