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What I'm going to do with 250 euro per month as a means of investing

  • 18-03-2019 12:43am
    #1
    Registered Users Posts: 19 ✭✭✭ Ron86r


    I'm going to invest 250 per month into Irish Life MAPS 4. I'll do this with a 10 to 15 year outlook. Is there anybody else thinking about doing anything similar.


Comments

  • Closed Accounts Posts: 3,550 evolving tipperary


    Ron86r wrote: »
    I'm going to invest 250 per month into Irish Life MAPS 4. I'll do this with a 10 to 15 year outlook. Is there anybody else thinking about doing anything similar.

    Donate it to someone on the dole.


  • Registered Users Posts: 11,142 ✭✭✭✭ Geuze


    Ron86r wrote: »
    I'm going to invest 250 per month into Irish Life MAPS 4. I'll do this with a 10 to 15 year outlook. Is there anybody else thinking about doing anything similar.

    Aren't the fees very high on these MAPS policies?

    I see 1.65% AMC here:

    https://www.irishlife.ie/sites/retail/files/clear-invest-booklet.pdf?ts=1536923915593


  • Registered Users Posts: 3,960 ✭✭✭ Diarmuid


    Yeah. Very high charges. I can never figure out if or what these funds are indexed against so very hard to judge the performance. Unfortunately if you are tied into a work pension scheme, a lot of the time you are tied to funds like these.


  • Registered Users Posts: 69 ✭✭ dublin2000


    I'm looking at those Irish life/Zurich funds myself, I've read other threads in the past stating the same point, the charges are high. But I also struggle to know/find out what are the actual alternatives for those types of investment fund that - you are looking at long term, you are not looking at shares as it is a portion of your saving that I don't want too much of risk, you want something that is better return than putting the money in the bank.


  • Registered Users Posts: 11,142 ✭✭✭✭ Geuze


    dublin2000 wrote: »
    I'm looking at those Irish life/Zurich funds myself, I've read other threads in the past stating the same point, the charges are high. But I also struggle to know/find out what are the actual alternatives for those types of investment fund that - you are looking at long term, you are not looking at shares as it is a portion of your saving that I don't want too much of risk, you want something that is better return than putting the money in the bank.

    ETF?


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  • Registered Users Posts: 468 ✭✭ PHG


    Hi OP,

    Unfortunately its tough enough. Are you doing a pension where you can get tax relief on it e.g. PRSA? Can you add it to your work pension?

    Well done on starting to invest in your future! Why the 10 to 15 year outlook?

    Thank,

    PHG


  • Moderators, Business & Finance Moderators Posts: 17,024 Mod ✭✭✭✭ Henry Ford III


    The choice of contract is critical on savings plans.


  • Registered Users Posts: 459 ✭✭ Dytalus


    Geuze wrote: »
    ETF?

    The tax regime on ETFs can make it difficult for monthly savings. Life-wrapped investment plans remove the paperwork and brainache, but even on passive funds the management charge still eats away at your potential gains. If it's a pension plan though, I suppose that becomes a null point.

    OP, if you're looking for something easy with minimal charges look around for a passive investment fund. I know Zurich offer a monthly savings scheme which you can have tied to Blackrock's Global Equity index, and I'm pretty sure Aviva offer the same (although it's not Blackrock, it tracks the same index). Both are passive funds, so there's a lower AMC than the Irish Life MAPS.


  • Site Banned Posts: 10 ✭✭✭ dSchwainass


    Dytalus wrote: »
    The tax regime on ETFs can make it difficult for monthly savings. Life-wrapped investment plans remove the paperwork and brainache, but even on passive funds the management charge still eats away at your potential gains. If it's a pension plan though, I suppose that becomes a null point.

    OP, if you're looking for something easy with minimal charges look around for a passive investment fund. I know Zurich offer a monthly savings scheme which you can have tied to Blackrock's Global Equity index, and I'm pretty sure Aviva offer the same (although it's not Blackrock, it tracks the same index). Both are passive funds, so there's a lower AMC than the Irish Life MAPS.

    What kind of AMC do they have?


  • Registered Users Posts: 19 ✭✭✭ Ron86r


    PHG wrote: »
    Hi OP,

    Unfortunately its tough enough. Are you doing a pension where you can get tax relief on it e.g. PRSA? Can you add it to your work pension?

    Well done on starting to invest in your future! Why the 10 to 15 year outlook?

    Thank,

    PHG


    10 to 15 year outlook as I'm 34 now and would like to be well positioned to put more time into voluntary work, alongside a decent lifestyle, by the time I'm 50.


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  • Registered Users Posts: 19 ✭✭✭ Ron86r


    Geuze wrote: »
    Aren't the fees very high on these MAPS policies?

    I see 1.65% AMC here:

    What is the alternative? Financial advisers seem to charge a rolling few also.


  • Registered Users Posts: 20,989 ✭✭✭✭ AndrewJRenko


    Ron86r wrote: »
    Geuze wrote: »
    Aren't the fees very high on these MAPS policies?

    I see 1.65% AMC here:

    What is the alternative? Financial advisers seem to charge a rolling few also.
    Do your own research and choose a low-fee fund;


    https://www.labrokers.ie/prsa-pensions/


  • Registered Users Posts: 1,298 ✭✭✭ RedRochey


    I'm guessing the fees are high on MAPs because it's a multi-asset fund with a lot going on underneath, they have an allocation to alternative managers and they usually charge high fees.

    1.65% sounds wrong to me though, where I work we get MAPs for .70% I believe


  • Registered Users Posts: 21 ✭✭✭ Policy Review


    MAPS have alternating amc depending on the product, i believe the amc is cheaper if its with a pension plan. I tried looking at these to compare but Irish Life recently launched a new website and it seems to be currently down at the minute, this also applies to their other associated sites.


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