[Advice please] Investment account for my son

Xios · 07-10-2019 02:21PM #1

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?

One More Toy · 07-10-2019 02:24PM

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.

One More Toy · 07-10-2019 02:31PM

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

Xios · 07-10-2019 02:36PM

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.

One More Toy · 07-10-2019 02:44PM

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.

Lex Luthor · 07-10-2019 03:36PM

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

One More Toy · 07-10-2019 03:39PM

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

daheff · 07-10-2019 03:42PM

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.

One More Toy · 07-10-2019 03:50PM

daheff wrote: »

dont do this

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

Seconded

Xios · 07-10-2019 04:19PM

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.

One More Toy · 07-10-2019 04:28PM

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

AlmightyCushion · 14-10-2019 11:06AM

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.

Jim2007 · 14-10-2019 04:21PM

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.

Jim2007 · 14-10-2019 04:22PM

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.....

[Advice please] Investment account for my son

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