Should I invest in shares pre or post Brexit?

WackoJacko

Registered User
Messages
24
I am hoping to invest my money from the tracker scandal and was thinking of investing a lump sum in shares. Having no experience in this field i would appreciate any advice given. Or different investment options. Will pre or post Brexit make a massive difference?
 

Sarenco

Frequent Poster
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5,819
Having no experience in this field i would appreciate any advice given.
A better option might be to use the redress/compensation payment to pay down your mortgage or to increase contributions to your pension where applicable.
 

WackoJacko

Registered User
Messages
24
A better option might be to use the redress/compensation payment to pay down your mortgage or to increase contributions to your pension where applicable.
I have advised BOI to keep taking the current amount out of my account (€200 extra) and this reduces my term by 7 years as it currently stands. If I pay off the lump sum (€10k estimation) it only reduces by 2 years. So I was hoping I could invest right and maybe increase this amount to payoff as a lump sum in the future, all going well.
 

Sarenco

Frequent Poster
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5,819
So I was hoping I could invest right and maybe increase this amount to payoff as a lump sum in the future, all going well.
That's really the same thing as borrowing money to invest in shares - not generally a good idea outside of a tax advantaged pension vehicle.
 

WackoJacko

Registered User
Messages
24
So @Sarenco you would recommend paying it off my mortgage balance, nothing else I could double my buck on (I know risk etc)? I've never had a lump sum before that I could possible make something on, I feel like i'd be missing the boat if I just gave it back to the bank. I can't see myself being in this position again. I don't have a pension.
 

Sarenco

Frequent Poster
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5,819
I don't have a pension.
Well maybe you should think about starting one!:p

My suggestion would be to use the lump sum to reduce your mortgage payments (you don't have to reduce the term) and use the additional cash flow to start funding a pension.
 

WackoJacko

Registered User
Messages
24
Ok thanks. I appreciate the advice but I don't believe in pensions (Not looking for a debate on the subject )
 

cremeegg

Frequent Poster
Messages
3,123
So @Sarenco you would recommend paying it off my mortgage balance, nothing else I could double my buck on (I know risk etc)? I've never had a lump sum before that I could possible make something on, I feel like i'd be missing the boat if I just gave it back to the bank. I can't see myself being in this position again. I don't have a pension.
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Squozen

Registered User
Messages
1
Not looking for a debate but could you share your thinking on the subject?
I'd like to understand this as well. I'm Australian so a pension was compulsory for me, but I don't understand why somebody would say 'immediate tax relief of 40% and tax-free earnings? NO THANK YOU'.
 
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