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[Advice please] Investment account for my son

  • 07-10-2019 3:21pm
    #1
    Xios
    Registered Users Posts: 2,072 ✭✭✭


    My son is 3 months old, I'm looking to start putting away 10 to 20 euro a week for his future. What are some good vehicles for this kind of long term investment?

    I'm thinking of doing a standard investment fund portfolio, with the 60/40 equities/bonds, but who is the best supplier to go with? Also, is there any government incentives that I can benefit from, like pension contributions?


Comments

  • #2
    One More Toy
    Registered Users Posts: 3,761 ✭✭✭One More Toy


    Xios wrote: »
    My son is 3 months old, I'm looking to start putting away 10 to 20 euro a week for his future. What are some good vehicles for this kind of long term investment?

    I'm thinking of doing a standard investment fund portfolio, with the 60/40 equities/bonds, but who is the best supplier to go with? Also, is there any government incentives that I can benefit from, like pension contributions?

    No incentive. Annoying tax laws regarding etfs (deemed disposal every 8 years). DEGIRO cheapest broker

    Tbh buying prize bonds in his or her name would be my go to approach. Or leave it in a regular saver account.


  • #3
    One More Toy
    Registered Users Posts: 3,761 ✭✭✭One More Toy


    10-20 euro a month is no good for investing in the market as you'll get swallowed up by comissions

    I strongly recommend prize bonds or a regular saver account.

    You'd need to be investing a couple of hundred in the markets each month to make it worthwhile, others may disagree


  • #4
    Xios
    Registered Users Posts: 2,072 ✭✭✭Xios


    One More Toy wrote: »
    10-20 euro a month is no good for investing in the market as you'll get swallowed up by comissions

    I strongly recommend prize bonds or a regular saver account.

    You'd need to be investing a couple of hundred in the markets each month to make it worthwhile, others may disagree

    It'll be 40-80 a month. So maybe I'll use Degiro and buy every second month.


  • #5
    One More Toy
    Registered Users Posts: 3,761 ✭✭✭One More Toy


    Xios wrote: »
    It'll be 40-80 a month. So maybe I'll use Degiro and buy every second month.

    Even at every second month say 160euro still wouldn't be worth it in my opinion - it'd be too hard to get your 60/40 allocation right.


  • #6
    Lex Luthor
    Registered Users Posts: 11,220 ✭✭✭✭Lex Luthor


    on a side note, if you were to invest in crypto currency (ie. Bitcoin) and use kraken, then the fees there are % based on the amount invested, afaik its 0.26% so even with a small amount you'll only pay a tiny fraction of a commission


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  • #7
    One More Toy
    Registered Users Posts: 3,761 ✭✭✭One More Toy


    Lex Luthor wrote: »
    on a side note, if you were to invest in crypto currency (ie. Bitcoin) and use kraken, then the fees there are % based on the amount invested, afaik its 0.26% so even with a small amount you'll only pay a tiny fraction of a commission

    Very risky advice to a novice investor


  • #8
    daheff
    Registered Users Posts: 5,833 ✭✭✭daheff


    Lex Luthor wrote: »
    on a side note, if you were to invest in crypto currency (ie. Bitcoin) and use kraken, then the fees there are % based on the amount invested, afaik its 0.26% so even with a small amount you'll only pay a tiny fraction of a commission

    dont do this

    imo crypto is a gamble.... only look at it if you cam afford to lose everything.


  • #9
    One More Toy
    Registered Users Posts: 3,761 ✭✭✭One More Toy


    daheff wrote: »
    dont do this

    imo crypto is a gamble.... only look at it if you cam afford to lose everything.

    Seconded


  • #10
    Xios
    Registered Users Posts: 2,072 ✭✭✭Xios


    Lex Luthor wrote: »
    on a side note, if you were to invest in crypto currency (ie. Bitcoin) and use kraken, then the fees there are % based on the amount invested, afaik its 0.26% so even with a small amount you'll only pay a tiny fraction of a commission

    Won't be going the crypto route, been there, don't that.
    I'll look into prize bonds Vs other traditional savings systems, like Irish Life funds, or I might use either my Degiro account or my Revolut account to buy equities, maybe split between prize bonds and stocks/shares.

    Although revolut is very limited, as in it is only shares, not ETFs or other financial products. But hey, no transaction fees.


  • #11
    One More Toy
    Registered Users Posts: 3,761 ✭✭✭One More Toy


    Xios wrote: »
    Won't be going the crypto route, been there, don't that.
    I'll look into prize bonds Vs other traditional savings systems, like Irish Life funds, or I might use either my Degiro account or my Revolut account to buy equities, maybe split between prize bonds and stocks/shares.

    Although revolut is very limited, as in it is only shares, not ETFs or other financial products. But hey, no transaction fees.

    At the low amounts my advice would be a regular saver account


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  • #12
    AlmightyCushion
    Moderators, Education Moderators, Technology & Internet Moderators Posts: 35,041 Mod ✭✭✭✭AlmightyCushion


    DeGiro have a list of commission free ETFs. https://www.degiro.ie/data/pdf/ie/commission-free-etfs-list.pdf

    Some of them are cheap and fit in to your monthly budget or not far off. E.g. IE00B3XXRP09 is an S&P500 ETF and costs only about €50 a pop.


  • #13
    Jim2007
    Moderators, Business & Finance Moderators Posts: 9,981 Mod ✭✭✭✭Jim2007


    Lex Luthor wrote: »
    on a side note, if you were to invest in crypto currency (ie. Bitcoin) and use kraken, then the fees there are % based on the amount invested, afaik its 0.26% so even with a small amount you'll only pay a tiny fraction of a commission

    You don't invest in currencies, you speculate - there is no intrinsic value in a currency.


  • #14
    Jim2007
    Moderators, Business & Finance Moderators Posts: 9,981 Mod ✭✭✭✭Jim2007


    AlmightyCushion wrote: »
    DeGiro have a list of commission free ETFs. https://www.degiro.ie/data/pdf/ie/commission-free-etfs-list.pdf

    Some of them are cheap and fit in to your monthly budget or not far off. E.g. IE00B3XXRP09 is an S&P500 ETF and costs only about €50 a pop.

    So about 10% of his investment each year.....


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