Investment Options for New Baby

[A.N.Other]

Hi

We've recently had a new baby & I would like to investigate investments for putting money away for her for the future (10+ years). For the moment we could only afford to contribute minimally to it, say ~€50 per month, obviously with the hope that we can increase that in time. I read an article in the Irish Times recently which mentioned the Quinn Life Freeway funds & was wondering there are any other suitable funds I should look into?

Am interested to hear too of what other people with new families have done to save for the future.

 

[Rory Gillen]

Regular investing is a great way to save and in the markets it irons out the volatility. Starting with €50 a month means you have to find someone, like Quinn Life (or any of the Life companies), as you have not enough to buy a share of fund quoted on the markets - you need a minimum of circa €800 even to deal online (low cost). The difficult of going via an Insurance company is the costs - they are onerous. Alternative is to save until you have €800 and then buy a stock or fund via an online broker, most likely a fund if you are not experienced in stock selection.

Rory Gillen