250 K to invest ... What to do

W

windo77

Registered User
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79
Hi,

I am selling a house and I hope to receive about €250 K after taxes have been paid. I would be very grateful for any advice on how best to invest it. I have a plan of investing in a range of products - low-risk (€100 K), medium-risk (€100 K) and high-risk (€50 K) - but I need advice on what products to invest in or how to identify suitable products. The information below is relevant.

Many thanks.


Age: 49; Wife: 51

Annual gross income from employment: €38K; Wife: €39K

Monthly net pay: €1,700; Wife: €1,800

Type of employment: On contract with a public body; Wife: Permanent position with a private company.

My wife and I save jointly about €500 per month after all bills have been paid and we have about €120K in deposit accounts with banks.

Estimate of value of home: €350K.

We do not have a mortgage or other borrowings.

We pay off our credit card balances in full each month.

We are members of pension schemes and I contribute 25% of my gross salary (30% in wife's case).

We have no children.

My wife and I have life insurance of about €130K each.
 
You are doing really really well financially.

No advice on investments but would seriously advise blowing some of it on something once-in-a-lifetime!
 
Hi .

Based on the information you've provided and because current bank interest rates are dismal, have you thought of investing in shares?

In the past I took the option of investing in banks but reckon now that life is far too short to check numbers on pages. So I decided to invest in property - at least I can see the fruits of my labour and (lucky so far) I get a relatively decent return compared to deposit account rates (after paying Mr Noonan).

I reckon that people are either spenders or savers. It's amazing how years of conditioning and mind-set can influence everyone's investment strategies though!

Well done & best of luck with it!
 
Absolutely agree with Mrs Vimes - those numbers are really impressive.

Could you give us an indication of the size/transfer value of your pension accounts and what they are invested in? It is important to look at your financial position as a whole when deciding how to allocate your assets.

Also, could you give us a sense as to what you ultimately want to do with your savings? Are you simply looking to invest to fund your (possibly early) retirement or do you have some other long term goal, such as leaving money to a favourite relative or charity?
 
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Maybe knowing pension fund - if defined benefit or defined contribution - is a good indicator when deciding accounts -plus AVCs. BTW I'm not a big pension fan - the goalposts can move so easy based on the economy e.g. temporary pension levy or company insolvency (DB pension subscriber here btw). Age retirement decisions are important too.

I would also be interested if you have a will in place windo77 and, if so, how did you select a solicitor, executor and what details were required.
 
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windo77 said:
Hi,

I am selling a house and I hope to receive about €250 K after taxes have been paid. I would be very grateful for any advice on how best to invest it. I have a plan of investing in a range of products - low-risk (€100 K), medium-risk (€100 K) and high-risk (€50 K) - but I need advice on what products to invest in or how to identify suitable products. The information below is relevant.

Many thanks.


Age: 49; Wife: 51

Annual gross income from employment: €38K; Wife: €39K

Monthly net pay: €1,700; Wife: €1,800

Type of employment: On contract with a public body; Wife: Permanent position with a private company.

My wife and I save jointly about €500 per month after all bills have been paid and we have about €120K in deposit accounts with banks.

Estimate of value of home: €350K.

We do not have a mortgage or other borrowings.

We pay off our credit card balances in full each month.

We are members of pension schemes and I contribute 25% of my gross salary (30% in wife's case).

We have no children.

My wife and I have life insurance of about €130K each.
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savings account for a few years , very few assets ( bar energy companies ) going cheap at the moment and the opportunity for value in the irish property market is past unless you buy in the middle of nowhere , the market always comes to you if you wait
 
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