You should really consider gettting independent professional advice - e.g. from an authorised advisor or good multi-agency intermediary (and not a tied agent such as the BOI salesperson) ideally on a fixed fee-paying basis. They would be better placed to do a proper fact find/financial review and recommend a range of possible savings/investment options matching your specific needs and circumstances and guide you in choosing those that best meet your needs.
i have neither and am not interested in starting.if i could just get this sum tidied up it would take a lot of my mind. thanks.Have you got a pension / PRSA? There may be tax benefits in channelling your investment into a pension product rather than buying into a fund.
....I'm prepared for some risk...
that is quite informative and thank youI get the impression that you have already decided that it is a product similar to the one recommended by your Bank that appeals to you most (?) and that your quandry is more to do with the Fund (?)
"Some risk" would imply, to me, that you are not going to invest it in one asset class (i.e. equities) and would prefer a mix of equities, property, bonds etc.
If this is the case, then there is no proven formula as to what mix will do best over the next ten years. The mix/diversification is more to do with what you feel comfortable with.
The fund you mention, at the end of July, had 59% invested in Equities, 22% Property, 12% Bonds and 7% Cash.
Of the top 10 Equity holdings, 6 of them are Banks (including BOI). The property is UK & Irish. Whether this offers you enough diversification is a matter for yourself to decide.
You probably should pay an advisor(not one that works for a Bank) for an hour of his/her time and this might help to focus on what you need.
The charges are also something you should ask about and consider, as you will definitely be able to purchase the exact same product at a fraction of the initial cost elswhere, once you know what product/company you want to invest with.
I hope this helps.
Can anyone recommend someone
Wow! What sort of "independent advisor" was this and what specific reasons did s/he give for this being the most appropriate investment strategy for your specific circumstances?I am in a not too dissimilar situation to OP and the advice I received from an Independent Advisor was to invest in currencies, particularly dollars at this moment in time.
Are they authorised/regulated by IFSRA to dispense such advice?The individual is a finance trainer and author of 2 books on wealth accumulation.
So why did they say that currency speculation was the most appropriate form of investment for you specifically? Why do they think that they can predict/time the forex markets?The main reason was with the dollar being so low that a bulk buy know could(should ! )yield profit in the medium term.
Maybe the way to accumulate wealth is to write books on wealth accumulation?The individual is a finance trainer and author of 2 books on wealth accumulation.
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