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Guaranteed Equity products

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  • 03-04-2007 2:42pm
    #1
    Colonel Sanders
    Closed Accounts Posts: 7,669 ✭✭✭


    My SSIA is about to mature and I have some savings built up. Add in the fact I have a new job paying me more money means I hve a decent sum of money to invest. It is currently sitting in a savings account earning just over 4%. I put as much as I can into a 7% regular saver account each month and make up the maximum allowed from my savings (just see this as a process of moving money from one account to another with a higher interest rate). As I am relatively young I could possibly afford to take some risk with my cash. I am not very risk seeking so that why GEPs caught my eye. Does anyone have any info on different providers GEPs and whose have performed best and have the most competitive tie up periods and fees?

    thanks


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    #2
    A Random Walk
    Closed Accounts Posts: 346 ✭✭A Random Walk


    This class of product tend to produce high fees and low returns unfortunately - you have to risk money to make money. The biggest risk to your money right now is inflation and it can be easy to forget that. I would look into investing a small monthly amount into equity based funds (Quinn & Rabo are two I would look at, preference for low fees of Quinn). This should be money that you can afford to not touch for 5 years, and you're probably best to invest and not spend too much time worrying or celebrating if your fund goes down or up.


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