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Investing a lump sum

  • 28-05-2019 3:24pm
    Registered Users Posts: 48

    My wife recently inherited a large sum of money. For us, it's a fortune and life changer... €130k. It will be all spent on our daughters education, from primary through to university. She will be going to a fee paying school, although now she's just in preschool.
    I was thinking of lumping all of it into the state ten year saving scheme. 16% return, no fees, no dirt and capital guaranteed... I no nothing of investing as I never in my life would this amount of money have been available to us. It has been sitting in our current account doing nothing for three weeks now. Any advice/suggestions appreciated


  • Registered Users Posts: 1,218 ✭✭✭Islander13

    Pay some off your mortgage if you have one rather than leaving all in cash

  • Registered Users Posts: 510 ✭✭✭Donegal1234

    Invest some money in bitcoin and hold for 5 years or so. It’s already up +100% this year alone and halving event on next year.

  • Registered Users Posts: 6,675 ✭✭✭Alkers

    You need to give us some indication of your current financial situation in order to get the best advice.
    Are you working? Partner? Mortgage? Pension? Loans? Dependants?

    Fee paying schools are well and good but not necessarily always the best choice before you spend all the money.

  • Registered Users Posts: 1,667 ✭✭✭Klonker

    Go see a financial advisor would be my first bit of advice.

    Second bit of advice and I know you didn't ask for it is forget about the private school, waste of money.

  • Registered Users Posts: 10,894 ✭✭✭✭phantom_lord

    Don't listen to anyone that says to buy gold silver crypto or Tesla shares.

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  • Registered Users Posts: 1,292 ✭✭✭daithi7

    Low risk investment anyway, a rental property maybe

  • Moderators, Society & Culture Moderators Posts: 12,518 Mod ✭✭✭✭Amirani

    State 10 year savings is a solid option. If you have a large mortgage though it could be worth clearing some of this and saving the reduced payments.

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

    Go get a qualified financial advisor, don't risk such a large and important lump sum of money on the opinions of some random people on the internet

  • Moderators, Business & Finance Moderators Posts: 9,431 Mod ✭✭✭✭Jim2007

    kingkev100 wrote: »
    I was thinking of lumping all of it into the state ten year saving scheme. 16% return, no fees, no dirt and capital guaranteed...

    Yep go for it. It is a good return for a low risk investment, unlike the BS options in property, highly speculative shares and current speculation that gets offered up here.