| Author |
 Topic Search  Topic Options
|
Croftman 
Liam Brady
Joined: 18 Aug 2014
Status: Offline
Points: 2554
|
 Post Options
 Thanks(0)
 Quote  Reply
 Posted: 25 Nov 2020 at 11:14am |
|
Not pension related but do have a monthly SO set up to a separate account for the kids. As much to help with college when it comes around than anything else. Just a normal savings account, earns fook all interest or that. Are there better things i should be putting it into instead? Wont need to be touched for 10-12 more years
|
|
Some people just deserve a slap
|
 |
Flanno7hi
Liam Brady
Joined: 26 Jul 2010
Location: Chester
Status: Offline
Points: 2618
|
Post Options
Thanks(0)
Quote Reply
Posted: 25 Nov 2020 at 11:24am |
 Croftman wrote:
Not pension related but do have a monthly SO set up to a separate account for the kids. As much to help with college when it comes around than anything else. Just a normal savings account, earns fook all interest or that. Are there better things i should be putting it into instead? Wont need to be touched for 10-12 more years |
I'm no expert but an ISA or some sort of long term account where you can't touch the money generally will give you at least some interest compared to a normal savings account at the moment. I'd have a look on your banks website.
|
|
Our City. Our Community. Our Club
IG @flanno_7hi
|
|
Zinedine Kilbane 110
Jack Charlton
Man City records obsession
Joined: 20 Mar 2012
Location: Dundalk
Status: Offline
Points: 9647
|
Post Options
Thanks(0)
Quote Reply
Posted: 25 Nov 2020 at 11:30am |
Croftman wrote:
Not pension related but do have a monthly SO set up to a separate account for the kids. As much to help with college when it comes around than anything else. Just a normal savings account, earns fook all interest or that. Are there better things i should be putting it into instead? Wont need to be touched for 10-12 more years |
It depends on your risk appetite but your timeframe is long term. A deposit account earning 1% is a waste IMO.
You should look to invest in a passive fund that just tracks an index as the costs will be low. The US index returns on average 10% per year ... the last 30’years has been much more.... it’s compound so you would be doubling your money every 7 years going by past returns.
Your bank probably offers this service or lots of online brokerage accounts - go with a name you have heard of - Aviva etc
It’s sound more complicated than it is. Overall you are buying a small % of 100’s of companies so it’s safe.
Put your money in each month and don’t worry about it. In 10 years time you will be glad you made the decision.
|
|
|
|
Sham157
Moderator Group
Joined: 17 Jul 2009
Location: Monaghan/Dublin
Status: Offline
Points: 33210
|
Post Options
Thanks(0)
Quote Reply
Posted: 25 Nov 2020 at 11:31am |
Croftman wrote:
Not pension related but do have a monthly SO set up to a separate account for the kids. As much to help with college when it comes around than anything else. Just a normal savings account, earns fook all interest or that. Are there better things i should be putting it into instead? Wont need to be touched for 10-12 more years |
you could look at 10 year state bond if you have a bit of a lump sum built up, thats what I did. Have another lump ready to go as well and ill put that into a 5 year satate savings cert so both will have matured around the end of secondary school.
|
|
Claret Murph
Paul McGrath
Hmmm, Goodness, I must say
Joined: 16 Apr 2009
Location: Tibet
Status: Offline
Points: 15748
|
Post Options
Thanks(0)
Quote Reply
Posted: 25 Nov 2020 at 12:49pm |
Baldie, Yer i get it .Now i was coming across as can you still cut it at that age as you maybe fit and heathly today but you never know what's around the corner . I am live life while you can as the idea of i am going to see the world when i retire has it drawbacks as i just may not happen for many reasons . Look i see wife kids house and life gets in the way and as for spending money the best advice i was told when going away is budget €1000 for every away game and you will not go far wrong . Before anyone says i only spent €120 going to Germany how much doid you spend going to Kaz ?
|
|
Lansdowne Road debut aged 52 and 201 days .
|
|
sausy
Jack Charlton
MAYO FOR SAM
Joined: 13 Jan 2009
Location: The local
Status: Offline
Points: 6980
|
Post Options
Thanks(0)
Quote Reply
Posted: 25 Nov 2020 at 1:00pm |
Croftman wrote:
Not pension related but do have a monthly SO set up to a separate account for the kids. As much to help with college when it comes around than anything else. Just a normal savings account, earns fook all interest or that. Are there better things i should be putting it into instead? Wont need to be touched for 10-12 more years |
You'll get nothing interest wise on a deposit account. If you are looking at 10-12 years while paying a monthly amount then a unit link fund would be your best bet. The Banks do them as well as Aviva, Zurich etc. Similar to a pension you pick what your money goes into depending on risk appetite.
