Best no risk deposit
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Best Buy - Savings Best Buys
Savings Best Buys: There are 3 savings best buy threads on AskAboutMoney that are updated frequently. Instant Access and Notice Accounts - Lump sum variable rate savings. Fixed Term Deposits - Fixed Lump Sum Term Deposits from a few months to a few years. Regular Savings - Smaller sum...
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DirectDevil
Registered User
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Although the return rates for State Savings products are low the security is high as they are state backed and there are no tax complications.
Link https://www.statesavings.ie/our-products
Link https://www.statesavings.ie/our-products
The tax "complications" with most deposit accounts are none (DIRT deducted at source) or minimal (declare DIRT via myAccount) and the security of most, if not all, banks is not in question.
But deposit rates and state savings rates are marginal and money will lose value over time due to inflation, so some risk/volatility has to be countenanced in order to try for better returns over the medium/long term.
You can buy additional state savings products as you need. Any limit on total holdings should be stated in the terms and conditions. Get an SSCN and you should be able to do most or all transactions online.
Ireland State Savings - State Savings Customer Number | SSCN | State Savings
The State Savings Customer Number (SSCN) is your unique Customer Number that identifies you with State Savings and enables you to transact with us easily.
www.statesavings.ie
I had about €30k in various deposit accounts and around €15k in an investment account which lost 10 percent of its value when the Ukraine war happenedYou can buy additional state savings products as you need. Any limit on total holdings should be stated in the terms and conditions. Get an SSCN and you should be able to do most or all transactions online.
Previous losses on shares aren't a reason to throw the equity baby out with the negative experience bathwater. Did you have a diversified basket of shares and make prudent/informed buying and selling decisions?Ireland State Savings - State Savings Customer Number | SSCN | State Savings
The State Savings Customer Number (SSCN) is your unique Customer Number that identifies you with State Savings and enables you to transact with us easily.
Duke of Marmalade
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Try this Government bond below, the .20% Treasury Bond 2027 one. It matures in May 2027 so it is directly comparable with 4 year National Solidarity Bond which pays 0.50% AER.
Goodbody charge .35% commission and €246 per annum for execution only. So €100k invested in the govie would earn after tax (capital gains are tax free) 2.08% AER i.e. more than 4 times the solidarity bond.
Brendan Burgess
Founder
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But you have lost 10% on your deposit accounts due to inflation.
At least with the shares, they are likely to recover any losses.
Brendan
Equity investments are going to be volatile.
You don't actually lose money until/unless you sell at a loss.
You don't say what charges applied.
Investing in equities - ideally directly - and holding a diversified basket of shares (or even just one already diversified conglomerate share - Berkshire Hathaway or similar) for the long term is the most likely path to best returns.