What to do with 4,000euro- It's not SSIA money

J

joey54

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I've recently received a lump sum of 4,000euro and don't know what to do with it. Is there anything I could put it into which would be safe but at the same time earn a little extra. I would be unable to add more money to it each month and I think this would effect the the interest you get certain deposit accounts. If anybody has any advice it would be greatly appreciated. Thanks

Jo
 
What are your eventual plans for the money and when do you think you'll need it.

If you plan to keep it locked away for more than 5 years, I'd put it into a low-charges equity fund such as Quinn Lifes where you can add to it each month.

If you need it in the next 1-2 years, your best bet would be to open an account with Rabodirect and lodge it there.
 
With Rabo you can have some of it on deposit while some of it is in funds purchased through rabo.. That's what I am doing with a few grand at the moment and I'm very happy with it.. It's really easy but the only problem I see with it is, its hard to value the price of the fund or where it is going because each company in it has such a small amount of influence over the price..
 
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