Savings

G

Groucho

Guest
Hi,

Some savings advice please.I have 4000 Euro deposit and 500 per month ex -SSIA moneyto invest.I hope to leave this money in savings and not make any withdrawals for about 15 years. At least that's the plan!

Should I go for a deposit account like Northern Rock or would a, say,Quinn life fund be a better, if riskier, bet?
 
Savings
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How do you have €500 p.m. former SSIA savings? Were you funding your and your spouse's SSIA or something?

A lot depends on details of your overall situation - e.g. age, existing investment/savings/debts, short/medium/long term goals and the finances needed, attitude to risk/volatility etc. etc. However in general somebody looking at making regular contributions over c. 15 years should at least consider a low charges unit linked managed or index tracker fund possibly with a high equity content and risk/reward profile on the basis that over the long term the returns will outpaced many other options in particular deposits (and inflation!).
 
Thanks Clubman. The 500 is the SSIA combination of my spouse and I. I should said that have WE want advice. We are both in our early 50's. Hope to have all debts cleared in 3 to 4 years.At that stage we can put about another 1000 Euro per month into the savings.Basically trying to build up a nest egg.Would be prepared to encounter some risk.

What specific funds would you reccomend?

Thanks
 
Personally I would not make specific product or fund recommendations without knowing a lot more detail about your overall circumstances as I mentioned above.
 
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