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How and with who do I do the following

  • 10-10-2016 11:49am
    #1
    Lucashood2016
    Banned (with Prison Access) Posts: 51 ✭✭


    I want to set up a s&p 500 index fund account and world global index account and have 20% of my salary be split into each account monthly , how do I do it and with whom should I do it


Comments

  • #2
    topper_harley2
    Registered Users, Registered Users 2 Posts: 537 ✭✭✭topper_harley2


    Via a pension? Properly cheap index funds (like Vanguard) don't exist outside pension wrapper. Outside pension wrapper, ETFs via broker like Degiro or else unit linked funds via Rabo/Irish Life are your options.


  • #3
    Lucashood2016
    Banned (with Prison Access) Posts: 51 ✭✭Lucashood2016


    topper_harley2 wrote: »
    Via a pension? Properly cheap index funds (like Vanguard) don't exist outside pension wrapper. Outside pension wrapper, ETFs via broker like Degiro or else unit linked funds via Rabo/Irish Life are your options.

    I can afford to put away 1500 a month in a combination of savings or investments , what would you advise


  • #4
    topper_harley2
    Registered Users, Registered Users 2 Posts: 537 ✭✭✭topper_harley2


    You dont give enough (i.e. any) information about why you want to save or build an investment portfolio, what you are trying to achieve, what are your other financial priorities/circumstances etc.

    If I were an advisor I'd be asking:
    What age are you
    What existing savings have you
    Have you any high interest debts like car loan/credit card etc
    Have you an SVR mortgage
    Have you a rainy day fund of 3-6 months salary
    Have you a pension
    Have you kids
    Are you married
    Have you any investment property
    What exactly constitutes success for any investment portfolio
    How long are you happy to be without this money
    What would you do if value dropped 30% overnight
    What is your tax rate
    Are you taxed in Ireland

    Currently, best monthly saving returns is 3.5% KBC.

    Most people when asked why they want to invest generally say "I want to get better return than in normal bank account"......that is not a goal, thats a vague pipe dream that you cannot quantify.

    There are lots of similar threads on this forum, I'd suggest having a good read of them as well before deciding what to do.


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