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Fund recommendations for long-term returns

  • 21-01-2021 9:00am
    #1
    Registered Users Posts: 17 Isgregalive


    Just looking for a bit of advise.

    I'm considering investing a bit of money for my nephew that would be a longterm investment for 20 years or so. I'm based in the US so we have lots of low cost funds to choose from but I'm looking for something along the lines of a Vanguard with a highly diversified base that I could add to myself as opposed to having to go through a broker for every transaction.

    It would likely be a small lump sum to start and maybe topped up over the years but with the ultimate goal of a bit better growth than savings accounts at An Post.

    Does anyone have any recommendations or is there a better use for the money?

    Thanks...


Comments

  • Registered Users Posts: 1,788 ✭✭✭ Cute Hoor


    Being based in the US it should be pretty easy. I'd suggest opening a joint account (yourself and your nephew) with one of the free trade brokers (Firstrade and TDAmeritrade are 2 but I'm sure there are lots more), lodge your dollars and buy away. Vanguard have a raft of funds, VOO, VIOO, VO, VYM, VGT, VCIT, VCSH etc etc etc etc that you can invest in, lots of information available on all of them, it would be very disappointing if most of those didn't comfortably beat An Post over 20 years.


  • Registered Users Posts: 17 Isgregalive


    Sorry, the idea would be to open an account in Ireland. Beneficiary rules have changed in the US and they're making it virtually impossible to open an account without a social security number.

    I do have accounts with Vanguard in the US but just looking for similar in Ireland with a broad range of funds

    I plan to have my sister open the account there and fund it myself and they can just keep it until he's 21...


  • Moderators, Business & Finance Moderators Posts: 7,818 Mod ✭✭✭✭ Jim2007


    Sorry, the idea would be to open an account in Ireland. Beneficiary rules have changed in the US and they're making it virtually impossible to open an account without a social security number.

    The entire world has changed in this respect. Whether in Ireland or else where, verification of the account holder, the ultimate beneficiary and the funding source is required. And this is not just at setup, it can happen randomly over the live of the account.

    You are just going to move the hassle, plus any possible tax implications to your sister.


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