# Re: what to invest my money in



## hizzy (20 Sep 2007)

Hi All

Just wondering if anyone can help please?

I have about 10k sitting in my bank account, and am looking to invest it, but don't know where to begin.

I have searched the threads, but I don't know much about buying shares.

Many thanks

Hizzy


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## damomac (24 Sep 2007)

Rabodirect will pay 5.00% on amounts up to €10,000. That's probably a good place to start off.

[broken link removed]


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## MandaC (28 Sep 2007)

I too am in the same position.  I am thinking of going with investment funds with either Rabodirect or Quinn Life.  

Out of about €10K would I be better breaking that down to say two or three differing amounts or just putting one in. 

Some of Quinn Life's Freeway Funds seem to be doing quite well since launch.


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## rockypatsy (30 Sep 2007)

I have 20000 euro sitting in a credit union a/c which I know is shocking. I am looking to move it on asap but will probably need it in 2-3 yrs to buy a house. I also have 600 euro a month to save, starting next month and would like to know the best savings option out there for that. All help would be appreciated, I do struggle with all this financial stuff.


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## Jethro Tull (30 Sep 2007)

rockypatsy said:


> I have 20000 euro sitting in a credit union a/c which I know is shocking. I am looking to move it on asap but will probably need it in 2-3 yrs to buy a house. I also have 600 euro a month to save, starting next month and would like to know the best savings option out there for that. All help would be appreciated, I do struggle with all this financial stuff.


 
if you are looking for the best deposit rates for demand/term/regular savers the financial best buys forum is the place to go. Pretty detailed list of best rates on offer and minimum/maximum amounts etc.


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## jjmoore (30 Sep 2007)

Aib Specail Term Account. 3 year or 5 years. Pay no dirt on first 480 and 635 interest. Lodged 12700 in this week and will get 6.2% per year


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## messyleo (30 Sep 2007)

6.2%? What product is this available on?


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## oldtimer (30 Sep 2007)

JJMOORE - like gravitygirl, I would like to know where you got the 6.2% per year. Their website says the interest rate is variable. As far as I know the only fixed term on offer from AIB is 6.75% (4.44% A.E.R) over 18 months and this offer finishes on 3rd October. I would check it out and if you are correct let us all know.


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## jjmoore (1 Oct 2007)

Check out for yourself on AiB website


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## oldtimer (2 Oct 2007)

I have read through it on the website and cannot see 6.2% per year mentioned anywhere. I rang AIB and asked them could they guarantee me 6.2% for 3 or 5 years and they said they couldn't becaues the rate is 'variable.'


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## sherib (2 Oct 2007)

[broken link removed]

This seems to be the Special Term AIB account jjmoore mentions. It seems restrictive, 3/5 year term with no withdrawals apart from interest with a minimum deposit of €6,000 and a max of €25,000. No further lodgements allowed after initial deposit. It's very strange that there's no mention of interest paid apart from the DIRT free aspect.


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## Westie123 (2 Oct 2007)

Hello,

The interest rates for all AIB saving products (including the Special Term account) are listed here (I still don't know where 6.2% came from. If only this was the rate!) [broken link removed]


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## PMU (2 Oct 2007)

hizzy said:


> I have about 10k sitting in my bank account, and am looking to invest it, but don't know where to begin.



 Let’s go through the hierarchy of investment options: 
  (a) do you have credit card or equivalent debts that you don’t pay off each month? If so, pay these off with your lump sum; (b) do you have a mortgage? Use a mortgage calculator to work out your savings by paying off a % of your mortgage early.  Unless you think you can beat this by investment, make a lump sum payment on the capital (not the interest) of your mortgage; (c) if you need the money in the next few years (e.g. are you saving for a house) leave it in a high interest deposit account; (e) if you don’t need the money in the next few years, do you have a pension plan and can you make AVCs to it?  It may be more tax-advantageous to invest this way than through a unit fund; (e) if you don’t need the money in the next few years put it in a euro-denominated index tracker(s); (f) if you have both an appetite and a capacity for risk put a proportion (about 5 -10 %) in something non-euro denominated or riskier.  (Note that none of the above are mutually exclusive.)


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## sherib (2 Oct 2007)

Thanks Westie - I missed that! As far as I can see, the best rate with AIB currently is their Regular Saver account which is limited to €300/month at 7.10% but is only guaranteed until January 2008. After that it reverts to ECB rate < 4% currently. 

There doesn't seem to be much choice with Irish Banks - Rabo and N.R. are/were the best especially for lump sums.


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## Westie123 (2 Oct 2007)

Hello,

I now see how jjmoore is quoting 6.2%. This is the gross rate you would have to receive and pay DIRT on all the interest so as to get the same net return as he/she is getting on the special term account.


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## Killer Ken (3 Oct 2007)

Hi PMU,

Regarding the euro-denominated index tracker(s) you mentioned. How does one go about investing in these or say directly in an Index itself. The only options I have found require high capital investments or incur high percentage fees. I know it should be possible to invest in indexes/index funds for lower fees that active funds but I just don't know where. Are you aware of any brokers that offer this service? Or any alternative means of investing.


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## PMU (3 Oct 2007)

Killer Ken said:


> Hi PMU,
> 
> Regarding the euro-denominated index tracker(s) you mentioned. How does one go about investing in these or say directly in an Index itself. The only options I have found require high capital investments or incur high percentage fees. I know it should be possible to invest in indexes/index funds for lower fees that active funds but I just don't know where. Are you aware of any brokers that offer this service? Or any alternative means of investing.



 I was thinking of the QL Euro Freeway (basically I meant a product that tracked an index of euro-denominated securities so you have no exchange rate risk) , but I didn’t want to make a recommendation for specific product. AFAIK the entry to this is about  €1270 (lump sum) or €51 per month (recurring), and the fee is 1%.  You can confirm these on the Quinn Life web site. There  are loads of posts on AAM about opening accounts with QL. There are also equivalent ETFs such as iShares DJ Euro Stoxx 50 (EUE.L) that you can buy through any stockbroker.


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## hizzy (4 Oct 2007)

Hi All

Thanks for the replies in relation to my question, PMU, read through your reply and briefly, I am on top of my loan repayments, I have about 28,000 saved and just wanted to invest 10,000 of this.

In relation to my mortgage, put down 75,000 and borrowed 300,000, am speaking to FC about pension as am self-employed.

Just wanted to invest my money rather than let it sit in the bank.

Thanks

Hizzy


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## jjmoore (4 Oct 2007)

Hi Westie123 varaible rate + saving on dirt = 6.2 % Glad someone done there homework . Best rate out there and they expect rate to *increase.* If anyone needs more info ring Aib and they will confirm


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## DrMoriarty (10 Oct 2007)

Welcome to AAM, jjmoore.

All five of your posts to date have recommended the AIB Special Term account. Can you confirm whether you have any association with AIB?


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## IFT (10 Oct 2007)

edit...


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