Where do you invest €10,000 today?

7th July 2020

Well everyone seemingly has an opinion on this question and will give you a quick answer to it! Well that’s anyone with the exception of a Financial Broker, who is unlikely to give you a quick answer to such an important question. Because what to invest in is not about going with fads or trying to pick a winner as you might in a horse race. Instead finding the best investment opportunities needs to based on a very systematic approach and on your own particular circumstances. And that’s where a Financial Broker will help you.

Your Financial Broker will first look to become crystal clear on your investment objectives. Why are you investing? What is your end goal for the money? What is your investment timeframe? It’s only when they get clear on these type of questions that they can start to even think about what to invest in. Investing money in Ireland today is full of opportunities and pitfalls, it is really important that your Financial Broker understands your objectives fully first.

Understanding your attitude to take risk is the next essential step in determining the best investment for you, because what might be considered the best investments in Ireland may not be the right investment for you. At the end of the day, we are all different when it comes to what we consider acceptable risk in relation to our investments. For some people, they want to always get back at least their investment amount after a set period of time, even if this means lower potential returns. For others, they want to aim for the maximum possible returns and can happily sleep at night even if they risk losing some of their money. Your Financial Broker will ask you a series of questions that will help you to determine your personal appetite for risk (are you happy to take risk or not?) and also your capacity to take risk (can you afford to take risk or not?). This will guide them further towards the right investment opportunities for you.

Your Financial Broker will then want to know your full financial circumstances to see where your investments sit in your overall financial affairs, as this may also shape the suitability of individual products.

When they have all of this done, your Financial Broker will then research all of the best investments in Ireland to find the one that suits you. Unlike a bank or life assurance company salesman, they are not tied to advising in relation to the products of one company. They will find the best product to meet your objectives, one that fits with your attitude to risk and that also suits your specific personal circumstances.

So back to the question of where do you invest €10,000 today? We still can’t tell you the answer, but using the services of a Financial Broker will ensure that you end up getting the best result for you.