Advice for 10-15k

GrizzleBear

Hi,

I have an extra €15,000 sitting in my current a/c doing nothing, so I would like to invest it or put it in some kind of savings account. Only thing is I wouldn't know where to start? I'm only 23 and don't want anything too 'heavy' or would require 2+ years of not being able to get to it. I also save around €300-400 a month.

Any advice? Or somewhere/somebody that could give me some?

Cheers!

topper_harley2

GrizzleBear wrote: »

Hi,

I have an extra €15,000 sitting in my current a/c doing nothing, so I would like to invest it or put it in some kind of savings account. Only thing is I wouldn't know where to start? I'm only 23 and don't want anything too 'heavy' or would require 2+ years of not being able to get to it. I also save around €300-400 a month.

Any advice? Or somewhere/somebody that could give me some?

Cheers!

If you don't want to tie it up for two years then forget about investing entirely.

Use ask about money thread below to figure out best bank return on savings in either term or issuant access account:

http://www.askaboutmoney.com/threads/savings-best-buys.90481/

Above threads are update very regularly with changes in rates

Sonnenblumen

GrizzleBear wrote: »

Hi,

I have an extra €15,000 sitting in my current a/c doing nothing, so I would like to invest it or put it in some kind of savings account. Only thing is I wouldn't know where to start? I'm only 23 and don't want anything too 'heavy' or would require 2+ years of not being able to get to it. I also save around €300-400 a month.

Any advice? Or somewhere/somebody that could give me some?

Cheers!

Such a small amount will yield nothing within 2 years on virtually any savings plan. If you want to invest, buy shares in 3 good FTSE companies paying divis of 4% p.a. You'll pay tax (c 50% on all divi income same rate as savings interest) but you want get 4% anywhere. In view of the UK Election results, Utility stocks are rock solid for next few years, so you can expect an appreciable increase in share price also. DYOR

winnie the poo

grizzlyg wrote: »

Another option is peer to peer lending. I started using it recently over the weekend with a crowd called <SNIP> and can lend money to a business at really good rates of return, you should check it out and do a bit of research but from what I've seen its a good thing

I like the look of this company. You can invest with small enough amounts and also earn a monthly return. Also I like the added moral element of investing in Irish business. I think this is something I may do in the next few months.

meaty_skeleton

Sonnenblumen wrote: »

Such a small amount will yield nothing within 2 years on virtually any savings plan. If you want to invest, buy shares in 3 good FTSE companies paying divis of 4% p.a. You'll pay tax (c 50% on all divi income same rate as savings interest) but you want get 4% anywhere. In view of the UK Election results, Utility stocks are rock solid for next few years, so you can expect an appreciable increase in share price also. DYOR

shell and Vodafone pay around 5% of a dividend and both companies are relatively cheap, shell has paid a dividend yearly for fifty years and no matter how bad oil is , its not going out of business

I see investing in both as cheaper and more rewarding than buying any kind of residential property today as while houses in rural areas will return a higher yield than 5% , capital appreciating is unlikely to match two major corporations over the long term

their are still decent income plays in some stocks

Cute Hoor

I would be very cautious about investing €15k in UK stocks over such a short period of time. Using the current bank buy/sell rate you would lose around €600 (4% of your money) if you were to exchange that amount into Sterling today and immediately transfer it back to Euro.

You are adding further risk to your short-term investment by adding the currency risk. If the GBP/EUR rate were to return to the same rate as it was 2 years ago today you would lose up to a further 20% of your investment. The exchange rate could work in your favour of course as well .... It would be safer imo to invest (for that short period) in Euro based dividend stocks if that was the road you chose to go.

On the peer to peer lending, you will get a fairly good return (paid monthly) but you will have to wait for 3 years before you get it all back, and it is obviously a risky investment and unregulated by the Central Bank as far as I know.