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Got redundancy and want to be smart with it, need help.

  • 04-05-2016 1:33pm
    #1
    Registered Users, Registered Users 2 Posts: 3,379 ✭✭✭


    I'm 25 and I've just got 10k redundancy from work. I'm starting college in September as a mature student and I'm just looking at the best way to invest my money. I'm a complete noob on anything investment wise. Can anyone give me tips on what I could do?


Comments

  • Registered Users, Registered Users 2 Posts: 2,903 ✭✭✭Blacktie.


    You're going to college. I assume you won't have a job while in college so you'll be using that 10k up pretty quick.


  • Registered Users, Registered Users 2 Posts: 3,612 ✭✭✭Dardania


    hefferboi wrote: »
    I'm 25 and I've just got 10k redundancy from work. I'm starting college in September as a mature student and I'm just looking at the best way to invest my money. I'm a complete noob on anything investment wise. Can anyone give me tips on what I could do?
    Came here to suggest upskill, and sure enough you're doing that already!

    How will you pay for living expenses, and how long is course?


  • Registered Users, Registered Users 2 Posts: 3,379 ✭✭✭hefferboi


    Course is 4 years I have about 4K in savings and I'll be working 3-4 nights a week in a pub as well.


  • Registered Users, Registered Users 2 Posts: 753 ✭✭✭badboyblast


    Id stick it all in Silver, going very well at the moment!!


  • Registered Users, Registered Users 2 Posts: 499 ✭✭Roonbox


    Id stick it all in Silver, going very well at the moment!!
    second this advice.. I said the same a few weeks back in a similar thread.


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  • Registered Users, Registered Users 2 Posts: 2,435 ✭✭✭ixus


    Hold onto the cash. You may well need it down the line. It's not alot.


  • Registered Users, Registered Users 2 Posts: 5,834 ✭✭✭Sonnenblumen


    ixus wrote: »
    Hold onto the cash. You may well need it down the line. It's not alot.

    I'd agree or at least put in an account which you can access within 100 days or less but don't expect much interest (UK Nationwide seems best at the moment).

    Good luck with your new studies. :)

    If you wanted to invest a portion eg 50%, I'd recommend looking at National Grid (UK), Irish Continental Group and IFG Group. Good divis and reasonable capital appreciation and yawn SP value scan go up and down etc.


  • Closed Accounts Posts: 2,379 ✭✭✭newacc2015


    Id stick it all in Silver, going very well at the moment!!

    This is very poor advice advice. It is no more than gambling. OP will get zero dividends from it and Silver is quite volatile.

    OP keep it in deposit. Your local CU will probably offer you the best rates. You might need the cash in 2/3 years when you need to cut back on hours, as you need to study more. Your laptop might break and you need cash immediately to buy a replacement etc.

    I wouldnt be in a hurry to do anything with it


  • Registered Users, Registered Users 2 Posts: 753 ✭✭✭badboyblast


    newacc2015 wrote: »
    This is very poor advice advice. It is no more than gambling. OP will get zero dividends from it and Silver is quite volatile.

    OP keep it in deposit. Your local CU will probably offer you the best rates. You might need the cash in 2/3 years when you need to cut back on hours, as you need to study more. Your laptop might break and you need cash immediately to buy a replacement etc.

    I wouldnt be in a hurry to do anything with it


    so investing in something is gambling? putting money on a horse is gambling, doing some constructive research on a mineral/ share/ index based on its history and future is investing, I guess you must lose alot of money gambling!!


  • Registered Users, Registered Users 2 Posts: 2,903 ✭✭✭Blacktie.


    so investing in something is gambling? putting money on a horse is gambling, doing some constructive research on a mineral/ share/ index based on its history and future is investing, I guess you must lose alot of money gambling!!


    So what constructive research have you done?


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  • Closed Accounts Posts: 738 ✭✭✭at9qu5vp0wcix7


    I would keep it within reach, especially with college - i.e. if you are forced to repeat a year due to unexpected circumstances etc. Bonkers.ie will show you different options for notice depsosit accounts, you'll get up to 1% AER. Better than nothing, and your money will be secure and readily accessible.


  • Registered Users, Registered Users 2 Posts: 22,438 ✭✭✭✭endacl


    Prize bonds, and cash them in as you need to, to supplement your income during your studies.


