Hi there,
Very new to this so apologies for the basic questions/understanding. Trying to educate ourselves as much as possible but would appreciate any advice that is offered.
I was recently made redundant due to COVID and received a nice lump sum. I have now secured employment and will be starting in 2 weeks. We have cash savings of €122,000 sitting in deposit accounts. We are hoping to get on the property ladder in Dublin the next 18months and also looking to get married within 18-24months.
We recently spoke with an independent broker about to get advice so would like to get opinions on this. We were advised to invest €100,000 and monthly savings of €2000 into Zurichs easy access fund to be invested in Prisma 5 Fund for the next 5 years.
We're hesitant to invest that much due to mortgage and wedding mentioned above in the short term but also conscious that our savings are sitting in deposit accounts with v low interest rates. Should we proceed with this recommendation?
I've outlined some details below but please let me know if I'm missing anything.
Age: 31
Partner's age: 31
Annual gross income from employment or profession: 115k (incl annual bonus and RSU's)
Annual gross income of spouse: 100k (incl annual bonus)
Type of employment: Private Sector
Currently renting in Dublin at €17,500 per annum and have a car loan of €4200 per annum (3 yrs remaining). No other debt.
Savings and investments:
Cash savings in deposit accounts €122,000
Pension scheme:
I currently don't a pension scheme set up but will be prioritising this once i start in new company. Employer does not contribute towards this.
Partner: Contributing 6% of salary which is matched by employer and has been paying this for 2.5yrs.
Any advice would be much appreciated. Thanks in advance.
Very new to this so apologies for the basic questions/understanding. Trying to educate ourselves as much as possible but would appreciate any advice that is offered.
I was recently made redundant due to COVID and received a nice lump sum. I have now secured employment and will be starting in 2 weeks. We have cash savings of €122,000 sitting in deposit accounts. We are hoping to get on the property ladder in Dublin the next 18months and also looking to get married within 18-24months.
We recently spoke with an independent broker about to get advice so would like to get opinions on this. We were advised to invest €100,000 and monthly savings of €2000 into Zurichs easy access fund to be invested in Prisma 5 Fund for the next 5 years.
We're hesitant to invest that much due to mortgage and wedding mentioned above in the short term but also conscious that our savings are sitting in deposit accounts with v low interest rates. Should we proceed with this recommendation?
I've outlined some details below but please let me know if I'm missing anything.
Age: 31
Partner's age: 31
Annual gross income from employment or profession: 115k (incl annual bonus and RSU's)
Annual gross income of spouse: 100k (incl annual bonus)
Type of employment: Private Sector
Currently renting in Dublin at €17,500 per annum and have a car loan of €4200 per annum (3 yrs remaining). No other debt.
Savings and investments:
Cash savings in deposit accounts €122,000
Pension scheme:
I currently don't a pension scheme set up but will be prioritising this once i start in new company. Employer does not contribute towards this.
Partner: Contributing 6% of salary which is matched by employer and has been paying this for 2.5yrs.
Any advice would be much appreciated. Thanks in advance.