€10k to invest

kennyb3

I currently have €10k in a 21 Day Notice Investment Account with PTSB, however with the fall in interest rates it is now only earning 2.50% AER. (i think and not the 4% quoted on the site)

Im looking at the new 100 Day Fixed Term with PTSB (4.06% AER).

I would be prepared to tie up the money for 6 months but not a year. What would you invest in if the money was yours? is there a more attractive option?

Any non bank alternatives worth persuing?

Advice appreciated

ixus

How safe is your job? How certain are you? What might you need to money for in the near future? How much risk are you willing to take i.e. how much are you willing to potentially lose?

My advice is to keep that 10K in a short term notice account at the moment. Six months is too long given present economic conditions.

kennyb3

ixus wrote: »

How safe is your job? How certain are you? What might you need to money for in the near future? How much risk are you willing to take i.e. how much are you willing to potentially lose?

My advice is to keep that 10K in a short term notice account at the moment. Six months is too long given present economic conditions.

job is very safe, work in small accountancy practice and would imagine id be one of the last few to be let go (hope im not jinxing myself) if it came to that. but we are doing well.

want to keep 10k for deposit for house. 5k for travelling (will add to it) and as safety net as plan to move out for 6 to 12 months in sept with gf before going travelling.

currently living at home, future plans as outlined above. hope to but house inside 2 years.

dont wanna gamble it but would be willing to invest 2k or so in shares for higher potential return

dragonbet

I wouldnt venture to deep into the shares, especially with an outlook of 6-9 months, personally though, if you were holding out for 12months plus I'd split it between AIB and BOI, but inevidably greed will consume you and if they rise you'll be greedy for more and if they fall you just wont have the heart to sell them.

For short term its probably best leaving it where it is, or if ya wana risk it for a biscuit, turf 5k into BOI/AIB and watching the share price rise or fall will provide plenty of entertainment for the next 6months...!!

2k isnt really worth a fiddlers **** in terms of shares, €100+ will be chewed up straight away with fees and ****.!!

ixus

kennyb3 wrote: »

job is very safe, work in small accountancy practice and would imagine id be one of the last few to be let go (hope im not jinxing myself) if it came to that. but we are doing well.

want to keep 10k for deposit for house. 5k for travelling (will add to it) and as safety net as plan to move out for 6 to 12 months in sept with gf before going travelling.

currently living at home, future plans as outlined above. hope to but house inside 2 years.

dont wanna gamble it but would be willing to invest 2k or so in shares for higher potential return

I don't know how much of a mortgage you hope to be able to obtain with a 10K deposit. Even if the other half is putting up another 10K. 20K down is very little theses days. I really don't want to go on a rant about 90%+ motgages. IMHO, it should be 80% mortgages max. It's why the economy is where it is today.

My financial advice to an accountant is to keep saving,keep debt as close to 0 as possible for the time being. If you want to buy a house,make lifestyle cutbacks so as to increase your deposit base which in turn will decrease the amount you potentially have to loan.

I have close friends who work for small accountancy firms and their outlook is not so rosy, unless you're involved in liquidation.

You are potentially in the prime position of having a decent deposit with the arse falling out of the housing market. In 12-18 months, that deposit could go a long way.

Find the best possible short term deposit rate and park it there. You won't get great rates anymore due to low ECB rates. The banks that offer high rates are generally the ones that need money urgently as they are trying to increase their tier 1 ratio.