Survival guide to outlasting market mayhem
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HOLD your nerve and ride out the storm is the advice if you are worried your about stock market related investments.
Here is a survival guide for those worried about markets mayhem:
n Avoid panic selling your investments. Have a long-term financial goal and stick to it.
n Save on a monthly basis rather than investing lump sums.
This will protect you even if markets fall as your next monthly purchase will buy you more units for the same amount of money, and prove good value when markets recover.
n Review you portfolio regularly and make sure you have the right funds to match your risk profile.
n Make sure you diversify the risk in your investment portfolio by investing across a range of assets such as equities, property, fixed interest and cash.
n If market volatility gives you sleepless nights, then consider other investment options, such as bonds.
n Another option is to start a regular monthly deposit account with AIB, Anglo Irish Bank, Halifax or EBS Building Society.
AIB is paying 7.1pc with the others paying 7pc. AIB only allows a maximum of €300 to be saved each month, but Halifax allows €750 and EBS and Anglo Irish €1,000.
n For lump-sum investments, First Active is paying 5.22pc on amounts up to €15,000, and 4.07pc on amounts after that. RaboBank is paying 5pc on the first €10,000, and 3.75pc on amounts over that.
