What move next?

R

ronan mcginn

Guest
I am 50 living with M.S. but still working, about 20K savings and 2max SSIA coming. Should I concider buying to rent, or other investments like: stocks/ funds??
 
Buying to rent does not look attractive these days,because of high property prices and rising interest rates.

I recommend you talk to a independant financial adviser about how to invest the money.
 
What is the prognosis - e.g. do you expect to have to give up work at some stage before normal retirement age? If so would you be entitled to insurance and/or welfare payments that should be factored into any projected budgeting analysis that you do? Do you already own your own home?
 
ClubMan,
I expect to give up work early. Will have State pension and my home is paid for.

Ronan
 
By state pension do you mean old age contributory (PRSI linked) or non contributory (means tested) pension? Would you not also be entitled to some other illness or disability welfare payments?

Is €20K plus the two maturing SSIAs (another €40K I presume?) the sum total of your savings/investments? Do you have any pension, PHI etc. cover of your own or with the job?

Have you done an income/expenditure budget for your existing situation and then worked out what you need to have coming in to match or approach that or some other level of lifestyle if you are no longer working?
 
infocal said:
keep the cash in your pocket this moment. start thinking property inverstment after year 2007.
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Pure speculation and hardly well rounded investment advice. Nobody can predict the future and dismissing a single asset class and advising somebody to sit on the cash is hardly prudent advice.
 
ClubMan said:
Pure speculation and hardly well rounded investment advice. Nobody can predict the future and dismissing a single asset class and advising somebody to sit on the cash is hardly prudent advice.
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Since Ronan owns his own home,he is very heavily weighted in the Irish Property market,given that his only other assets are about €60k in cash.

With rising interest rates,bonds are looking like a poor investment,and they will also impact equity values if they continue to rise,so a high interest deposit account may be the best option for the forseeable future.
 
ClubMan,

Will heed your advice,thank you. I will get public service pension (25yrs.)and no insurance but I will also qualify for disability. I am also invested with Royal Liver Managed Fund,about 15K............Ronan
 
Feel free to post your current and projected non working budget outlines so that people can comment in more detail.
 
ClubMan
Current income E44,000 and projected non working perhaps E17,000 should I need to stop now . Usual outgoings ESB etc.
 
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