Moneycube exists to get Irish people investing.  So here are 5 questions to ask yourself if you’re diving in for the first time

1. What do I want out of investing?

Sure, the purpose is to grow your wealth – but why, and how?  Some folk are in for the thrill of the hunt, some for steady growth over the long term.  Others are driven by the sheer frustration of watching their savings erode at the bank due to inflation.

At Moneycube we focus on steady growth via diverse investment funds.  But it’s not wrong to add exposure to individual companies or industries which you have an interest in for a portion of your cash.

2. What am I investing for?

The purpose of your savings has a major effect on the route for your savings.  Are you building up funds for your next holiday, or for retirement?  A bank account is likely the right place for the former – whereas for retirement there are a number of tax-efficient ways to give your money a better chance to grow.  In general, investing needs a timescale of several years.

3. What risk can I bear?

You need to be able to sleep at night.  Investing comes with no guarantees – just a great long-term track record.  And typically, the more risk you are willing to take, the greater the chance of strong investment returns over time.  The level of risk you are prepared to bear is a combination of your financial position, your timescale, and your attitude to life.

4. Do I have a safety net?

An essential part of investing is giving your money time to work.  So you’ll likely want a separate pot of money you can dip into for unexpected costs.  And if you have expensive debt like a credit card or overdraft to pay down, that should almost certainly be the focus for your spare cash right now.

5. How am I going to do it?

Investors come in all shapes and sizes.  Before you invest, consider how much time and energy you want to devote to managing your money.  It can be anything from a full-time job to ‘buy-and-forget’.  Right here, our specialty is ‘buy-and-remember’, with real-time access to your investments through our online platform.

So, is it time to dive in?


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By investing €250 a month you could save €17,400 in 5 years

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