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What to do with 10k for 2 years?

  • 20-06-2014 9:00am
    #1
    Digital Society
    Registered Users, Registered Users 2 Posts: 972 ✭✭✭


    Hi

    Im looking for some advice.

    Im in college and wont graduate for a couple of years. Mature student 30 years of age. I dont own a property and this will be a deposit or part there of.

    Ive managed to pick up a good paying job for the summer and have worked out that ill live and have an extra 10k in 3 months time.

    Obviously i wont get a mortgage now but will hope to get one after i get full time work in 2 years time . I work in Software and pretty much guaranteed a decent job now that i have experience aswell. Ill expect about 30k starting off at least as im on more than that now before i even graduate.

    Is there anything worth doing with 10k for 2 years or should i just leave it in the credit union?

    Thanks


Comments

  • #2
    valderrama1
    Closed Accounts Posts: 53 ✭✭valderrama1


    Ok so you're planning to buy a house/apartment in two years time?
    In that case (you have a definite plan for the money) I would keep the 10 grand in a savings account. 2 years is just too short a time span for investing. It's par for the course to have a correction every so often in stocks, so there could easily be a drop of 15 or 30%.
    Probably a savings account would be your best bet even though the interest rates are abysmal at the moment. Prize bonds are an option also - at least with those you'd have a chance of winning something!


  • #3
    topper_harley2
    Registered Users, Registered Users 2 Posts: 537 ✭✭✭topper_harley2


    valderrama1 wrote: »
    Probably a savings account would be your best bet even though the interest rates are abysmal at the moment. Prize bonds are an option also - at least with those you'd have a chance of winning something!

    On the right track first. Prize bonds you have a chance, a tiny chance of winning something. They are a total waste of time IMO. Get your 2 or 2.5 % savings account and get guaranteed interest would be my advice.


  • #4
    el diablo
    Registered Users, Registered Users 2 Posts: 5,767 ✭✭✭el diablo


    topper_harley2 wrote: »
    On the right track first. Prize bonds you have a chance, a tiny chance of winning something. They are a total waste of time IMO. Get your 2 or 2.5 % savings account and get guaranteed interest would be my advice.

    I agree about the Prize Bonds. Complete waste of time and money.

    Orange pilled.



  • #5
    spear_mint
    Banned (with Prison Access) Posts: 41 ✭spear_mint


    Digital Society wrote: »
    Hi

    Im looking for some advice.

    Im in college and wont graduate for a couple of years. Mature student 30 years of age. I dont own a property and this will be a deposit or part there of.

    Ive managed to pick up a good paying job for the summer and have worked out that ill live and have an extra 10k in 3 months time.

    Obviously i wont get a mortgage now but will hope to get one after i get full time work in 2 years time . I work in Software and pretty much guaranteed a decent job now that i have experience aswell. Ill expect about 30k starting off at least as im on more than that now before i even graduate.

    Is there anything worth doing with 10k for 2 years or should i just leave it in the credit union?

    Thanks


    banco santander pays a dividend of nearly 6% , the crisis in 2008 absolutely battered the stock and its still only worth half of its all time high , its a spanish bank but half its revenue comes from latin america , its the largest bank in the eurozone and has a very significant presence in the uk , if your prepared to tollerate the possibility of a 20% dip ( may not happen ) , i think you will be handsomely rewarded in two years , the dividend makes waiting a pleasure

    id try and buy below 7.50


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