Savings and Investments
With saving and investment plans you can save regularly or invest a once off lump sum. With bank interest rates at an all-time low it is more important now than ever to ensure you are making the most of your money and planning for your future spending needs. We will profile your risk and research the market to find the best policy to match your needs.
How Savings and Investments work:
Think of your salary. Think of how much you could put away if you were really focused on saving as much as you could. Imagine putting that amount away for five years. There is lots you could do with that money, but what would you do with more?
Most people put their savings into a regular savings or deposit account in their local bank. That will give you a predictable, low rate of interest. You get a little extra on top of what you put in. But when you invest your money in a fund, that little extra on top can become a lot extra. Funds aim to grow your savings faster than interest rates offered by regular savings accounts.
You can find funds with steady consistent growth, and funds that offer more potential for higher long term gains. The higher the potential for growth, the higher the risk of the fund, and your investment could go up or down, but with careful management, you can build a portfolio of funds geared towards your goals matching the level of risk you want to take. Unlike a deposit account, you have control over how your money is invested and how hard you want it to work.
You don’t have to be a millionaire or an expert to use funds to grow your savings. You just need to talk to a trusted financial broker or adviser and start imagining what you could do with more money. Let us help you!
Starting to save: Now is the perfect moment to start saving for somthing special, for a great future. It’s simple and hassle-free to find the right way to save or invest your money.
Here’s how we can help you:
We will help you set your goals: What are you planning to save for? Take some time to draw up a ‘wish list’ of the things or experiences you would like be able to afford. Now prioritize that list – you can’t do everything at once! Perhaps you’d like to buy a new car? Or maybe you’re planning the holiday of a lifetime? Saving for a ‘rainy day’ or your children’s education might be top of your list.
Do the math: Whatever they are, it’s important to have clear goals to work towards. It’s also key to figure out how much it will cost to turn each goal into a reality. Do some research and find out roughly how much money you’ll need to save up. Perhaps you have a lump sum you wish to invest, that you can combine with your regular contributions.
Plan your Budget: The next step is to figure out your monthly budget. You need to decide how much money you’ll put aside each month to help you achieve your goals. Use our handy budget calculator to figure out how much you can realistically afford to save each month, along with your other outgoings.
Choose your Savings plan: Next, you need to find the right home to grow your savings. We offer a great range of savings and investment products to suit all kinds of savers. We can even create a tailor-made plan to suit your needs. Then all you need to do is add to your savings each month and soon you’ll be ticking off those wish list items. Once you are clear on the reason why you’re saving and how long you wish to save for we can help you select the saving plan that suits your needs.
For Example: With an Easy Access Savings Plan you can gradually build up the funds necessary to support your children’s education. If you saved the Government child benefit of €140 per month for five years (as of January 2016) from when your child was born, by the time they started school you could have built up savings of €9,277 in time to fund this crucial stage in their education.
Investments: Investing a lump sum is a great option if you want an opportunity to grow your money over time. We offer access to funds with varying levels of risk and return. We can help you open up the world of investments. If you’ve acquired a lump sum, through earnings, inheritance, or redundancy, there are lots of options available to you. You can spend the money, or save it for a future expenditure. You can also decide to grow this lump sum, by placing it in an investment bond. Depending on the type of fund you invest in and the level of risk you’re prepared to take, you can see your capital grow over a period of time.
Regular saving is a great way to build up money over time to meet your financial goals. If you have already built up a lump sum, then investing could be a good option for you. You may stand to earn a greater return by investing in a fund rather than a cash deposit account.