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Advice

  • 17-01-2015 2:22pm
    #1
    Saracen11
    Registered Users, Registered Users 2 Posts: 27 ✭


    I am in my mid 20s and I have €8000 in savings that I don't need access to for 5/6 years. I am relatively risk adverse and am looking for a better return than is currently available in long term saving.

    Any advice? What would you do?


Comments

  • #2
    BabySlam
    Closed Accounts Posts: 349 ✭✭BabySlam


    National state savings - no DIRT, tax free , safe


  • #3
    Saracen11
    Registered Users, Registered Users 2 Posts: 27 ✭Saracen11


    BabySlam wrote: »
    National state savings - no DIRT, tax free , safe

    Thanks for your comment. I was going to go with state savings but the rates have been slashed so much.

    Anyone have any advice on relative safe bets for investment? Would an ETF be the way to go?


  • #4
    thesaturdayman
    Registered Users, Registered Users 2 Posts: 532 ✭✭✭thesaturdayman


    Saracen11 wrote: »
    I am in my mid 20s and I have €8000 in savings that I don't need access to for 5/6 years. I am relatively risk adverse and am looking for a better return than is currently available in long term saving.

    Any advice? What would you do?

    Bank of Ireland shares honestly will be 3-4 times current price by then


  • #5
    robp
    Banned (with Prison Access) Posts: 1,934 ✭✭✭robp


    Saracen11 wrote: »
    I am in my mid 20s and I have €8000 in savings that I don't need access to for 5/6 years. I am relatively risk adverse and am looking for a better return than is currently available in long term saving.

    Any advice? What would you do?

    Bear in mind 5/6 years is not a very long time and if you pick the right shares all may be well there is a higher chance of loosing money if you must cash out in 5/6 years time.


  • #6
    moneymad
    Registered Users, Registered Users 2 Posts: 882 ✭✭✭moneymad


    Buy usd against the yen. Buy euro against the dollar. Those are all long term. The yen will go to 1.40, so will the euro. Both of those will give you a nice return on your savings over the next few years.
    Or you could just wait for the next big crash to come and go from there.


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