  • Closed Accounts Posts: 2,379 ✭✭✭newacc2015


    so investing in something is gambling? putting money on a horse is gambling, doing some constructive research on a mineral/ share/ index based on its history and future is investing, I guess you must lose alot of money gambling!!

    Ill formed decisions on an investment is a gamble. There are people who have spent decades on silver analyse and still can't get a good estimate on the price of it. How do you think you can beat the market, when someone who spend their entire life can't do it?

    You can't beat the market in the long run, but no one can beat the market year after year. Thinking you can beat the market year after year is irrational. But you can keep trying and like gambling you will beat it the odd time, but year after year you won't. The only way you can beat the market consistently is insider info, which is illegal


  • Registered Users, Registered Users 2 Posts: 499 ✭✭Roonbox


    newacc2015 wrote: »
    so investing in something is gambling? putting money on a horse is gambling, doing some constructive research on a mineral/ share/ index based on its history and future is investing, I guess you must lose alot of money gambling!!

    Ill formed decisions on an investment is a gamble. There are people who have spent decades on silver analyse and still can't get a good estimate on the price of it. How do you think you can beat the market, when someone who spend their entire life can't do it?

    You can't beat the market in the long run, but no one can beat the market year after year. Thinking you can beat the market year after year is irrational. But you can keep trying and like gambling you will beat it the odd time, but year after year you won't. The only way you can beat the market consistently is insider info, which is illegal
    There are thousands, probably millions of traders who successfully trade Silver Futures. There are thousands more who invested in Silver 10 years ago and have seen their investment triple.


  • Closed Accounts Posts: 2,379 ✭✭✭newacc2015


    Roonbox wrote: »
    There are thousands, probably millions of traders who successfully trade Silver Futures. There are thousands more who invested in Silver 10 years ago and have seen their investment triple.

    Who are massive traders of Silver? Gold is traded more and is thrown into the pensions for 'risk diversification'.

    Are you aware Silver was around $15 an oz in May 2006, it is now around $15 in May 2016. Where are these people who tripled their money? Plus they lost out of dividends versus shares. The annual return on the S&P 500 during the same period would have been 10% pa.


  • Registered Users, Registered Users 2 Posts: 241 ✭✭1st dalkey dalkey


    The difference between traders and investors.
    Traders make their money through volatility, getting into and out of their positions at the right time as the market in their particular target of the moment rises or falls. They may buy and sell the same stock or commodity several times a month depending on anything from wars to election results to oil spills in the Gulf or tsunami's in Japan.
    There is an element of gambling to it, but many are very good at it and do very well.
    Our OP is going back to college and wants to invest his few bob. I doubt he has the time, inclination or expertise to be a successful trader.
    There is an element of gambling in investing also, although I would suggest, not quite as much as in trading. But even investing requires time and effort. Safety requires an element of research, diversification and monitoring. So for a college going, part time working, 20 something, I think it unrealistic to expect the kind of time and effort required.
    A couple of term deposit accounts (different term lengths) would be the best bet. Good luck with the course, it is probably the best form of investment.


  • Registered Users, Registered Users 2 Posts: 499 ✭✭Roonbox


    newacc2015 wrote: »
    Roonbox wrote: »
    There are thousands, probably millions of traders who successfully trade Silver Futures. There are thousands more who invested in Silver 10 years ago and have seen their investment triple.

    Who are massive traders of Silver? Gold is traded more and is thrown into the pensions for 'risk diversification'.

    Are you aware Silver was around $15 an oz in May 2006, it is now around $15 in May 2016. Where are these people who tripled their money? Plus they lost out of dividends versus shares. The annual return on the S&P 500 during the same period would have been 10% pa.
    You have made my point for me newacc2015. S&P was at 1500 in 2000 and 666 in 2009, hows that for a 9 year return. The point being it depends on your entry and exit.
    SNP is close to all time highs and I know you know to buy low and sell high :)

    [font=Verdana,Arial,Helvetica,sans-serif]To the Original Poster, With a timeframe of 5 years I would park my money in real assets as opposed to Stocks. If you were going for stocks i would consider etfs like the GDX or even the GDXJ for better bang for your buck.[/font]
    [font=Verdana,Arial,Helvetica,sans-serif]As always these are just my opinion.[/font]


