Investment Fund

[Killter]

Hi folks

I was reading an article in an investment mag last year about investing a set amount monthly into a fund that invests by compound interest with the aim to keep it going for a good number of years (with a view to retirement in 30 yrs or so time).....but Ive forgotten what this investment system is!

Can anyone tell me whats its called and the pros and cons?
Would it be better to pump up my PRSA instead?

Any help would be appreciated!

 

[ClubMan]

Can anyone tell me whats its called and the pros and cons?

Are you sure that it's not simply a deposit account or else a regular contribution unit linked fund which invests (indirectly) in stocks and shares and other assets both of which effectively compound returns?

Would it be better to pump up my PRSA instead?

Are you aware that there are significant tax advantages with a pension/PRSA which are not available with other investments? The drawback is that the money is locked away until retirement but this could be a blessing (in the form of forced discipline) in disguise.

Perhaps if you take a step back and outline what it is you're looking for and a bit about your overall financial/personal circumstances people can post more informed comments/feedback?