Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

[Advice please] Investment account for my son

  • 07-10-2019 2:21pm
    #1
    Xios
    Registered Users, Registered Users 2 Posts: 2,073 ✭✭✭


    My son is 3 months old, I'm looking to start putting away 10 to 20 euro a week for his future. What are some good vehicles for this kind of long term investment?

    I'm thinking of doing a standard investment fund portfolio, with the 60/40 equities/bonds, but who is the best supplier to go with? Also, is there any government incentives that I can benefit from, like pension contributions?


Comments

  • #2
    One More Toy
    Registered Users, Registered Users 2 Posts: 3,880 ✭✭✭One More Toy


    Xios wrote: »
    My son is 3 months old, I'm looking to start putting away 10 to 20 euro a week for his future. What are some good vehicles for this kind of long term investment?

    I'm thinking of doing a standard investment fund portfolio, with the 60/40 equities/bonds, but who is the best supplier to go with? Also, is there any government incentives that I can benefit from, like pension contributions?

    No incentive. Annoying tax laws regarding etfs (deemed disposal every 8 years). DEGIRO cheapest broker

    Tbh buying prize bonds in his or her name would be my go to approach. Or leave it in a regular saver account.


  • #3
    One More Toy
    Registered Users, Registered Users 2 Posts: 3,880 ✭✭✭One More Toy


    10-20 euro a month is no good for investing in the market as you'll get swallowed up by comissions

    I strongly recommend prize bonds or a regular saver account.

    You'd need to be investing a couple of hundred in the markets each month to make it worthwhile, others may disagree


  • #4
    Xios
    Registered Users, Registered Users 2 Posts: 2,073 ✭✭✭Xios


    One More Toy wrote: »
    10-20 euro a month is no good for investing in the market as you'll get swallowed up by comissions

    I strongly recommend prize bonds or a regular saver account.

    You'd need to be investing a couple of hundred in the markets each month to make it worthwhile, others may disagree

    It'll be 40-80 a month. So maybe I'll use Degiro and buy every second month.


  • #5
    One More Toy
    Registered Users, Registered Users 2 Posts: 3,880 ✭✭✭One More Toy


    Xios wrote: »
    It'll be 40-80 a month. So maybe I'll use Degiro and buy every second month.

    Even at every second month say 160euro still wouldn't be worth it in my opinion - it'd be too hard to get your 60/40 allocation right.


  • #6
    Lex Luthor
    Registered Users, Registered Users 2 Posts: 11,220 ✭✭✭✭Lex Luthor


    on a side note, if you were to invest in crypto currency (ie. Bitcoin) and use kraken, then the fees there are % based on the amount invested, afaik its 0.26% so even with a small amount you'll only pay a tiny fraction of a commission


  • Advertisement
  • #7
    One More Toy
    Registered Users, Registered Users 2 Posts: 3,880 ✭✭✭One More Toy


    Lex Luthor wrote: »
    on a side note, if you were to invest in crypto currency (ie. Bitcoin) and use kraken, then the fees there are % based on the amount invested, afaik its 0.26% so even with a small amount you'll only pay a tiny fraction of a commission

    Very risky advice to a novice investor


  • #8
    daheff
    Registered Users, Registered Users 2 Posts: 5,933 ✭✭✭daheff


    Lex Luthor wrote: »
    on a side note, if you were to invest in crypto currency (ie. Bitcoin) and use kraken, then the fees there are % based on the amount invested, afaik its 0.26% so even with a small amount you'll only pay a tiny fraction of a commission

    dont do this

    imo crypto is a gamble.... only look at it if you cam afford to lose everything.


  • #9
    One More Toy
    Registered Users, Registered Users 2 Posts: 3,880 ✭✭✭One More Toy


    daheff wrote: »
    dont do this

    imo crypto is a gamble.... only look at it if you cam afford to lose everything.

    Seconded


  • #10
    Xios
    Registered Users, Registered Users 2 Posts: 2,073 ✭✭✭Xios


    Lex Luthor wrote: »
    on a side note, if you were to invest in crypto currency (ie. Bitcoin) and use kraken, then the fees there are % based on the amount invested, afaik its 0.26% so even with a small amount you'll only pay a tiny fraction of a commission

    Won't be going the crypto route, been there, don't that.
    I'll look into prize bonds Vs other traditional savings systems, like Irish Life funds, or I might use either my Degiro account or my Revolut account to buy equities, maybe split between prize bonds and stocks/shares.

    Although revolut is very limited, as in it is only shares, not ETFs or other financial products. But hey, no transaction fees.


  • #11
    One More Toy
    Registered Users, Registered Users 2 Posts: 3,880 ✭✭✭One More Toy


    Xios wrote: »
    Won't be going the crypto route, been there, don't that.
    I'll look into prize bonds Vs other traditional savings systems, like Irish Life funds, or I might use either my Degiro account or my Revolut account to buy equities, maybe split between prize bonds and stocks/shares.

    Although revolut is very limited, as in it is only shares, not ETFs or other financial products. But hey, no transaction fees.

    At the low amounts my advice would be a regular saver account


  • Advertisement
  • #12
    AlmightyCushion
    Moderators, Education Moderators, Technology & Internet Moderators Posts: 35,125 Mod ✭✭✭✭AlmightyCushion


    DeGiro have a list of commission free ETFs. https://www.degiro.ie/data/pdf/ie/commission-free-etfs-list.pdf

    Some of them are cheap and fit in to your monthly budget or not far off. E.g. IE00B3XXRP09 is an S&P500 ETF and costs only about €50 a pop.


  • #13
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,605 Mod ✭✭✭✭Jim2007


    Lex Luthor wrote: »
    on a side note, if you were to invest in crypto currency (ie. Bitcoin) and use kraken, then the fees there are % based on the amount invested, afaik its 0.26% so even with a small amount you'll only pay a tiny fraction of a commission

    You don't invest in currencies, you speculate - there is no intrinsic value in a currency.


  • #14
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,605 Mod ✭✭✭✭Jim2007


    AlmightyCushion wrote: »
    DeGiro have a list of commission free ETFs. https://www.degiro.ie/data/pdf/ie/commission-free-etfs-list.pdf

    Some of them are cheap and fit in to your monthly budget or not far off. E.g. IE00B3XXRP09 is an S&P500 ETF and costs only about €50 a pop.

    So about 10% of his investment each year.....


Advertisement