  • Closed Accounts Posts: 738 ✭✭✭at9qu5vp0wcix7


    Roonbox wrote: »
    You have made my point for me newacc2015. S&P was at 1500 in 2000 and 666 in 2009, hows that for a 9 year return. The point being it depends on your entry and exit.
    SNP is close to all time highs and I know you know to buy low and sell high :)

    [font=Verdana,Arial,Helvetica,sans-serif]To the Original Poster, With a timeframe of 5 years I would park my money in real assets as opposed to Stocks. If you were going for stocks i would consider etfs like the GDX or even the GDXJ for better bang for your buck.[/font]
    [font=Verdana,Arial,Helvetica,sans-serif]As always these are just my opinion.[/font]

    Surely the previous 5 year performance of your recommended ETF would be sufficient reason for OP to steer clear of that. This isn't just some spare change, it appears to be his entire savings/assets, and shouldn't be traded, regardless of how safe the option is perceived to be IMO.


  • Registered Users, Registered Users 2 Posts: 499 ✭✭Roonbox


    Roonbox wrote: »
    You have made my point for me newacc2015. S&P was at 1500 in 2000 and 666 in 2009, hows that for a 9 year return. The point being it depends on your entry and exit.
    SNP is close to all time highs and I know you know to buy low and sell high :)

    [font=Verdana,Arial,Helvetica,sans-serif]To the Original Poster, With a timeframe of 5 years I would park my money in real assets as opposed to Stocks. If you were going for stocks i would consider etfs like the GDX or even the GDXJ for better bang for your buck.[/font]
    [font=Verdana,Arial,Helvetica,sans-serif]As always these are just my opinion.[/font]

    Surely the previous 5 year performance of your recommended ETF would be sufficient reason for OP to steer clear of that. This isn't just some spare change, it appears to be his entire savings/assets, and shouldn't be traded, regardless of how safe the option is perceived to be IMO.
    Would you rather I recommend an ETF that has gone up for the past 5 years and has started falling over the past year instead? :)


  • Registered Users, Registered Users 2 Posts: 499 ✭✭Roonbox


    Roonbox wrote: »
    You have made my point for me newacc2015. S&P was at 1500 in 2000 and 666 in 2009, hows that for a 9 year return. The point being it depends on your entry and exit.
    SNP is close to all time highs and I know you know to buy low and sell high :)

    [font=Verdana,Arial,Helvetica,sans-serif]To the Original Poster, With a timeframe of 5 years I would park my money in real assets as opposed to Stocks. If you were going for stocks i would consider etfs like the GDX or even the GDXJ for better bang for your buck.[/font]
    [font=Verdana,Arial,Helvetica,sans-serif]As always these are just my opinion.[/font]

    Surely the previous 5 year performance of your recommended ETF would be sufficient reason for OP to steer clear of that. This isn't just some spare change, it appears to be his entire savings/assets, and shouldn't be traded, regardless of how safe the option is perceived to be IMO.
    Would you rather I recommend an ETF that has gone up for the past 5 years and has started falling over the past year instead? :)


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  • Registered Users, Registered Users 2 Posts: 499 ✭✭Roonbox


    Roonbox wrote: »
    You have made my point for me newacc2015. S&P was at 1500 in 2000 and 666 in 2009, hows that for a 9 year return. The point being it depends on your entry and exit.
    SNP is close to all time highs and I know you know to buy low and sell high :)

    [font=Verdana,Arial,Helvetica,sans-serif]To the Original Poster, With a timeframe of 5 years I would park my money in real assets as opposed to Stocks. If you were going for stocks i would consider etfs like the GDX or even the GDXJ for better bang for your buck.[/font]
    [font=Verdana,Arial,Helvetica,sans-serif]As always these are just my opinion.[/font]

    Surely the previous 5 year performance of your recommended ETF would be sufficient reason for OP to steer clear of that. This isn't just some spare change, it appears to be his entire savings/assets, and shouldn't be traded, regardless of how safe the option is perceived to be IMO.
    Would you rather I recommend an ETF that has gone up for the past 5 years and has started falling over the past year instead? :)


  • Registered Users, Registered Users 2 Posts: 499 ✭✭Roonbox


    Roonbox wrote: »
    You have made my point for me newacc2015. S&P was at 1500 in 2000 and 666 in 2009, hows that for a 9 year return. The point being it depends on your entry and exit.
    SNP is close to all time highs and I know you know to buy low and sell high :)

