Hi there,
Just looking for some advice on the best savings/investment options over a 5-6 year period. At the moment, this is my situation. I have just opened a FA reg savings a/c and will be saving €700 per month with them. I also have app. €24k in Acorn Life managed funds, into which I am currently investing €300 per month.
I am basically looking for some advice to make the most of the above funds (€24k lump sum + €1,000 per month investment) over a 5-6yr period.
The options I have come to are as follows:
1. Deposit €24k into various lump sum a/c's - FA, Rabo etc. and drip feed into various regular saver a/c's including topping up the existing FA reg savings to max €1,000 per month.
2. Leave the €24k with Acorn Life & continue investing with them aswell as the FA reg savings. The 24k has accumulated over a 6 yr period and while not performing well over the last year, it has done ok over the full period. My total premiums were app €17k, Govt premiums app. €3k and after tax & expenses, it is now worth €24k.
3. Spread the €24k into various funds such as the online Rabo ones. The funds could range from low, medium to high. Top up the FA reg savings to €1,000 per month.
Option 1 seems like a very cautious approach and Im sure I could do better with my money. Option 2 is probably not a bad option, especially since Acorn Life's fees are front loaded and over a 5-6yr period it should perform reasonably well. Option 3 is probably the most riskiest option but Im not risk adverse so would consider it if there is a good chance of high returns.
Any advice would be appreciated and also if there are other options which I could consider.
Thanks.
Just looking for some advice on the best savings/investment options over a 5-6 year period. At the moment, this is my situation. I have just opened a FA reg savings a/c and will be saving €700 per month with them. I also have app. €24k in Acorn Life managed funds, into which I am currently investing €300 per month.
I am basically looking for some advice to make the most of the above funds (€24k lump sum + €1,000 per month investment) over a 5-6yr period.
The options I have come to are as follows:
1. Deposit €24k into various lump sum a/c's - FA, Rabo etc. and drip feed into various regular saver a/c's including topping up the existing FA reg savings to max €1,000 per month.
2. Leave the €24k with Acorn Life & continue investing with them aswell as the FA reg savings. The 24k has accumulated over a 6 yr period and while not performing well over the last year, it has done ok over the full period. My total premiums were app €17k, Govt premiums app. €3k and after tax & expenses, it is now worth €24k.
3. Spread the €24k into various funds such as the online Rabo ones. The funds could range from low, medium to high. Top up the FA reg savings to €1,000 per month.
Option 1 seems like a very cautious approach and Im sure I could do better with my money. Option 2 is probably not a bad option, especially since Acorn Life's fees are front loaded and over a 5-6yr period it should perform reasonably well. Option 3 is probably the most riskiest option but Im not risk adverse so would consider it if there is a good chance of high returns.
Any advice would be appreciated and also if there are other options which I could consider.
Thanks.