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Looking for some Beginner Investor Advice

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  • 26-11-2023 2:55pm
    #1
    FrankN1
    Registered Users Posts: 914 ✭✭✭


    Hi there,

    I am looking to start investing a monthly sum of maybe 100-200 euro instead of one lump sum (I think drip feeding it is better but open to correction).

    I'd like to invest in something relatively safe to start with like the S and P 500. I'm in it for the long term. I have set up my De Giro account but it's a little confusing to buy an ETF there, sometimes there are multiple.

    Any advice welcome and much appreciated



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    #2
    FrankN1
    Registered Users Posts: 914 ✭✭✭FrankN1


    https://www.boards.ie/discussion/2058324524/looking-for-some-beginner-investor-advice

    Anyone? 😕



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    #3
    Nody
    Moderators, Category Moderators, Arts Moderators, Business & Finance Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 18,261 CMod ✭✭✭✭Nody


    Well not using Degiro myself atm but going from their own website the Vanguard S&P 500 (IE00B3XXRP09) is in their top 4 popular funds. Vanguard is never a bad bet from an choice of ETF provider. The reason you see multiple is because there are multiple providers offering more or less the same product (esp. ETFs of major indexes) and often in various configurations (automatic reinvestment, not automatic reinvestment, different currencies etc.)



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    #4
    FlipFlopAgain
    Registered Users Posts: 11 ✭FlipFlopAgain


    Make sure that you read up on the taxation of ETFs in Ireland. You have to declare your purchase to Revenue every year on Form 11. When you sell, profits taxed at 41%. If you don't sell within 8 years, then you are "deemed" to have sold and have to pay 41% tax on the profit you would have made if you had sold. Again, you have to use Form 11 to make the tax return. It's a lot of admin for investing a small amount.

    Even though funds offered by the large insurance companies may have higher charges, you don't have to worry about any of the above tax issues. I know Zurich has some funds. And I'm sure the other companies do as well. You might be better off with these.

    If you do decide to go with ETFs, check out justetf.com. You can view data on each ETF. Main things to look for are a low charge, and a large fund. Also considered better if the ETF holds the shares rather than some synthetic structure. And it's generally better to select an "accumulating" ETF, as any dividends are ploughed back into the fund.



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