advice on savings

[tell me on]

Age:
36
Spouse’s/Partner's age:
na

Annual gross income from employment or profession:
E75k
Annual gross income spouse:
na

Type of employment:
private sector

Expenditure pattern:
generally savers

Rough estimate of value of home
n/a rent- 250/month sharing
na
Mortgage provider:
na
Type of mortgage: Tracker, interest only, fixed rate
na
Interest rate
na

Other borrowings – car loans/personal loans etc
None

Do you pay off your full credit card balance each month?
Yes

Savings and investments:
450k in Savings / Bonds

Do you have a pension scheme?
Yes, private company pension
Do you own any investment or other property?
No.

Ages of children:
None.

Life insurance:
Yes.

What specific question do you have or what issues are of concern to you?
Is it a good time to buy a property or has it reached the bottom of the market yet. Supposed to be alot of property coming on to the market from NAMA etc. How can I maximize a return on my hard savings, currently all on deposit accounts, best one is the 5.5 year government savings

 

[so-crates]

Speculation on property prices is not encouraged here. The question you ought to ask yourself is, do you want to buy a property. Are you looking at it as an investment or as a home. You should also ask yourself whether you want to buy your property with or without a mortgage - do you want to use all your savings on property, keep some in cash or start looking at a more diversified investment approach.

 

[tell me on]

I would think buy outright and be mortgage free untill I decide on that I want to maximize my savings potential. Whats the best method in investing in a business as part owner, as in meeting the right people and buying in. I have time I can invest also and this is an avenue Im eager to get involved in.