You should always look under the bonnet of any fund you are considering investing in – not just in relation to the risk the manager might be taking and the size of the fund, but whether its inclusion in a portfolio is justified relative to your risk profile.”
You should also always talk to an Independent Financial adviser as he will do a risk questionnaire on you and you will receive a risk profile which ye can then go and look at funds suitable for you.
Be careful doing lump sum investments or savings with banks as they are tied agents and your not getting a full view of market funds.
Before choosing an investment fund, understand exactly what kind of tax bill you’ll be hit with on any money you make. At the minute it’s 41% on any profits made on the funds.
With equities relatively low with the current pandemic it’s an excellent time to invest in a savings or investment plan as you are buying units at a very low price and when things grow again so will your savings(on average banks will only give you 0.50% per annum and some have now actually started to charge you for saving with them)
Irish life and Zurich have a multiple portfolio of funds which have returns of between 6-12%per annum with environmentally friendly funds returning even higher.
Even if you leave your funds invested in the lowest risk funds you will still get approx. 3/4% per annum as opposed to .50% with most banks.
Get your money out of your deposit banking a/c ASAP.
Email me on darragh@helpmypension.ie or call 086 8929232 for any advice you need on these savings.
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