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where to put money?

marktsang · 2007-01-04 21:33:19

hi, i have 12k lump sum to put in a savings acc or invest also want to add 1 - 1.5k per month to it, want to do it for 5 years and wont be withdrawing any of it -- not interested in anything high risk where is the best place to deposit/invest it cheers, mark

04-01-2007 9:33pm

#1

marktsang

Closed Accounts Posts: 225 ✭✭

Join Date: August 2004

Posts: 187

hi,
i have 12k lump sum to put in a savings acc or invest also want to add 1 - 1.5k per month to it, want to do it for 5 years and wont be withdrawing any of it --
not interested in anything high risk

where is the best place to deposit/invest it

cheers,
mark

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Comments

#2 04-01-2007 11:31pm

BendiBus

Closed Accounts Posts: 2,074 ✭✭✭

Join Date: April 2003

Posts: 1936

If you want to be totally safe you need to put your money on deposit rather than invest in equities or bonds.

Put lump sum of €10K in Rabodirect.
Set up regular save at AIB €300pm (best regular saver rate)
Regular saver at BOI of up to €1000pm (but check Halifax, their regular saver may now beat the BOI one but only €750pm)
Anything extra but not guaranteed into Northern Rock.

I think that's the best you'll do on deposits.

But over 5 years you might do a lot better investing in low charging index tracking funds. Check Quinn Life or an online broker like MyAdviser.

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