Investment advice for Under 30 year old

C

Cilliano

New Member
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Hello all,

I am looking for advice, I am 27 years old and I am currently saving 1000 euros a month into a credit union account with zero growth. I am not sure on what or where to put my money. I plan on building another house in 5-7 years depending on when the price of materials decreases. I have a mortgage at a low interest rate locked in for 5 years.

I also just had a child and I am saving an additional 100 euros a month for her school/ college fund. Ideally i would like to tie up the college fund into a long-term account/ trust.

I have participated in swing trading with some mixed results. I do not have the time with work commitments to be fully engaged in trading frequently.

I am not interested in pumping all my money into a pension fund as you just dont know what is around the corner.

Any advice would be greatly appreciated.
 
Pump money into a pension fund! What is around the corner is gradually increasing life expectancies and rising State Pension ages.

You are missing out on a substantial tax break that is there for your benefit to help you to accumulate savings
 
What would be earliest age I can access the pension fund. And any recommendations for a college fund
 
Earliest is age 50.

I just cracked open one of my pensions last year. Took out a tax free lump sum and paid off a load of debts. Increased my disposable income by 22% and can now easily afford college fees for my own son.

My analysis of monthly saving plans for children can be found here

joom.ag

Stock Market Monthly Saver Monthly Saver Guide V4.0

This guide was inspired by my own efforts to set up a regular savings plan for my own son’s college education as such it may be of interest for Parents or Grandparents looking to set up a regular savings plan for children or grandchildren. It may also be relevant to those considering a regular...
joom.ag joom.ag
 
Can you take out your avcs at age 50 and leave the normal pension in until retirement age if your still working
 
It depends. Harder to do if you work for one employer and are still employed with the same employer when you turn 50.

I’m reality people change jobs more frequently now so there is more opportunity to split up pension benefits at different times.
 
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