Q. At 29 years of age and single, I have managed to save € 27,000 over the last three years but am at a loss as to what to do with it now. Deposit interest rates are low and getting lower. I have also missed the boat on bitcoins…plus there is uncertainty in the stock market…There has to be something better than deposit interest out there while at the same time having a reasonable amount of safety attached. Any ideas ? James – Portarlington Co Laois
A. Thanks James – yes you are right deposit interest rates are not going to make you rich anytime soon. Best demand currently is 0.75% before DIRT tax (An Post Money ) while NTMA’s National Solidarity Bond available in post offices and online is the best of the deposit investments albeit at 22% tax free after 10 years. The capital is guaranteed as is the interest by the government but it still only equates to a gross rate of 3% every year for those 10 years – not exactly exciting. Bitcoins/cryptocurrencies are a pure gamble and only invest in them if you can afford to lose ALL your money. As regards the stock market yes these are turbulent times but remember it is still the best asset class of them all – Warren Buffet summed it upthe stock market is a mechanism for transferring wealth from the impatient to the patient. You could of course invest in art, philately, numismatics, commodities such as gold, even rock ‘n roll memorabilia ( I am a fan ) to wine investment – at least you can drink this if it fails !. It does not have to be a property or deposit investment… email me for stock market options.