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Some money to invest

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  • 14-02-2017 7:24pm
    #1
    beggars_bush
    Registered Users Posts: 4,435 ✭✭✭


    Hello,

    I have recently come into some money and I'm looking to invest it in a personal investment product, around 20K

    I've looked up Irish Life, Zurich, Acorn and a few others and met with an advisor it two banks. I'm looking to put it away for 5 years +

    Can anyone give me a small bit of advice as its my first time looking to do such a product. I know management fees and charges are important as they will eat into the fund, especially as it grows. Also the allocation rate.

    Any help appreciated. thanks


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    #2
    Newentrant12
    Registered Users Posts: 17 ✭Newentrant12


    If you want to invest into a pension or PRSA scheme you should probably get with whoever can provide this at the lowest cost. If you're looking for a personal investment, a low cost index fund isn't a bad idea. If you have 20K and you want to know a bit about investing I would suggest reading A Random Walk Down Wall Street by Burton Malkiel. It gives a nice introduction to personal finance/investing.


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    #3
    beggars_bush
    Registered Users Posts: 4,435 ✭✭✭beggars_bush


    Not looking for a PRSA scheme

    more a lump sum investment scheme.
    cheers


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    #4
    _Brian
    Registered Users Posts: 18,537 ✭✭✭✭_Brian


    Maybe I'm wrong but at the moment anything with decent principal security is paying back very very little interest.


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    #5
    ArnieSilvia
    Registered Users Posts: 285 ✭✭ArnieSilvia


    How about using this (already taxed) cash to live and put equivalent of it over 1-2 years into pension, this way you'd "save" on marginal 40% tax rate and on PRSI/USC etc.

    In other words, to save 20k you'd need to earn double that on top rate of tax (that is, if you are on this level of income). Pension would be more tax efficient.

    Food for thought etc.


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    #6
    beggars_bush
    Registered Users Posts: 4,435 ✭✭✭beggars_bush


    I have an AVC product already


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    #7
    Newentrant12
    Registered Users Posts: 17 ✭Newentrant12


    beggars_bush wrote: »
    I have an AVC product already

    A low cost index fund that tracks the us markets has the best return over the long run if you're interested in equity exposure. Look into vanguard etfs. These products are only appropriate if you have a long term horizon.


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