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100 K to invest

  • 09-02-2021 3:05pm
    #1
    Registered Users Posts: 1,810 ✭✭✭ 6541


    Hi All,

    I apologize if this is asked again and again but I need help. My head is wrecked.
    I am reading posts saying inflation / deflation is eating into my savings.

    I have around 100 K that I want to put somewhere that it can beat inflation and be safe. I have no appetite for risk. I have my own house, no mortgage.

    Can anyone recommend somewhere to put this cash ? Zurich, Prize bonds.
    Appreciate any advice.

    Thanks,
    6541


Comments

  • Registered Users Posts: 57 ✭✭ Cameron326


    You could consider Zurich or Irish Life. They each have a range of funds, about half a dozen basic ones, which run from very low risk to high risk. They have reonasby hign fees and of course you’ll need to pay tax - 41% on any gains. But they do all the work and whichever fund you choose you’re almost certain to make considerably more money than letting it rot in a bank account.


  • Registered Users Posts: 807 ✭✭✭ Jimbobjoeyman


    Contact a competent financial adviser that takes a flat fee and isn't on any kind of comission.

    There's a reason you don't ask boards.ie for medical advice; the same goes for finance.


  • Registered Users Posts: 765 ✭✭✭ cuculainn


    Contact a competent financial adviser that takes a flat fee and isn't on any kind of comission.

    There's a reason you don't ask boards.ie for medical advice; the same goes for finance.

    i assume a financial advisor in Davey or Zurich are all on commission?
    are flat fee financial advisors independent or do you have any recommendations'?


  • Registered Users Posts: 468 ✭✭ PHG


    Not a fan of Davy or Zurich as have found them directly to be full of it.

    You need to make sure that you choose a financial advisor that can explain to you what you are investing in instead of going in blindly. If one is throwing around fancy terms and is just confusing, then run. There are plenty good and plenty cowboys!!

    Some of it will depend on how you invest it on a yearly basis. Do you have a pension and can take the tax advantage with a PRSA? This wont max out anywhere near your 100k but probably a good start.

    As Jim said above, we are all keyboard warriors here. Finding an independent Financial Advisor is best.

    Unfortunately, if you want to beat inflation you need to take on risk, which will depend on your age also.

    Off the top of my head, investing in an index over 5 years gives you a 90% probability of making a profit after fees, 3 years 60%, 1 year 40%.

    So if you are investing (not gambling) and holding for a while then you should be fine to beat inflation.

    Whatever you do, please stay away from people who have great ideas, once in a lifetime opportunities etc., its all BS, though from your OP it looks like you will.


  • Registered Users Posts: 1,490 ✭✭✭ thomasm


    Talk to a Certified Financial Planner, find one here


    https://www.sfpi.ie/locate-a-financial-planner/#!directory/map/ord=rnd


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  • Registered Users Posts: 3,030 ✭✭✭ Browney7


    6541 wrote: »
    Hi All,

    I apologize if this is asked again and again but I need help. My head is wrecked.
    I am reading posts saying inflation / deflation is eating into my savings.

    I have around 100 K that I want to put somewhere that it can beat inflation and be safe. I have no appetite for risk. I have my own house, no mortgage.

    Can anyone recommend somewhere to put this cash ? Zurich, Prize bonds.
    Appreciate any advice.

    Thanks,
    6541

    What does "I have no appetite for risk" mean to you OP?

    If you put it 100% in prize bonds or a solidarity bond, there's a very low risk the Irish government default but a very high (in my opinion) risk that in ten years, 100k won't go as far as it does today. The 100k will grow to 110k if you put it in the solidarity bond.

    On the other hand, if you put it into a diversified portfolio of equities or index tracker, there's a much higher risk your investment may be worth less than your initial 100k at some point during the investment term but a lower risk that it won't keep pace with inflation.

    If you can't stomach the possibility of capital loss than your return will be very low


  • Registered Users Posts: 43,739 ✭✭✭✭ 6


    Have you a mortgage OP?

    Are your pension contributions maxed out?


  • Registered Users Posts: 397 ✭✭ Ish66


    I have some magic beans..............:rolleyes:


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