No problem. You have to start somewhere. Have a read of the key topics pinned to the top of this forum. In particular the AAM and IFSRA guides to savings & investments which explain stuff like how to plan/save for short, medium and long term goals.Are there other options? And I can imagine regular posters throwing eyes to heaven at my green-ness - please excuse it!
Even an actuary cannot predict the future performance of a unit fund.If you know an actuary he / she would have a formula that would give a fairly accurate figure as to what you could expect at say 5, 10, & 12% per annum over 5 and 10 years.
Myself and the hubby are planning to start saving on a monthly basis. We can easily afford to save up to 2k a month between us, but it will more likely be somewhere between 1k-1.5k a month. A lot of the savings accounts I've looked at have maximum limits well below this. Any ideas on where is best to deposit our hard-earned cash are welcome.
I haven't seen the details but I believe that Halifax are paying 6.5% for regular savers. If it's like the others it will be for two years only, limited to €1,000 per month with no hidden charges.
Still, sounds like a very good deal to me and will give you a nice lump sum in two years.
Based on an ECB rate of 3.5% the banks are competing to buy this money - presumably hoping you will leave the money on an ordinary deposit rate after this time.
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