Thinking of Investing E6000

billstraighten

hello all,
i have roughly 6000 lying in a post office account, doing nothing for me, and i have money elsewhere, that i can use, in case of emergency etc etc.
And i am thinking of investing 5000 into an Allied Irish bank term deposit account, for five years,so that a return is guaranteed, if my calculations are correct i will get roughly 930 after DIRT.

With the other 1000 euro i was thinking

500 euro on dollars and 500 on sterling

Anyone any feedback or suggestions on my thoughs

Thanks a lot

-Billstraighten

Nordwind

Just out of interest, do you currently have any debts? The reason I ask is because I intend on opening up a new savings account soon but have some outstanding debts and I've been advised to pay them off first before saving.

billstraighten

No, no debts, just a student working part time getting good money from it

portomar

theres a few threads on here, recently the one below "how low can he dollar go" about currency, my opinions for whatever they're worth can be found there!

Minder

billstraighten wrote: »

500 euro on dollars and 500 on sterling

Anyone any feedback or suggestions on my thoughs

Forget the currency plays and stick 1000 yoyos into a Silver ETF, with the proviso that you do nothing with it for at least 12 months. Silver is recently overbought and should drop a dollar or two in the coming weeks - watch for that as a buying opportunity. Barclays have a silver ETF

Mikel

It depends what your tolerance for risk is. How much will you regret it if you lose money? Term deposits are around 5% fixed for a year so measure everything against that, after inflation thought you'll probably break even.
Lots of people have pet ideas about gold, silver, the dollar etc etc etc, but they don't know anymore than you do.

If you're going to put it on something that you know nothing about, you're having a punt plain and simple. No different from the bookies or the casino. Then again, you might get lucky.
You'll see a lot of hype about commodities at the moment, that's another bubble just like equities and property. It's a game of pass the parcel, so if you got out before the end you could be ok.

Having said that, the best indicator of when a bubble is about to burst in when ordinary joes are getting involved, gold and silver spring to mind....

Short answer..... nobody knows

billstraighten

Grand thanks for the feedback etc, i have no real interest in buying commodities,
the only reason i really wanna invest it in a term account, is cause for the last year it has been doing nothing (interest wise) and i wont need the 5000 for the next few years

about the dollars and sterling, i was thinking of just having them with the option of making some money down the road, if not, i can always head to london or NY

Kiya

ur best bet would be to pop into the bank & have a chat with the financial advisor there.
theres some good funds out there that you could invest into, but only do it if youre interested in leaving the money in it for 5 years plus.
that way youre riding out any lulls in the market.
good luck!

snubbleste

How does a novice individual buy an ETF?
Who to approach?