Short Term Savings Advice

Donnie

Registered User
Messages
57
Hi all,

I recently received a lump sum of €20,000 and am wondering if anyone can give any advise on how I can earn the best and relatively low risk return on this cash i.e. a short term savings deposit product, investment fund, shares etc.

It is important to that that note that will I need easy access to the cash in about 18-24 months time (for home renovations). I have no outstanding loans that I need to pay off other than the mortgage on the property.

I already have some savings in the following:
1. Credit union (€3k),
2. KBC regular savings account (€6k)
3. KBC Sivek Global Low Investment Fund (€9K)
4. Share Portfolio on Degiro (€19k, €8k of which is gain on initial investment)
5. ESOP (Employee share scheme) (€7k)
6. Private Pension plan that I will avail of at retirement age

Thanks all,
Donnie
 
You are not going to get any meaningful low risk return over such a sort timeframe.

Just maximise your pension contributions and pay down your mortgage ASAP.

Keep it simple.
 
You are not going to get any meaningful low risk return over such a sort timeframe.

Just maximise your pension contributions and pay down your mortgage ASAP.

Keep it simple.
Thanks. I was thinking the same but just wanted to ask for any further guidance just in case. I agree I should ideally look to max out my pension AVCs and pay off the mortgage ASAP with any additional cash I have but I will need access to these funds in 18-24 months in order to fund a home renovation plan.
 
Thanks. I was thinking the same but just wanted to ask for any further guidance just in case. I agree I should ideally look to max out my pension AVCs and pay off the mortgage ASAP with any additional cash I have but I will need access to these funds in 18-24 months in order to fund a home renovation plan.
Stick them in savings bonds for the period.
 
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