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Any investment/money advice.

  • 02-06-2020 7:45pm
    #1
    antimatterx
    Registered Users, Registered Users 2 Posts: 3,170 ✭✭✭


    Hi

    I'm looking for some money advice. I'm 24, I work as a software engineer. I make 32K a year (I'm leaving after COVID, once the economy turns back on, and will be on 45-50K).

    I luckily live at home and I have 20K saved. My goal is to buy an apartment over the next few years. I know I should probably start a pension, but I don't know who to open one with or how much to contribute. My employer doesn't contribute.

    Any advice?


Comments

  • #2
    Shedite27
    Registered Users, Registered Users 2 Posts: 9,469 ✭✭✭Shedite27


    antimatterx wrote: »
    Hi

    I'm looking for some money advice. I'm 24, I work as a software engineer. I make 32K a year (I'm leaving after COVID, once the economy turns back on, and will be on 45-50K).

    I luckily live at home and I have 20K saved. My goal is to buy an apartment over the next few years. I know I should probably start a pension, but I don't know who to open one with or how much to contribute. My employer doesn't contribute.

    Any advice?
    Definitely get a pension sorted. Even if you can get €100-200 a month into that it will blossom fantastically over time. It's tax free too so your €100 will actually get you more for your retirement. Earlier you start the more it will accumulate to.

    Not many Pension providers sell direct to customers, have a chat with a broker and they'll give you some advice (they won't cost you anything, they are paid by the Pension companies. Lots of them are dying for a bit of business these days and would be happy to chat to ya for 15/20 mns and outline your options.

    If you're looking to buy in the next few years don't do anything risky with your 20k. State Savings is probably your best bet. They do 3, 4, 5 year options.


  • #3
    sheepsh4gger
    Registered Users, Registered Users 2 Posts: 622 ✭✭✭sheepsh4gger


    antimatterx wrote: »
    Hi

    I'm looking for some money advice. I'm 24, I work as a software engineer. I make 32K a year (I'm leaving after COVID, once the economy turns back on, and will be on 45-50K).

    I luckily live at home and I have 20K saved. My goal is to buy an apartment over the next few years. I know I should probably start a pension, but I don't know who to open one with or how much to contribute. My employer doesn't contribute.

    Any advice?


    I also a software engineer but more of a boomer. Made a lot in 2017 on crypto then cashed out.


    I slush tings around between gold and crypto. Anything other than dirty fiat.


    I heat my apartment with video cards also.



    (don't take what I say for truth, think for yourself)


    In general I look for young markets that have no established boomer leeches skimming it 7 ways to Sunday. I made my money on exploiting a flaw when exchanges weren't synced well.


  • #4
    Figel Narage
    Registered Users, Registered Users 2 Posts: 478 ✭✭Figel Narage


    antimatterx wrote: »
    Hi

    I'm looking for some money advice. I'm 24, I work as a software engineer. I make 32K a year (I'm leaving after COVID, once the economy turns back on, and will be on 45-50K).

    I luckily live at home and I have 20K saved. My goal is to buy an apartment over the next few years. I know I should probably start a pension, but I don't know who to open one with or how much to contribute. My employer doesn't contribute.

    Any advice?

    I'd be in a similar boat, fair chunk in savings, good salary, 27, however,no pension. Also considering buying an apartment but weighing up the pro's and con's of that and all the potential problems that can come with it. Also would love to throw my savings into something that produces some passive income or if not that, grow the funds a bit more then a savings account


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