Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Investment Advise for 26 year old

  • 19-12-2015 9:15pm
    #1
    titan18
    Registered Users, Registered Users 2 Posts: 12,027 ✭✭✭✭


    Hi,
    I know this gets asked a lot, so once more can't hurt. I've about 20k in savings atm after working 2 years. I'm 26, no debt, live at home, and have the money in bank account + have 2 AIB Online Saver accounts. I'd put about 1000 into those two accounts every month. These provide 2% interest up to 1000 each month and have to be drawn down at end of each year to less than 1000.

    I have very little expenses (basically 500 to parents a month along with about about 50 on lunches and 50 on transport for the month). Earning about 35k (before tax) a year when taking into account bonuses and performance related pay. I also have 5% going into a pension fund that gets taken out of my monthly pay by the company, and they contribute 10%.

    Ideal scenario, I save for house deposit for another 4-5 years before getting a house, as I'd like the mortgage to be as little as possible. I'm basically averaging about 10k saved a year, but I'd be hoping salary will continue to rise and allow me save more, so by 30, I'd be looking at about 60k in savings.

    What would you advise to do with current savings and future money, in order to maximise returns? I'd like to keep the money liquid enough that I can withdraw within reasonable notice periods (within 6 months I guess).

    If continuing on current course is the best choice, I'll continue with that, but ideally looking for something that can outperform the AIB Regular Saving accounts.


Comments

  • #2
    lcwill
    Registered Users, Registered Users 2 Posts: 259 ✭✭lcwill


    Just keep going!

    You have no debt, pension is on track (just make sure it is invested appropriately for your age - 100% stocks, diversified across sectors and internationally), plenty of savings in case of emergency, and building up a deposit for a house. What else is there to add?

    Focus on your career, keep increasing your income, keep saving, keep learning, don't forget to have fun along the way.

    And keep an eye out for the best saving accounts as they are always changing - no need to do anything else with house deposit money, just keep it in the best saving account you can find.


Advertisement