|
|
Bimbos Burgers - "Official Sponsor of the Irish Squad"
|
|
Baldrick
Robbie Keane
Peyton-tly Pedantic
Joined: 18 Sep 2008
Location: Ireland
Status: Offline
Points: 32789
|
Post Options
Thanks(0)
Quote Reply
Posted: 25 Nov 2020 at 1:31pm |
Claret Murph wrote:
Baldie, Yer i get it .Now i was coming across as can you still cut it at that age as you maybe fit and heathly today but you never know what's around the corner .I am live life while you can as the idea of i am going to see the world when i retire has it drawbacks as i just may not happen for many reasons . Look i see wife kids house and life gets in the way and as for spending money the best advice i was told when going away is budget €1000 for every away game and you will not go far wrong . Before anyone says i only spent €120 going to Germany how much doid you spend going to Kaz ? |
Totally agree. I don’t believe in taking it with you but I don’t think it’s fair or possible for most people with young kids to do 3 to 4 week long haul trips or indeed to go to every away game.
I think if you have young kids you are doing well with one away trip per campaign.
I agree also that you never know you could be fcked at 60 or not even make it so it’s about balance. Don’t think it would be fair blowing annual leave and money on away trips while kids are young.
The away trips are not generally a good advertisement for a happy marriage anyway 😀😀😀
|
|
AKA pedantic kunt
|
|
Croftman
Liam Brady
Joined: 18 Aug 2014
Status: Offline
Points: 2554
|
Post Options
Thanks(0)
Quote Reply
Posted: 25 Nov 2020 at 2:43pm |
Sound lads, will look into those further so 
|
|
Some people just deserve a slap
|
|
JUICEBOMB
Liam Brady
Joined: 06 Oct 2011
Location: Ireland
Status: Offline
Points: 2103
|
Post Options
Thanks(0)
Quote Reply
Posted: 25 Nov 2020 at 10:54pm |
Sham157 wrote:
Croftman wrote:
Not pension related but do have a monthly SO set up to a separate account for the kids. As much to help with college when it comes around than anything else. Just a normal savings account, earns fook all interest or that. Are there better things i should be putting it into instead? Wont need to be touched for 10-12 more years |
you could look at 10 year state bond if you have a bit of a lump sum built up, thats what I did. Have another lump ready to go as well and ill put that into a 5 year satate savings cert so both will have matured around the end of secondary school.
|
Just had a quick look at them...the 10yr returns €160 for every €1000 over the ten years.id guess most people will just throw what they have spare into that (could be the children’s allowance etc) so say 250 a mth is €3000 a year over ten years is €30000 or €34800 with the return....that’s along time to be waiting for €5000 return...is there anything that would give a bigger return over that time??
|
|
hard work beats talent when talent doesn't work hard
|
|
Zinedine Kilbane 110
Jack Charlton
Man City records obsession
Joined: 20 Mar 2012
Location: Dundalk
Status: Offline
Points: 9647
|
Post Options
Thanks(0)
Quote Reply
Posted: 26 Nov 2020 at 7:38am |
JUICEBOMB wrote:
Sham157 wrote:
Croftman wrote:
Not pension related but do have a monthly SO set up to a separate account for the kids. As much to help with college when it comes around than anything else. Just a normal savings account, earns fook all interest or that. Are there better things i should be putting it into instead? Wont need to be touched for 10-12 more years |
you could look at 10 year state bond if you have a bit of a lump sum built up, thats what I did. Have another lump ready to go as well and ill put that into a 5 year satate savings cert so both will have matured around the end of secondary school.
|
Just had a quick look at them...the 10yr returns €160 for every €1000 over the ten years.id guess most people will just throw what they have spare into that (could be the children’s allowance etc) so say 250 a mth is €3000 a year over ten years is €30000 or €34800 with the return....that’s along time to be waiting for €5000 return...is there anything that would give a bigger return over that time?? |
With inflation you are probably not getting any return on that investment but it’s zero risk.
The more risk you take on the higher the possible return.
You could buy corporate bond index and earn more. You could buy equity index and earn more.
If you have a long term horizon you should be buying low cost US equity index fund. The average returns are 10% on an annual basis. Some years this will be down 20% and others up 40% but over the long term the average growth is around 10% The best strategy is put in small amounts on a monthly basis so you are not trying to time the market. The longer you are in the market the better.
