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Best option for a student.

  • 15-01-2006 2:49pm
    #1
    chicken_food
    Closed Accounts Posts: 939 ✭✭✭


    Im a 19 year old full time student who would like to see a return on my money. I was wondering what the best option would be. Id be putting in an initial capital of about 1000-2000 and then atleast 40-50 a month. Id say i would be leaving it for minimum of 5 years but probably longer depending on my situation then. Iv been reading up on the raboshares idea. Would that be of any use? It doesnt matter to me whether its a bank or broker deal. Im just looking for a package that suits me.
    All help is welcomed.


Comments

  • #2
    mikemac
    Closed Accounts Posts: 19,986 ✭✭✭✭mikemac


    I can vouch for the rabobank investment shares.

    Put money in the Emerging Europe fund and it's doing extremely well.

    Bear in mind you have to pay entry and exit fees so you're down money before you've seen any return.

    Why not use a rabobank savings a/c and get 3.2%


  • #3
    CCOVICH
    Closed Accounts Posts: 240 ✭✭CCOVICH


    micmclo wrote:
    Why not use a rabobank savings a/c and get 3.2%

    Why not use Northern Rock who offer 3.25%?

    Check out savings product offerings from BoSI and AIB as well, although these have significantly more ts and cs than either Northern Rock or Rabo.

    Quinn Life have lower charges than Rabo, albeit for a narrower range of more conservative index tracking funds. EBS also offer Summit Funds, which might be worth comparing to Rabo and Quinn.

    Note that 5 years would be considered a relatively short timeframe for investing in equities/equity funds.


  • #4
    chicken_food
    Closed Accounts Posts: 939 ✭✭✭chicken_food


    I know five years isnt too long. To be honest its just to get me in the habit of putting my money away so i dont spend it on trivial stuff. How hard is it to actually get the projected 5%-8% that rabo direct says. Can you also come away with less money than you put in or what?

    Il have a look in the local credit union 2moro and see what they say. Im currently with tsb,and although theres a few grand in it,its not actually making any money. im not looking for nor foolish enough to expect HUGE returns.Iv still got a long long way to go.

    Whats quinn life like? Is it similar to the rabo one?


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