E4,000 to invest

A

anfeardearg

Registered User
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Hi,

My 3 young kids were left E4,000 between them recently. I'd like to invest it for them but am unsure as to which plan to go for. The oldest is 7 so I suppose an investment or deposit account in the region of 8-10 years is what I'm after. I'm not interested in anything too risky as it's not my money. RaboBank are advertising a deposit rate of 5% which I'm leaning towards. Any advice?

AFD
 
I'm not interested in anything too risky as it's not my money
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Have a read of The Guide. You risk loosing the value of the money if you don't get a return on it that matches inflation as might be the case with a deposit account. An 8-10 year time frame would make an equity investment worth considering.
 
AFD - do you have a mortgage that has more than 10 years to go? If so, it might be worth considering putting it in to that and paying them back the 4k plus cumulative interest avoided. That gets around the DIRT. Inflation is another question....

Bob.
 
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