What would you do with €130K in savings as a 30 year old?

Drip feed it into the stockmarket. You don't have to put 130k in now. Buy into a fund at maybe 1000 a month or something like that. If market drops you're buying in cheaper and you'll benefit from future upswing. Google dollar cost averaging.
Enjoy having a few quid at hand. Go on a holiday for a month when you can. Learn about investing with your relatively small regular contributions.
And get a financial advisor, fee paid.

But before you do this in a savings fund, max out the prsa contributions.

Are you using your full pension contribution allowance? If not, for your age I think you can put 20% of your gross salary in. If you make a contribution into your pension from your after tax salary you can claim tax relief on this. Basically you’ll get a 40% return in year one which you could then reinvest or save.

I am NOT a QFA and with the amount you’re talking about you should talk to a financial advisor.

Rezident wrote: »

OP - Be very careful about getting married here, the Family Laws in Ireland are significantly biased towards the woman and are openly biased against men/fathers. She will get the kids, the house, the money and your future earnings no matter how poor her conduct.



Be very careful especially now that 50% of marriages fail and 80% of divorces are initiated by the woman. As soon as you run into issues, as every relationship does, it is only a matter of time before one of her female friends will tell her: 'you know, if you leave him girl, you get the house, the kids, all his money etc. etc.'

OP could be a woman?

Don't do anything with it ... Keep it unless you need it.

I'm amazed to learn how you amassed that sum at such a young age. Care to let us know. I personally have a gross income of 2900 per month and can save about 1,650 net per month. My property is morthgage-free.

If you intend to buy a property then keep your money in cash. Drip feed in to regular saver accounts. Ulster Bank pay 0.85 per year and you can pay 3,500 per month. But they may pull out of ROI. PTSB regular saver pays 0.20% interest. I think buying a property as your principal private residence should be a priority.

Perhaps pre nuptial contracts will be fully recognised In Irish Law when or if you decide to marry. I suggest you sign one as it looks like you will be heading for your
First million in no time

Im 31, and have done relatively well - through savings and then my own company so have a good bit of experience here.

Short answer is it's complicated and there's no such thing as a crystal ball when it comes to financial advise....

In my own humble opinion, the market is overpriced right now, you're also right 'don't time the market, it's time in the market' . If I had 130K at 31 personally Id look to put 15K into a spread of crypto, 50K into a spread of solid high tech (hardware, software, bio) companies with solid financial foundations and buy in over the next 2-3 years. I'd then take 25K and invest into personal development - that could be a degree, setting up your own business or just personal development, last I'd take the remaining balance and go buy expensive whisky, bags of coke, hookers, and a 1st class ticket around the world << balance.

Everyone goes on about Irish pensions, which is true, they are a great tax savers - but make sure you are actually paying the tax to save.

However, the one golden rule is; do not buy off the shelf pension or investment products from financial institutions.. -- they are easy to access and seem like a great idea but they will charge you a fortune to 'manage' in fees for something you can do yourself or pay someone to setup.

Deleted User wrote: »

CFA is the premium qualification isn't it?

As someone studying for the CFA I can tell you that it is and it isn't.

It's considered the gold standard qualification in investment management, particularly at the institutional level. You'll learn a lot about portfolio management, equity analysis, fixed income,derivatives etc.

But it's not really geared towards advising individuals and wealth management as there's no country-specific portion that looks at tax law and so forth.
So while I could talk all day about fundamental analysis and building risk-efficient portfolios when it comes to tax which is just as if not more important I know nothing and would need a financial planner/tax advisor.

I'd advise looking at reputation rather than a qualification in this area as the QFA isn't that old a qualification and a lot of the more experienced advisers may not have it as they were grandfathered in when it became a requirement. Plus as mentioned above it's handy enough to pick up with minimum effort so other than for regulatory purposes its hardly worth the paper it's written on.

Jimbobjoeyman wrote: »

As someone studying for the CFA I can tell you that it is and it isn't.

It's considered the gold standard qualification in investment management, particularly at the institutional level. You'll learn a lot about portfolio management, equity analysis, fixed income,derivatives etc.

But it's not really geared towards advising individuals and wealth management as there's no country-specific portion that looks at tax law and so forth.
So while I could talk all day about fundamental analysis and building risk-efficient portfolios when it comes to tax which is just as if not more important I know nothing and would need a financial planner.

I'd advise looking at reputation rather than a qualification in this area as the QFA isn't that old a qualification and a lot of the more experienced advisers may not have it as they were grandfathered in when it became a requirement. Plus as mentioned above it's handy enough to pick up with minimum effort so other than for regulatory purposes its hardly worth the paper it's written on.

All the Bank staff in branches seem to have a QFA qualification. They are the LAST people I would take advice from qualification or not.

Irishphotodesk wrote: »

OP, put it into prizebonds, you can access your money at any time (I think it takes 30days) and you get the chance at winning a few prizes

Once banks start charging negative interest you’ll see a lot more in prize bonds . Most won’t see any prizes then even with 50k in the pot.

Yyhhuuu wrote: »

I'm amazed to learn how you amassed that sum at such a young age. Care to let us know. I personally have a gross income of 2900 per month and can save about 1,650 net per month. My property is morthgage-free.

If you intend to buy a property then keep your money in cash. Drip feed in to regular saver accounts. Ulster Bank pay 0.85 per year and you can pay 3,500 per month. But they may pull out of ROI. PTSB regular saver pays 0.20% interest. I think buying a property as your principal private residence should be a priority.

Perhaps pre nuptial contracts will be fully recognised In Irish Law when or if you decide to marry. I suggest you sign one as it looks like you will be heading for your
First million in no time

Pre nup in Ireland have - no legal standing whatsoever. Be wary

property & pension

Why don't you invest in An Post State Saving products. Although the interest rate has decreased they still have the best returns if you leave the investment in long term.

[Deleted User] wrote: »

My parents nearing retirement in the mid-2000's were advised by a certain "money doctor" to draw down 40k mortgage top-up. My parents asked, why, and he gave some vague reason to "have fun, buy a nice car, travel a bit and enjoy life" as they were getting older. He also encouraged them to invest in some properties in foreign countries that they had barely even heard of let along visited.

The went away and thought about it and they realised they were quite content with the existing mid-market car and the usual mid-market holidays. A few months later the market went belly up. I am really glad I have parents who question the received wisdom from supposed "experts".

I got similar advice from a similar type money doctor - all was available on the net - biggest waste of a fee for me -

HillCloudHop wrote: »

Sorry, I phrased this poorly. I have to move across the country and likely abroad every year for the next 5 years to progress in my career. Would it be a lot of hassle renting a property out and dealing with tenants in this case?

Your best bet in this case would be to let an agent fully manage the property for you. Obviously they will take a set fee from you, a months rent, or around 7% if I remember correctly. Personally I don't think I'd be comfortable with lobbing my full savings into the one single illiquid asset however, especially when you usually won't get much more than an 8% return at best, which the stockmarket has roughly averaged the last 20yrs or so.

OP do you see the housing market going up or down within the 5 years in the area you want to live?

I was in a similar position and decided to buy a few years ago so we now "rentvest".

Glad we did it as the market has risen.