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Starting Out

  • 22-10-2009 8:54pm
    #1
    ShoulderChip
    Registered Users, Registered Users 2 Posts: 3,875 ✭✭✭


    Gotta job have about 600-800 a month to save.

    I like the idea of investing it though, as I would be more inclined to put more in if it was riskier/ more exciting then simple saving.

    I do not know where to begin however, I have a rabodirect account,
    I was considering putting a 100 euro in each of the rabodirect investment funds and eventually reading more up on them and concentrating on some over others.

    Is there any other ways I could invest money, or does anyone have any suggestions of places to start?

    My goal is to save money for 3-4 years and then spend it all on a round the world trip over a year or two.


Comments

  • #2
    ShoulderChip
    Registered Users, Registered Users 2 Posts: 3,875 ✭✭✭ShoulderChip


    Ok I have ordered a transfer of 500euro into my rabodirect account, it will go through for wednesday so I have until then to decide which fund to invest it in, would appreciate any advice.


  • #3
    Raskolnikov
    Registered Users, Registered Users 2 Posts: 10,148 ✭✭✭✭Raskolnikov


    You have stated that your goal is to go on an around the world trip within three or four years? If this is the case, you're best of going for a regular savings account. Why? Firstly, the volatility of a 3-4 year timeframe could leave you badly exposed and put your plans in jepordy. Secondly, I don't think that Rabo funds offer good value for money. Regardless of whether the fund is up or not, they'll take 2% every year and when you decide to cash out, they'll take a further 0.75% of your money. Yuck.

    Here is a list of the best regular savings schemes.

    http://www.askaboutmoney.com/showthread.php?t=20747


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