    [font=Verdana,Arial,Helvetica,sans-serif]To the Original Poster, With a timeframe of 5 years I would park my money in real assets as opposed to Stocks. If you were going for stocks i would consider etfs like the GDX or even the GDXJ for better bang for your buck.[/font]
    [font=Verdana,Arial,Helvetica,sans-serif]As always these are just my opinion.[/font]

    Surely the previous 5 year performance of your recommended ETF would be sufficient reason for OP to steer clear of that. This isn't just some spare change, it appears to be his entire savings/assets, and shouldn't be traded, regardless of how safe the option is perceived to be IMO.
    Would you rather I recommend an ETF that has gone up for the past 5 years and has started falling over the past year instead? :)

    It is a trade, albeit a long term one. Of course the OP can place his cash in the bank.


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


    Roonbox wrote: »
    newacc2015 wrote: »
    Roonbox wrote: »
    There are thousands, probably millions of traders who successfully trade Silver Futures. There are thousands more who invested in Silver 10 years ago and have seen their investment triple.

    Who are massive traders of Silver? Gold is traded more and is thrown into the pensions for 'risk diversification'.

    Are you aware Silver was around $15 an oz in May 2006, it is now around $15 in May 2016. Where are these people who tripled their money? Plus they lost out of dividends versus shares. The annual return on the S&P 500 during the same period would have been 10% pa.
    You have made my point for me newacc2015. S&P was at 1500 in 2000 and 666 in 2009, hows that for a 9 year return. The point being it depends on your entry and exit.
    SNP is close to all time highs and I know you know to buy low and sell high :)

    [font=Verdana,Arial,Helvetica,sans-serif]To the Original Poster, With a timeframe of 5 years I would park my money in real assets as opposed to Stocks. [/font]
    Stocks are real assets though.


  • Registered Users, Registered Users 2 Posts: 499 ✭✭Roonbox


    robp wrote: »
    Roonbox wrote: »
    newacc2015 wrote: »
    Roonbox wrote: »
    There are thousands, probably millions of traders who successfully trade Silver Futures. There are thousands more who invested in Silver 10 years ago and have seen their investment triple.

    Who are massive traders of Silver? Gold is traded more and is thrown into the pensions for 'risk diversification'.

    Are you aware Silver was around $15 an oz in May 2006, it is now around $15 in May 2016. Where are these people who tripled their money? Plus they lost out of dividends versus shares. The annual return on the S&P 500 during the same period would have been 10% pa.
    You have made my point for me newacc2015. S&P was at 1500 in 2000 and 666 in 2009, hows that for a 9 year return. The point being it depends on your entry and exit.
    SNP is close to all time highs and I know you know to buy low and sell high :)

    [font=Verdana,Arial,Helvetica,sans-serif]To the Original Poster, With a timeframe of 5 years I would park my money in real assets as opposed to Stocks. [/font]
    Stocks are real assets though.
    I should say Commodities.


  • Registered Users, Registered Users 2 Posts: 3,379 ✭✭✭hefferboi


    OP here, I won't lie, a lot of that stuff has gone over my head. I'm thinking I'll start a pension fund now. Put 1,000 into it now. Can anyone recommend how I'd go about this as I literally have no clue what I'm doing?


  • Registered Users, Registered Users 2 Posts: 983 ✭✭✭Frogdog


    hefferboi wrote: »
    OP here, I won't lie, a lot of that stuff has gone over my head. I'm thinking I'll start a pension fund now. Put 1,000 into it now. Can anyone recommend how I'd go about this as I literally have no clue what I'm doing?

    Contact an independent, fee-based financial advisor. They'll give you the best advice and suggest the most suitable pension product for you.


  • Registered Users, Registered Users 2 Posts: 2,435 ✭✭✭ixus


    Don't bother with a pension fund now. Just save. You will need it at some point in the near future, house, car, medical, travel, unemployed for an unforseen period.

    Search pension time bomb if you want to know about pensions.


  • Closed Accounts Posts: 2,379 ✭✭✭newacc2015


    Roonbox wrote: »
    You have made my point for me newacc2015. S&P was at 1500 in 2000 and 666 in 2009, hows that for a 9 year return. The point being it depends on your entry and exit.
    SNP is close to all time highs and I know you know to buy low and sell high :)

    [font=Verdana,Arial,Helvetica,sans-serif]To the Original Poster, With a timeframe of 5 years I would park my money in real assets as opposed to Stocks. If you were going for stocks i would consider etfs like the GDX or even the GDXJ for better bang for your buck.[/font]
    [font=Verdana,Arial,Helvetica,sans-serif]As always these are just my opinion.[/font]

    What exactly is your point? Where are the investors who have tripled their money on silver? Or did you just decide to put the a few high and low points on the S&P 500 to prove a weak point than highly volatile silver which was performed horrifically is a good investment?

