Basically cause she asked me to. As I said she's not too pushed about just having it sitting in the bank doing nothingWhy would you play Warren Buffett with your Ma's money?Just give it back .
I borrowed €7k from my mother to buy a car for new job and now I have it to give it back to her. She was saying to just buy prize bonds for her cause the banks pay basically zero interest and she's in no rush for it. I reckon that prize bonds are just as bad, basically losing to inflation with the odd twenty quid win every few years.
I was looking at five and a half year (AER 1.24%) and ten year (AER 2.26%) state savings from the post office. 10 year bonds aren't too bad, paying 25%, but a decade is an awfully long time to wait for €1750. It's still only 2.26% AER which seems fairly poor anyway.
Anyone have any ideas of any good alternatives. I'm not totally risk averse, but honestly have no clue how to even go about other ways. It's not like she's in a rush for the money so I wanna try maximise it for her, or am I just better off with the prize bonds?
You could invest the money in some shares.
Pick 10 companies at random do some research and buy your favourite. Invest €700. Repeat with 10 different companies.
Is this good financial advice, probably not. But I think you would learn a lot, about investing and about yourself.
I'd just give her back her money.
But when they're already asking how to buy shares do you not think this advice might be slightly outside their comfort zone?i think investment grade corporate debt is good value , the LQD fund is paying over 3% NET
But when they're already asking how to buy shares do you not think this advice might be slightly outside their comfort zone?
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