If you are saving for young kids this is a really good strategy. They will be owning a tiny % of Apple / Google / Amazon / Visa / Nike / AirBnB etc Every time you spend on one of these you know it’s going into one of your companies.
I know for most people this sounds complex but it’s not really. Your bank should have this service available or others like aviva also offer this service. They will try to push a global equity index on you as this is more safe but I would really go with a low cost US Index. The US is the best performing index ever.
|
|
|
|
Shedite
Jack Charlton
Joined: 09 Dec 2011
Status: Offline
Points: 9820
|
Post Options
Thanks(0)
Quote Reply
Posted: 26 Nov 2020 at 9:05am |
Zinedine Kilbane 110 wrote:
JUICEBOMB wrote:
Sham157 wrote:
Croftman wrote:
Not pension related but do have a monthly SO set up to a separate account for the kids. As much to help with college when it comes around than anything else. Just a normal savings account, earns fook all interest or that. Are there better things i should be putting it into instead? Wont need to be touched for 10-12 more years |
you could look at 10 year state bond if you have a bit of a lump sum built up, thats what I did. Have another lump ready to go as well and ill put that into a 5 year satate savings cert so both will have matured around the end of secondary school.
|
Just had a quick look at them...the 10yr returns €160 for every €1000 over the ten years.id guess most people will just throw what they have spare into that (could be the children’s allowance etc) so say 250 a mth is €3000 a year over ten years is €30000 or €34800 with the return....that’s along time to be waiting for €5000 return...is there anything that would give a bigger return over that time?? |
With inflation you are probably not getting any return on that investment but it’s zero risk.
The more risk you take on the higher the possible return.
You could buy corporate bond index and earn more. You could buy equity index and earn more.
If you have a long term horizon you should be buying low cost US equity index fund. The average returns are 10% on an annual basis. Some years this will be down 20% and others up 40% but over the long term the average growth is around 10% The best strategy is put in small amounts on a monthly basis so you are not trying to time the market. The longer you are in the market the better.
If you are saving for young kids this is a really good strategy. They will be owning a tiny % of Apple / Google / Amazon / Visa / Nike / AirBnB etc Every time you spend on one of these you know it’s going into one of your companies.
I know for most people this sounds complex but it’s not really. Your bank should have this service available or others like aviva also offer this service. They will try to push a global equity index on you as this is more safe but I would really go with a low cost US Index. The US is the best performing index ever. |
+1
Croftman if your time horison is anything over 5/10 years, investing in the US index is the way to go. It'll have ups and downs, but long term the result is almost always very positive. Any decent company gets added to that index eventually. Ireland's most promising startup, Strpie, wouldn't go near any other index I'd imagine. All those companies profits, Apple, Tesla, Amazon, all contribute to growing your savings.
|
|
Croftman
Liam Brady
Joined: 18 Aug 2014
Status: Offline
Points: 2554
|
Post Options
Thanks(0)
Quote Reply
Posted: 26 Nov 2020 at 9:22am |
Shedite wrote:
Zinedine Kilbane 110 wrote:
JUICEBOMB wrote:
Sham157 wrote:
Croftman wrote:
Not pension related but do have a monthly SO set up to a separate account for the kids. As much to help with college when it comes around than anything else. Just a normal savings account, earns fook all interest or that. Are there better things i should be putting it into instead? Wont need to be touched for 10-12 more years |
you could look at 10 year state bond if you have a bit of a lump sum built up, thats what I did. Have another lump ready to go as well and ill put that into a 5 year satate savings cert so both will have matured around the end of secondary school.
|
Just had a quick look at them...the 10yr returns €160 for every €1000 over the ten years.id guess most people will just throw what they have spare into that (could be the children’s allowance etc) so say 250 a mth is €3000 a year over ten years is €30000 or €34800 with the return....that’s along time to be waiting for €5000 return...is there anything that would give a bigger return over that time?? |
With inflation you are probably not getting any return on that investment but it’s zero risk.
The more risk you take on the higher the possible return.
You could buy corporate bond index and earn more. You could buy equity index and earn more.
If you have a long term horizon you should be buying low cost US equity index fund. The average returns are 10% on an annual basis. Some years this will be down 20% and others up 40% but over the long term the average growth is around 10% The best strategy is put in small amounts on a monthly basis so you are not trying to time the market. The longer you are in the market the better.
If you are saving for young kids this is a really good strategy. They will be owning a tiny % of Apple / Google / Amazon / Visa / Nike / AirBnB etc Every time you spend on one of these you know it’s going into one of your companies.
