Hi
I'm looking for advice re my savings and how to get the best/safest return.
I'm a 28 year old male and not in a serious relationship presently.
My savings are as follow (rounded to nearest 100 euro in each case): -
TSB current account - 3,000 EURO
TSB investment account (21 days notice) - 25,000 euro
TSB regular savings a/a (21 days notice) - 14,200 euro
Credit union account 25,500 euro
Bank of Ireland Life evergreen Fund 21,600 euro. (Into which I am contributing 330.75 euro monthly)
Total 89,300 euro.
I am lucky at the moment in that I'm living at home with my parents rent free and my outgoings aren't major. My take home pay is approx 535 euro per week and even after my contributions into the evergreen fund I would be quite comfortably able to save 300 euro per week. Well this figure varies week to week obviously but averaged out. I don't have any overdrafts, loans, credit card bills etc. I am genuinely due a promotion and have being told as such by the boss but there is a freeze on promotions at the moment. There is a freeze on overtime also which I will discount for the moment. With a promotion I could genuinely expect 5k extra per annum gross. Now when this will happen is another matter.
My first concern is the credit union account. I heard last week on the radio that many credit unions will not be declaring a dividend this year. Was in at mine on Saturday and asked what the situation was there. The teller told me it was just too early to tell but even if one was paid not to expect anything and if a small dividend was paid to look at it as a bonus. So think it may be best to draw all this money out bar a few quid to keep a/c open.
The BOI evergreen Fund has being a real thorn in my side. I have invested over 30k in it and it had lost approx one third of its value. However, over the last few months it has being showing signs of recovery. Was pondering encashing this or part of it earlier in the year but think it may be best to sit it out for a recovery/ hope of recovery. Am keeping an eye on it
On the TSB savings accounts I don't know the current interest rates but this time last year they were relatively competitive. Will find out current rates in due course. There is probably ideally too much cash in my current account. With the new savings a/c I plan to open from credit union monies I would transfer the most of this cash too.
Could somebody provide me pointers on the best savings account options available please. Would I get a better rate by consolidating all my savings into the one account? Any pointers on what I should do re the evergreen Fund?
Although I don't foresee any major expenditure in the next months I am keeping a close eye on the housing market. If a property presented itself at the right price I would buy. Purley speculation on my part but I think house prices have more to fall plus I sincerely believe house are overpriced even presently. I don't plan on being a slave to a mortgage for the next 35 years though. 10 years at most and nearer 5 hopefully. I would plan to use as much of my savings as possible to pay for house. Hence I am a bit weary of committing myself to long term savings plans. The main thing I want is a return of my savings and after that the best possible return on my savings.
Any help appreciated and any information needed that I am not including please ask
Stevie
I'm looking for advice re my savings and how to get the best/safest return.
I'm a 28 year old male and not in a serious relationship presently.
My savings are as follow (rounded to nearest 100 euro in each case): -
TSB current account - 3,000 EURO
TSB investment account (21 days notice) - 25,000 euro
TSB regular savings a/a (21 days notice) - 14,200 euro
Credit union account 25,500 euro
Bank of Ireland Life evergreen Fund 21,600 euro. (Into which I am contributing 330.75 euro monthly)
Total 89,300 euro.
I am lucky at the moment in that I'm living at home with my parents rent free and my outgoings aren't major. My take home pay is approx 535 euro per week and even after my contributions into the evergreen fund I would be quite comfortably able to save 300 euro per week. Well this figure varies week to week obviously but averaged out. I don't have any overdrafts, loans, credit card bills etc. I am genuinely due a promotion and have being told as such by the boss but there is a freeze on promotions at the moment. There is a freeze on overtime also which I will discount for the moment. With a promotion I could genuinely expect 5k extra per annum gross. Now when this will happen is another matter.
My first concern is the credit union account. I heard last week on the radio that many credit unions will not be declaring a dividend this year. Was in at mine on Saturday and asked what the situation was there. The teller told me it was just too early to tell but even if one was paid not to expect anything and if a small dividend was paid to look at it as a bonus. So think it may be best to draw all this money out bar a few quid to keep a/c open.
The BOI evergreen Fund has being a real thorn in my side. I have invested over 30k in it and it had lost approx one third of its value. However, over the last few months it has being showing signs of recovery. Was pondering encashing this or part of it earlier in the year but think it may be best to sit it out for a recovery/ hope of recovery. Am keeping an eye on it
On the TSB savings accounts I don't know the current interest rates but this time last year they were relatively competitive. Will find out current rates in due course. There is probably ideally too much cash in my current account. With the new savings a/c I plan to open from credit union monies I would transfer the most of this cash too.
Could somebody provide me pointers on the best savings account options available please. Would I get a better rate by consolidating all my savings into the one account? Any pointers on what I should do re the evergreen Fund?
Although I don't foresee any major expenditure in the next months I am keeping a close eye on the housing market. If a property presented itself at the right price I would buy. Purley speculation on my part but I think house prices have more to fall plus I sincerely believe house are overpriced even presently. I don't plan on being a slave to a mortgage for the next 35 years though. 10 years at most and nearer 5 hopefully. I would plan to use as much of my savings as possible to pay for house. Hence I am a bit weary of committing myself to long term savings plans. The main thing I want is a return of my savings and after that the best possible return on my savings.
Any help appreciated and any information needed that I am not including please ask
Stevie