    Yes it is about knowing when to buy or sell. But it is seriously naive to think you can do well on silver as you read a few websites on it.When you invest in the S&P you dont need to be worrying about buying and selling it to beat a market that you cant beat.

    Are you seriously calling metals with little industrial use a real asset? The return on that the GDX ETF is horrific for the last 10 years.


  • Registered Users, Registered Users 2 Posts: 1,511 ✭✭✭saywhatyousee


    Buy a monster box of silver maple leafs and leave it sealed the box will sell at least a 200 premium if unopened


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  • Registered Users, Registered Users 2 Posts: 499 ✭✭Roonbox


    newacc2015 wrote: »
    Roonbox wrote: »
    You have made my point for me newacc2015. S&P was at 1500 in 2000 and 666 in 2009, hows that for a 9 year return. The point being it depends on your entry and exit.
    SNP is close to all time highs and I know you know to buy low and sell high :)

    [font=Verdana,Arial,Helvetica,sans-serif]To the Original Poster, With a timeframe of 5 years I would park my money in real assets as opposed to Stocks. If you were going for stocks i would consider etfs like the GDX or even the GDXJ for better bang for your buck.[/font]
    [font=Verdana,Arial,Helvetica,sans-serif]As always these are just my opinion.[/font]

    What exactly is your point? Where are the investors who have tripled their money on silver? Or did you just decide to put the a few high and low points on the S&P 500 to prove a weak point than highly volatile silver which was performed horrifically is a good investment?

    Yes it is about knowing when to buy or sell. But it is seriously naive to think you can do well on silver as you read a few websites on it.When you invest in the S&P you dont need to be worrying about buying and selling it to beat a market that you cant beat.

    Are you seriously calling metals with little industrial use a real asset? The return on that the GDX ETF is horrific for the last 10 years.
    Add your reply here.
    newacc2015 wrote: »
    Roonbox wrote: »
    You have made my point for me newacc2015. S&P was at 1500 in 2000 and 666 in 2009, hows that for a 9 year return. The point being it depends on your entry and exit.
    SNP is close to all time highs and I know you know to buy low and sell high :)

    [font=Verdana,Arial,Helvetica,sans-serif]To the Original Poster, With a timeframe of 5 years I would park my money in real assets as opposed to Stocks. If you were going for stocks i would consider etfs like the GDX or even the GDXJ for better bang for your buck.[/font]
    [font=Verdana,Arial,Helvetica,sans-serif]As always these are just my opinion.[/font]

    What exactly is your point? Where are the investors who have tripled their money on silver? Or did you just decide to put the a few high and low points on the S&P 500 to prove a weak point than highly volatile silver which was performed horrifically is a good investment?

    Yes it is about knowing when to buy or sell. But it is seriously naive to think you can do well on silver as you read a few websites on it.When you invest in the S&P you dont need to be worrying about buying and selling it to beat a market that you cant beat.

    Are you seriously calling metals with little industrial use a real asset? The return on that the GDX ETF is horrific for the last 10 years.
    Of course Silver is a real Asset. It s a physical Commodity which doubles as an industrial metal and a physical one. I haven t just read a website about it, I ve been investing in it since 2008 (caught the bottom at $9). I m sure I ve posted about Silver a number of years ago on here.

    My point is simple, if you think buying the S&P now and just siting for 5 years is a guaranteed return, you are mistaken. The S&P is currently expensive relative to earnings. We haven t had an economic slowdown for almost 8 years, there are no guarantees.

    But as anybody with investing experience will tell you, humility in markets is essential as nobody can exactly predict the future, not even you.


    That said - I have a huge number of reason as to why I think Silver and Gold have a good future.

    EDIT - Full Disclosure - I am currently long Gold, Silver and Short Nasdaq.


  • Registered Users, Registered Users 2 Posts: 2,435 ✭✭✭ixus


    Lads, I suggest you take this debate to another topic as it doesn't really help the OP.


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