I know for most people this sounds complex but it’s not really. Your bank should have this service available or others like aviva also offer this service. They will try to push a global equity index on you as this is more safe but I would really go with a low cost US Index. The US is the best performing index ever. |
+1
Croftman if your time horison is anything over 5/10 years, investing in the US index is the way to go. It'll have ups and downs, but long term the result is almost always very positive. Any decent company gets added to that index eventually. Ireland's most promising startup, Strpie, wouldn't go near any other index I'd imagine. All those companies profits, Apple, Tesla, Amazon, all contribute to growing your savings. |
|
|
Some people just deserve a slap
|
|
engpad
500 Club la la la
Joined: 03 Oct 2007
Status: Offline
Points: 555
|
Post Options
Thanks(0)
Quote Reply
Posted: 26 Nov 2020 at 1:20pm |
Which type of fund would you recommend for a low cost US index?
I've regularly contributed to a Vanguard S&P 500 ETF
|
|
Zinedine Kilbane 110
Jack Charlton
Man City records obsession
Joined: 20 Mar 2012
Location: Dundalk
Status: Offline
Points: 9647
|
Post Options
Thanks(0)
Quote Reply
Posted: 26 Nov 2020 at 2:22pm |
engpad wrote:
Which type of fund would you recommend for a low cost US index?
I've regularly contributed to a Vanguard S&P 500 ETF |
That’s perfect- exactly what you want. The cost is very low at 7bps a year and it tracks the S&P 500 so you own a little of Facebook, Google, amazon, Nike, Visa, EBay etc
It’s up about 12% this year.
|
|
|
|
Flanno7hi
Liam Brady
Joined: 26 Jul 2010
Location: Chester
Status: Offline
Points: 2618
|
Post Options
Thanks(0)
Quote Reply
Posted: 26 Nov 2020 at 3:58pm |
Zinedine Kilbane 110 wrote:
JUICEBOMB wrote:
Sham157 wrote:
Croftman wrote:
Not pension related but do have a monthly SO set up to a separate account for the kids. As much to help with college when it comes around than anything else. Just a normal savings account, earns fook all interest or that. Are there better things i should be putting it into instead? Wont need to be touched for 10-12 more years |
you could look at 10 year state bond if you have a bit of a lump sum built up, thats what I did. Have another lump ready to go as well and ill put that into a 5 year satate savings cert so both will have matured around the end of secondary school.
|
Just had a quick look at them...the 10yr returns €160 for every €1000 over the ten years.id guess most people will just throw what they have spare into that (could be the children’s allowance etc) so say 250 a mth is €3000 a year over ten years is €30000 or €34800 with the return....that’s along time to be waiting for €5000 return...is there anything that would give a bigger return over that time?? |
With inflation you are probably not getting any return on that investment but it’s zero risk.
The more risk you take on the higher the possible return.
You could buy corporate bond index and earn more. You could buy equity index and earn more.
If you have a long term horizon you should be buying low cost US equity index fund. The average returns are 10% on an annual basis. Some years this will be down 20% and others up 40% but over the long term the average growth is around 10% The best strategy is put in small amounts on a monthly basis so you are not trying to time the market. The longer you are in the market the better.
If you are saving for young kids this is a really good strategy. They will be owning a tiny % of Apple / Google / Amazon / Visa / Nike / AirBnB etc Every time you spend on one of these you know it’s going into one of your companies.
I know for most people this sounds complex but it’s not really. Your bank should have this service available or others like aviva also offer this service. They will try to push a global equity index on you as this is more safe but I would really go with a low cost US Index. The US is the best performing index ever. |
Hi ZZ, do they normally have a deposit limit to join? So you have to put in 5k and then a monthly direct debit or can you just start with £100 say and build it up?
|
|
Our City. Our Community. Our Club
IG @flanno_7hi
|
|
SeanyL
Ronnie Whelan
Joined: 19 Nov 2020
Status: Offline
Points: 91
|
Post Options
Thanks(0)
Quote Reply
Posted: 26 Nov 2020 at 4:06pm |
engpad wrote:
Which type of fund would you recommend for a low cost US index?
