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€30,000 to invest - options?

  • 23-01-2008 10:39am
    #1
    Oriel
    Banned (with Prison Access) Posts: 5,154 ✭✭✭


    Hi Folks,
    I have €30,000 to invest. I was thinking about using €15000 of this to pay off my student loan, which I still very well might do.
    But failing that - what are my best options for making this money work for me?

    Cheers,
    Steve.


Comments

  • #2
    ixus
    Registered Users, Registered Users 2 Posts: 2,435 ✭✭✭ixus


    Oriel wrote: »
    what are my best options for making this money work for me?

    Hi Steve,

    Depends on what your goals are over the short-medium term (I sound like clubman on AAM :o).
    Have you got a job? Want to go Travelling? Want to/have bought a house?

    I wouldn't pay off the whole 15k personally, probably 10K of it and leave myelf with a small 5K loan repayment and 20K to work with.

    How are your qualifications shaping up at the moment employment wise? Could you do with upskilling or making yourself a more valuable asset for an employer? I say this because I don't think there's a lot out there to make your money work at the moment if you're not fully knowledgeable of the markets. And, with the potential or a recession, yes in the UK & Ireland, the money may be better used upskilling.

    I'd be inclined to keep 50% on deposit, 15-25% in gold and, with a bit of research, I'd look at small stocks with potential.

    Reasons :
    Deposit - safety first at the moment, even if inflation is going to erode this, I don't like the look of what's peeping around the corner.

    Gold - another safe haven in these times, and with the rate cut yesterday, this looks set to have a large upside soon.

    Small stocks - If you had 4/5 small stocks (small cap / penny stocks) which, with a bit of research you thought had serious potential, I reckon they're worth a look ahead of the large cap ones at the moment. Also, lets you pick 4/5 rather than 1/2 large caps with a greater position.

    Ixus


  • #3
    colingmurphy
    Closed Accounts Posts: 8 ✭colingmurphy


    Hi Steve,

    Some words of wisdom there for you from Ixus.

    If you are in a full time job with a steady income, then you can afford to invest some or all of that €30k, but you haven't got a job yet or if there are big purchases that you will need to make in the near future i.e. car, house, then you'll have to put it into something very safe.

    If you don't mind losing that money and want to look at higher risks, then you could look at buying some land in an emerging market which might yield terrific returns over a 5 year period. However that kind of investing/speculating isn't for the faint hearted.

    Regards
    Colin


  • #4
    xanthe
    Closed Accounts Posts: 154 ✭✭xanthe


    Bank of ireland have started to do a fund based on alternative energy... You cana pick up a booklet in any of the branches... I myself have invested init , but its not for the short term investor... 5 years minimum...
    Oriel wrote: »
    Hi Folks,
    I have €30,000 to invest. I was thinking about using €15000 of this to pay off my student loan, which I still very well might do.
    But failing that - what are my best options for making this money work for me?

    Cheers,
    Steve.


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