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~€8K to invest, 24 years old, no prior experience

  • 10-06-2015 12:48am
    #1
    Chain Smoker
    Closed Accounts Posts: 1,484 ✭✭✭


    Hey guys,

    I've currently got about €8k free that I feel like would be better placed in some investments than at my immediate disposal. What I'd ideally like to do is approach it in two different ways.

    With the first half, I would like to put it into some kind of system where it's effectively locked off from me for one or two years and is reasonably low risk (but not no-risk, I assume there's a significant difference in the returns). To be honest it'd be just as much about me not being able to burn through it as anything else, my current ventures may leave me flat on my arse in a year or two so it'd be nice to have a small reserve.
    With the second half, I mostly want to get started a bit with investing by myself. I guess I'd be looking at buying some fairly solid shares or something like that (e.g. just ones that seem like they wouldn't be volatile over years). My whole family have a tendency to leave money idle in bank accounts and that seems kind of silly to me when you could just get into the habit of diversifying and moving funds around to solid investments every few months or so instead.

    So I guess my primary questions are:
    1. Are these sums of money too small to be able to do anything with?
    2. Would I be significantly better off pooling it all into some low risk investment fund type thing that might have a minimum investment threadhold?
    3. Are there any especially good articles for people in my situation which you may be able to recommend?
    4. Does the bank you're with impact the range of investments you can make?
    5. With shares on this level, should I be looking at prices or their dividend history? Which side is most likely to bring me a return on investment?


    I'll probably think of more questions at a more reasonable hour of the day but hopefully I've put in enough there to show how much (i.e. how little) of a grasp I've got of everything, thanks for reading!


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