# Best option for 10,000€



## masterboy123 (15 Aug 2019)

Hi,

I have never invested my money and looking for some advice here. 

I have 10,000 euros which I would like to invest for a year. I am currently with AIB. 

What's the best & safest option for me please?


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## jpd (15 Aug 2019)

https://www.statesavings.ie/our-products/book-based-deposit-account are probably the safest


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## masterboy123 (15 Aug 2019)

Thanks so much. 
I am going to have a look at it now. 
How much will I get at the end of one year? 



jpd said:


> https://www.statesavings.ie/our-products/book-based-deposit-account are probably the safest


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## Peanuts20 (15 Aug 2019)

harsh and cold reality is you are going to get little or nothing over a year, especially when DIRT is factored in. If you make more then €75 after DIRT you're doing well


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## masterboy123 (15 Aug 2019)

Could you help me how much am I going to get for 10,000 euros for 1 year? 



Peanuts20 said:


> harsh and cold reality is you are going to get little or nothing over a year, especially when DIRT is factored in. If you make more then €75 after DIRT you're doing well


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## PaddyBloggit (15 Aug 2019)

masterboy123 said:


> Could you help me how much am I going to get for 10,000 euros for 1 year?



Did Peanuts20 not answer you?



Peanuts20 said:


> harsh and cold reality is you are going to get little or nothing over a year, especially when DIRT is factored in. If you make more then *€75* after DIRT you're doing well


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## masterboy123 (15 Aug 2019)

Ok so it's around *€75. *

I have been reading other threads. Are Prize Bond any good given no DIRT on them? Assume I don't have any winnings in a year, how much can I make out from 10,000 euros in a year? 

Thanks again.


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## noproblem (15 Aug 2019)

Z-E-R-O is the answer to your question.
Have you a loan or a mortgage to pay back. Paying the 10k towards that will give you more than any interest you can earn.


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## masterboy123 (15 Aug 2019)

Ah ok. 



noproblem said:


> Z-E-R-O is the answer to your question.
> Have you a loan or a mortgage to pay back. Paying the 10k towards that will give you more than any interest you can earn.


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## Boyd (16 Aug 2019)

So basically we now know, 10k invested for a year in the safest option is basically worth nothing. Just wondering from a financial knowledge side of things, what did you think it would return, money wise? Im just wondering to gauge public expectations of saving Vs reality, please don't take offence.


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## masterboy123 (16 Aug 2019)

A poster mentioned you can get interest of *€75 on €10k.*



username123 said:


> So basically we now know, 10k invested for a year in the safest option is basically worth nothing. Just wondering from a financial knowledge side of things, what did you think it would return, money wise? Im just wondering to gauge public expectations of saving Vs reality, please don't take offence.


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## noproblem (16 Aug 2019)

You could also call into Paddy Power and ask them for odds on Kilkenny v Tipperary in the All Ireland Final on Sunday. Then stick your 10k on either of them at 11/8 or 8/1 the draw. If it was a draw your 10k would get you €80,000.00 and your original 10k back as well. Now, where were we?


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## Boyd (16 Aug 2019)

masterboy123 said:


> A poster mentioned you can get interest of *€75 on €10k.*


I think you misinterpreted my question. I know it's only e75. I was wondering how the e75 tied in with your original expectation of return? For example, did you expect to be able to get e1000, a 10 percent return say? Or did you have any expected return in mind?


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## masterboy123 (16 Aug 2019)

What if I loose the bet? 



noproblem said:


> You could also call into Paddy Power and ask them for odds on Kilkenny v Tipperary in the All Ireland Final on Sunday. Then stick your 10k on either of them at 11/8 or 8/1 the draw. If it was a draw your 10k would get you €80,000.00 and your original 10k back as well. Now, where were we?


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## masterboy123 (16 Aug 2019)

I was expecting around 250€.



username123 said:


> I think you misinterpreted my question. I know it's only e75. I was wondering how the e75 tied in with your original expectation of return? For example, did you expect to be able to get e1000, a 10 percent return say? Or did you have any expected return in mind?


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## jpd (16 Aug 2019)

That's 2.5% - one year deposit interest rates haven't been that high in years


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## noproblem (16 Aug 2019)

masterboy123 said:


> What if I loose the bet?


You'll already have given them the 10k so it wouldn't be too bad. I'm beginning to wonder if you're taking the mick out of us?


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## cremeegg (16 Aug 2019)

I remember well, my grandfather sold his car and gave me £1,000, from the proceeds which I thought was huge money at the time.

I went into the bank to see how I could invest my windfall. There was nothing that over a year could pay me more than the equivalent of an few extra hours work at my job in the pub.

The disappointment. I thought I might as well just blow the money.


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## Nicetoknow (16 Aug 2019)

Not a lot of motivation to save/ invest when returns are so low is there?  

Feels like saving at these returns can only be useful for wealth creation when seen as a means to protect yourself against having to take on expensive debt in the future e.g. car loan or similar.


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## masterboy123 (16 Aug 2019)

Thanks everyone. 
I have put some amount on my AIB online savings account. Will get few bucks


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## Martyn (20 Aug 2019)

I know I'm a bit late to the party here but might be worth mentioning, the KBC Extra Regular Saver currently gives 1.75% AER Variable (before the dreaded DIRT of course) and allows a lump sum of €10k to be put in at the start. But you can only get the _Extra_ Regular Saver if you can get the Extra Current Account (which requires €2k to be lodged every month, e.g. salary, but then gives pretty much fee-free daily banking) and you would need to commit to putting money into the Extra Regular Saver every month, although the minimum is only €100 per month.






						Important Information - Current Accounts - Extra - KBC
					






					www.kbc.ie
				




And no, I don't work for KBC. But I do bank with them!


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## settlement (21 Aug 2019)

What are the chances of deposit interest rates increasing at all over the next 3-4 years?


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## noproblem (21 Aug 2019)

Very low odds and in the short term the rates may well decrease. You could always chance your arm and buy Turkish Lira and deposit it there where you'll be paid aprox 24% pa at the moment.


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## ClubMan (22 Aug 2019)

masterboy123 said:


> Hi,
> 
> I have never invested my money and looking for some advice here.
> 
> ...


I'm even later to the party but it's impossible to give a useful answer without more details about your overall financial and personal circumstances. E.g. as some posters have mentioned if you have any debt then paying them down/off may be the best "return" by far. E.g. if you had €10K in credit card debt then you could "earn/save" 15-25% by clearing it depending on the card rate. Similarly if you have other loans it may make sense to pay them down/off.


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## masterboy123 (22 Aug 2019)

Thanks for the advice. 

I don't have any loan or mortgage at the moment. 
But in the process of getting a new home in the next few months. But I have a fixed rate mortgage from PTSB, so it will have some extra fees involved if I deposit lump sump. 

Just going to keep this extra savings now as it is now. Might require it once we move into the new home (although I have kept money separately for furniture, appliances, etc) 



ClubMan said:


> I'm even later to the party but it's impossible to give a useful answer without more details about your overall financial and personal circumstances. E.g. as some posters have mentioned if you have any debt then paying them down/off may be the best "return" by far. E.g. if you had €10K in credit card debt then you could "earn/save" 15-25% by clearing it depending on the card rate. Similarly if you have other loans it may make sense to pay them down/off.


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