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Investment for Wedding Budget Short Term

  • 27-01-2022 10:00am
    #1
    Registered Users Posts: 3,680 ✭✭✭


    As the title suggest looking at options

    Currently have investment policies with Irish Life and doing ok but now want to invest for the big day but not put all my bags into one basket so want to save some money and also invest for short term 1-2 years

    Any suggestions I should look at so I can do some research myself



Comments

  • Registered Users Posts: 26,026 ✭✭✭✭Peregrinus


    There are no investments that offer the prospect of high returns in the short term that are not also attended with the high risk. So before we can say anything useful we need to know your attitude to risk. Would it bother you if your investment declined in 1-2 years by 10%? 20%? 50%? Or are you looking for an investment with near-zero risk of declining in value over that timeframe?



  • Registered Users Posts: 3,680 ✭✭✭Irish Gunner



    good point

    I have split other investments ranging from mid to high risk but they are more long term this one is more short term. I know the gain from savings is not great so going to look at small investments to at least get some gains with low risk so even if I make something its better than nothing although I know I can lose as well



  • Registered Users Posts: 3,087 ✭✭✭Static M.e.


    Sorry, I don't know of anything for short term. I would hold it in a bank account\credit union. The other thing to think about is if you are getting married in 24 months from today, you are likely going to be paying out some of the money in deposits, wedding dresses, suits, honeymoon etc well before the day. I think we started 6 months out from the day and effectively everything was paid before we got married or on the day (Banks, DJs, Church fees etc.). Just something to think about, I would put it somewhere that I can access it quickly and easily and then just keep saving. Congrats btw.



  • Registered Users Posts: 4,359 ✭✭✭jon1981


    Buy a prize bond. Unless you're gonna DCA in the money over a 1 year period, I wouldn't even risk it. This is not money you can afford to lose.



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