janeferguson
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Someone I know is on Disability Allowance and wants to learn about investing . He has a few k. What would be best way to start?
Investing on Disability Allowance
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What has being on Disability Allowance got to do with investing?
A question like this probably really needs a Money Makeover to address properly.
A question like this probably really needs a Money Makeover to address properly.
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janeferguson
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What it means is he wants to learn about investing . What would be good for someone on DA ,given he only has a few k. Also will it affect his welfare and how
The means testing that applies to DA is outlined here:
Disability Allowance
A weekly payment to people that have an injury, illness or disability which is expected to last more than a year. Find out how to qualify and rates of payment.
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Read reliable sources about it before committing any money to it. To be honest there isn't a lot to know in my opinion. Just stick money in a low charges passive index tracking fund or invest it in a diversified basket of shares for the long term. Others may have different and possibly more complicated approaches though.
Whether or not this is appropriate for your friend is impossible to tell given the sparse information provided. E.g. if they have debts or are struggling to make ends meet on DA then investing probably shouldn't be their priority. They can still learn about it in theory without risking any money though.
This post and the wider thread may be worth reading -along with many others in a similar vein - even if the context is different (someone with €1M rather than someone on DA).
What to do with a million euros?
Personal details Your age: 49 Your spouse's age: 54 Number and age of children: 2 aged 9 and 14 Income and expenditure Annual gross income from employment or profession: €30,000 (state job) Annual gross income of spouse/partner: €60000 (state job) Pension: have maxed AVC’s (should I also...
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janeferguson
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