Ireland’s Best Investment Tips
Ireland’s Best Investment Tips for you depend on your goals and risk profile. But making the right choices is a challenge because there’s no one-size-fits-all approach. This no-nonsense guide explores your options in detail and will help you make the most of your money – whether you’re saving more, looking into property investment, or investing with a lump sum.
It’s no secret that Irish people have a strong preference for saving their hard earned cash in deposit accounts. However, this doesn’t necessarily yield a good return on your investments.
Ireland’s Best Investment Tips: Building a Strong Portfolio
Savings accounts may be a good choice for low-risk lump sum investments but for those with a longer time horizon, shares can give higher returns on investments. Investing in stocks isn’t without its risks, of course, as the market can be volatile. But over the long haul, equities have historically provided better returns than other assets such as bonds or property.
Diversifying your portfolio with stocks, bonds, ETFs, and property helps reduce the risk of big losses. It’s also called’spreading your eggs’. This is because different asset classes have different return profiles and behave differently in the short-term. But when you combine them together like a delicious Irish stew, you get a tastier overall result!
The tax environment is another factor that’s important to consider when determining your investment strategy. A high rate of capital gains taxes (CGT) on disposals of shares and ETFs is one deterrent that keeps many Irish investors from achieving financial independence sooner. Likewise, fund fees are often overlooked but over time they can significantly cut into your investment returns. Fortunately, it’s now easier than ever to access the best broker fees for your investment funds.