50 this year, 100k to invest

[Skippyo]

Hi everyone,
Appreciate your advice please. I have ~100k to invest, turned 50 this year and would be happy to leave it alone for the next 10 years or so. I am not averse to a bit of risk. My broker is recommending going to Zurich Life. To be fair I have some money invested in their Index Top Tech fund and it has done really well this year. What do you think? Thanks

 

[Cricketer]

What do you think? Thanks

Welcome Skip. Lots of straight and to the point advice here. I have €100k invested with Zurich Life (40% International Equity, 35% Prisma 5, 25% Five Star Five Global). I'm getting a little more adventurous and having set up a DEGIRO account, today invested €20k in my first ETF (Vanguard VWCE). I intend to leave for ten years minimum. That's my strategy, for better or worse. I am not recommending it to you. Others will ask you to fill in this information first so we can get your full financial picture. Best of luck!

 

[Skippyo]

Thank you! Ok so more detail ..
Age: 50
Spouse’s/Partner's age: nope, just me

Annual gross income from employment or profession: 200k + potential bonus
Monthly take home pay ~9k

Type of employment: Regular employee

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

Rough estimate of value of home - 600k
Amount outstanding on your mortgage: 400k (recently purchased following divorce and have a fairly short mortgage on it)
What interest rate are you paying? 2.9% (I know, going back to look at this in the next couple of months)

Other borrowings – car loans/personal loans etc Bit of a car loan, planning to pay it off with bonus

Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card?

Savings and investments:

Do you have a pension scheme? Yes

Do you own any investment or other property? Yes but disposing of

Ages of children: youngest is still at home, due to start secondary school in Sept

Life insurance: yes, lots work and private

 

[NoRegretsCoyote]

I would pay down the mortgage and reduce mortgage payments.

You should also pay off a car loan asap if you are carrying €100k in cash.

Otherwise if you are 50 and want to leave it alone for 10 years you should take advantage of tax-relieved pension contributions if you aren't already.

 

[RedOnion]

You've left a lot of blanks in the further information. We've no idea if the 100k is all of your savings, or just a small portion.

How much of a return do you realistically expect to earn on investment? Be realistic. Now, take off fees, and tax, and is it more than 2.9%?

You haven't mentioned pension at all in your further information.

Pay money off your mortgage. Put as much as you can into your pension. Only after that should you be looking at investing in non tax relieved investments.