What to do with savings

[Ainneh]

Hi,

soon I'll receive some sum of money, nothing big, and I want to invest or put somewhere that will be save and can get something in return.

Acctualy I don't know what to do with it but definately don't want to sepnd it all adn this will happen if I'll have some easy acces to it. what optios are there?Bonds?

Not really into financial world and knowledge so will appreciate some advise on options that I might have.

Thanks

 

[Steven Barrett]

There's lots of things that you can do with it.

The first thing is do you have an emergency fund? Cash put away just in case the car needs to be fixed or the washing machine packs in?

After that, I would advise a diversified portfolio, as not everything goes up and down at the same time. How much is made up of all the different asset classes depends on what return you are looking for and what your risk profile is. If the returns you are looking for are outside your comfort zone, there will have to be a trade off. No point in investing it and be worried about it.


Steven
www.bluewaterfp.ie