There are 2 key things to consider:
1. When would you like to access your money?
One of the most important things you need to think about is when you need access to your money. This will help determine the type of investment you choose.
If it’s within the next 5 years:
- You may want certainty on the amount of money at your disposal
- You will probably need easy access to your money
If this is the case, the best home for your money is typically some form of deposit. We have a great range at Bank of Ireland. Find out more here.
If it’s longer than 5 years:
You may want to consider assets such as company shares and property which could potentially provide better returns than deposits in the longer term.
Bank of Ireland Life has a range of investment solutions which provide exposure to these assets.
2. What degree of risk are you comfortable with?
Every investment involves you taking some level of risk. Deciding what level of risk you are comfortable with is crucial, as your appetite for risk will influence the type of funds that you should invest in.
We have 7 risk categories:
- Very Low Risk
- Low Risk
- Low to Medium Risk
- Medium Risk
- Medium to High Risk
- High Risk
- Very High Risk
As a rule of thumb, options that offer the most potential for growth also have the highest potential for loss.
Our expert advisors will take you through a questionnaire to gauge the level of risk you are willing to comfortably expose your money to.