# Looking to invest, finding it a bit hard to comprehend



## foobally (12 Feb 2014)

Age: 26
   Spouse’s/Partner's age: N/A

   Annual gross income from employment or profession: €0 (€750 a month dole)
   Annual gross income of spouse:

Monthly take-home pay: If this means money after expenses paid, about €300

   Type of employment: e.g. Civil Servant,  self-employed None

In general are you:
(a) spending more than you earn, or
(b) saving?
Saving

   Rough estimate of value of home Renting
   Amount outstanding on your mortgage: 
*What interest rate    are you paying? *

   Other borrowings – car loans/personal loans etc. None

   Do you pay off your full credit card balance each month? No credit card
   If not, what is the balance on your credit card? 

   Savings and investments: €20,000 in BoI Life, €5,000 current account Ulster Bank

   Do you have a pension scheme? No

   Do you own any investment or other property? No

   Ages of children: None

   Life insurance: No


*What specific question do you have or what issues are of concern to you?

*The investments I have aren't performing (0% after 5 years) and I'm looking to change it but I'm finding it fairly confusing. The question I have is: how much return will I get? This doesn't seem to be answered anywhere, nor do I get a decent summary of what investment options are out there at what risks and what return.

Do I have to just go into every bank and stockbroker and ask them what investments they have?

Also, is it a good idea to keep my emergency fund as a current account, or should I close it and put it all into a deposit account?

I saw someone mention a 'Best Buy Thread' but I didn't see it on this forum, can someone point me to it?

Thanks for any help


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## Jazz01 (12 Feb 2014)

Best buy thread - http://www.askaboutmoney.com/showthread.php?t=90481


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## Bronte (13 Feb 2014)

What is the 300 Euro, the amount you have left out of your dole amount after paying rent, utilities etc?


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## foobally (13 Feb 2014)

That's right, but the real question is about investing. Basically how can I get a sense of what kind of return I'll get.


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## br1an (13 Feb 2014)

If you are unemployed I would say that the smartest investment you could make now would be in yourself, up-skilling or re-skilling.


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## QED (21 Feb 2014)

br1an said:


> If you are unemployed I would say that the smartest investment you could make now would be in yourself, up-skilling or re-skilling.


 

This is excellent advice. At 26 years old, €25k is a drop in the ocean compared to your likely future needs. No Investment Return is going to change this.

It's unlikely you'll want to live on €750 per month for the next 40 years.


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