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savings for babies college fund :)

  • 30-01-2015 3:14pm
    #1
    jobless
    Registered Users, Registered Users 2 Posts: 2,183 ✭✭✭


    Hey,

    what are the best options for saving for the wee lads future?.... are government state savings the best option?...its money that wouldnt be touched


Comments

  • #2
    JTMan
    Registered Users, Registered Users 2 Posts: 5,558 ✭✭✭JTMan


    lump sum or regular saving? What timeframe?


  • #3
    jobless
    Registered Users, Registered Users 2 Posts: 2,183 ✭✭✭jobless


    JTMan wrote: »
    lump sum or regular saving? What timeframe?

    regular savings


  • #4
    NeilMcG15
    Registered Users, Registered Users 2 Posts: 4 ✭NeilMcG15


    A unit linked savings plan is the best long term option for a college fund.
    Min term = 10 years.
    Contact your financial advisor to arrange ðŸ‘.


  • #5
    JTMan
    Registered Users, Registered Users 2 Posts: 5,558 ✭✭✭JTMan


    jobless wrote: »
    regular savings

    Have a read of this.

    The KBC 3.50% regular saver option might be your best bet. Nationwide UK (Ireland) pay 4.00% but the account is restricted to 15 months. You will need to review rates regularly.


  • #6
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,858 Mod ✭✭✭✭Henry Ford III


    JTMan wrote: »
    Have a read of this.

    The KBC 3.50% regular saver option might be your best bet. Nationwide UK (Ireland) pay 4.00% but the account is restricted to 15 months. You will need to review rates regularly.

    Take DIRT out of that and it'll struggle to match inflation.

    I'd be more inclined to go for something more adventurous.


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  • #7
    CarpeDiem85
    Closed Accounts Posts: 774 ✭✭✭CarpeDiem85


    I'm thinking about the same for my child. I'm only saving €25 per month which I'll increase to €50 by the end of this year. Are the Post Office savings accounts any good?


  • #8
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,858 Mod ✭✭✭✭Henry Ford III


    CarpeDiem85 wrote: »
    I'm thinking about the same for my child. I'm only saving €25 per month which I'll increase to €50 by the end of this year. Are the Post Office savings accounts any good?

    Not much imho. You should be looking to make 5-7% p.a. That'll require a degree of risk. No need for anything silly though.


  • #9
    JTMan
    Registered Users, Registered Users 2 Posts: 5,558 ✭✭✭JTMan


    Henry Ford III wrote: »
    Take DIRT out of that and it'll struggle to match inflation.

    I'd be more inclined to go for something more adventurous.

    By inflation do you mean deflation? Eurozone deflation is -0.60% at the moment. The KBC 3.50% beats that.
    You should be looking to make 5-7% p.a.

    Good luck with that.


  • #10
    jobless
    Registered Users, Registered Users 2 Posts: 2,183 ✭✭✭jobless


    Henry Ford III wrote: »
    Not much imho. You should be looking to make 5-7% p.a. That'll require a degree of risk. No need for anything silly though.

    i havent a clue about investing, what kind of things do you recommend


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