I've regularly contributed to a Vanguard S&P 500 ETF |
What app do you use to invest? Problem i find is most apps are not really cost effective for investing say €50 a month once transaction fees are applied. I know Revolut is cheap but they only do S&P 500 stocks.
|
|
Zinedine Kilbane 110
Jack Charlton
Man City records obsession
Joined: 20 Mar 2012
Location: Dundalk
Status: Offline
Points: 9647
|
Post Options
Thanks(0)
Quote Reply
Posted: 26 Nov 2020 at 4:16pm |
Flanno7hi wrote:
Zinedine Kilbane 110 wrote:
JUICEBOMB wrote:
Sham157 wrote:
Croftman wrote:
Not pension related but do have a monthly SO set up to a separate account for the kids. As much to help with college when it comes around than anything else. Just a normal savings account, earns fook all interest or that. Are there better things i should be putting it into instead? Wont need to be touched for 10-12 more years |
you could look at 10 year state bond if you have a bit of a lump sum built up, thats what I did. Have another lump ready to go as well and ill put that into a 5 year satate savings cert so both will have matured around the end of secondary school.
|
Just had a quick look at them...the 10yr returns €160 for every €1000 over the ten years.id guess most people will just throw what they have spare into that (could be the children’s allowance etc) so say 250 a mth is €3000 a year over ten years is €30000 or €34800 with the return....that’s along time to be waiting for €5000 return...is there anything that would give a bigger return over that time?? |
With inflation you are probably not getting any return on that investment but it’s zero risk.
The more risk you take on the higher the possible return.
You could buy corporate bond index and earn more. You could buy equity index and earn more.
If you have a long term horizon you should be buying low cost US equity index fund. The average returns are 10% on an annual basis. Some years this will be down 20% and others up 40% but over the long term the average growth is around 10% The best strategy is put in small amounts on a monthly basis so you are not trying to time the market. The longer you are in the market the better.
If you are saving for young kids this is a really good strategy. They will be owning a tiny % of Apple / Google / Amazon / Visa / Nike / AirBnB etc Every time you spend on one of these you know it’s going into one of your companies.
I know for most people this sounds complex but it’s not really. Your bank should have this service available or others like aviva also offer this service. They will try to push a global equity index on you as this is more safe but I would really go with a low cost US Index. The US is the best performing index ever. |
Hi ZZ, do they normally have a deposit limit to join? So you have to put in 5k and then a monthly direct debit or can you just start with £100 say and build it up? |
No initial lump sum required, There may be a mim monthly direct debit of 100 but that’s it.
|
|
|
|
Flanno7hi
Liam Brady
Joined: 26 Jul 2010
Location: Chester
Status: Offline
Points: 2618
|
Post Options
Thanks(0)
Quote Reply
Posted: 26 Nov 2020 at 4:34pm |
Zinedine Kilbane 110 wrote:
Flanno7hi wrote:
Zinedine Kilbane 110 wrote:
JUICEBOMB wrote:
Sham157 wrote:
Croftman wrote:
Not pension related but do have a monthly SO set up to a separate account for the kids. As much to help with college when it comes around than anything else. Just a normal savings account, earns fook all interest or that. Are there better things i should be putting it into instead? Wont need to be touched for 10-12 more years |
you could look at 10 year state bond if you have a bit of a lump sum built up, thats what I did. Have another lump ready to go as well and ill put that into a 5 year satate savings cert so both will have matured around the end of secondary school.
|
Just had a quick look at them...the 10yr returns €160 for every €1000 over the ten years.id guess most people will just throw what they have spare into that (could be the children’s allowance etc) so say 250 a mth is €3000 a year over ten years is €30000 or €34800 with the return....that’s along time to be waiting for €5000 return...is there anything that would give a bigger return over that time?? |
With inflation you are probably not getting any return on that investment but it’s zero risk.
The more risk you take on the higher the possible return.
You could buy corporate bond index and earn more. You could buy equity index and earn more.
If you have a long term horizon you should be buying low cost US equity index fund. The average returns are 10% on an annual basis. Some years this will be down 20% and others up 40% but over the long term the average growth is around 10% The best strategy is put in small amounts on a monthly basis so you are not trying to time the market. The longer you are in the market the better.
If you are saving for young kids this is a really good strategy. They will be owning a tiny % of Apple / Google / Amazon / Visa / Nike / AirBnB etc Every time you spend on one of these you know it’s going into one of your companies.
I know for most people this sounds complex but it’s not really. Your bank should have this service available or others like aviva also offer this service. They will try to push a global equity index on you as this is more safe but I would really go with a low cost US Index. The US is the best performing index ever. |
Hi ZZ, do they normally have a deposit limit to join? So you have to put in 5k and then a monthly direct debit or can you just start with £100 say and build it up? |
No initial lump sum required, There may be a mim monthly direct debit of 100 but that’s it. |
Just checked and I had 1 years pension from a place a worked at for 18 months. it was sitting doing nothing in a former employees fund. I moved it to vanguard us equity index. so i'll leave it and see what it does in a few years
|
|
Our City. Our Community. Our Club
IG @flanno_7hi
|
|
Tweet
