Just came across this article online: http://www.obn.ie/blog/2015/06/22/saving-for-a-house-how-to-get-your-deposit-together-faster/
Granted I'm six months behind on reading it, but surely this is the worst advice ever to be given to a prospective house buyer? I was shocked that any financial "adviser" would ever suggest investing in a fund to boost house deposit saving rate.
I quote:
"Using this method you could reach your target deposit six months to a year earlier than by using deposits. This assumes a gain of 6% p.a. on the investment fund chosen."
6% per annum AFTER a Life Company extracting its 2-3%, total pie in the sky.
It seems completely reckless to me. Any thoughts?!
Granted I'm six months behind on reading it, but surely this is the worst advice ever to be given to a prospective house buyer? I was shocked that any financial "adviser" would ever suggest investing in a fund to boost house deposit saving rate.
I quote:
"Using this method you could reach your target deposit six months to a year earlier than by using deposits. This assumes a gain of 6% p.a. on the investment fund chosen."
6% per annum AFTER a Life Company extracting its 2-3%, total pie in the sky.
It seems completely reckless to me. Any thoughts?!