Lump Sum to Invest

[Radiowriter]

Hi Guys,

I have €50k to invest/deposit.

From what I can gather from the Best Buys Forum I'm looking at €10k into Rabo and €40k into Irish Nationwide Flexisaver 21.

I also plan to save between €200-€300 per month into the Flexisaver account. No reason I can see at the moment to make any withdrawals for 2 years.

Any advice appreciated if I should be looking at something else.

Thanks.

 

[ClubMan]

I have €50k to invest/deposit.

Bear in mind that investing and depositing are really different things. With deposits you will probably just about beat inflation even with the current relatively high rates on offer (net of DIRT). Regular saver rates are even better but, for example, 7% on 12 monthly lodgements €1K is not €12K @ 12% since not all the money is on deposit for the full year. So with deposits you will generally have easy access to your money and capital security and this is suitable for the short/medium term especially if the money is earmarked for something specific. With an investment (e.g. a low charges unit linked fund) you will generally not have capital security, the value of your investment may exhibit volatility but over the medium/long term the net returns are likely to be better than deposits.

If you read the AAM Savings & Investments key topics and the AAM & IFSRA guides to savings & investments you will get more info on how to assess your overall situation and to figure out what short, medium and long term savings/investment options are most suitable for your specific needs. If necessary get indepdent, professional advice from an authorised advisor or good multi-agency intermediary.

 

[Radiowriter]

Thanks Clubman.