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Your personal finance questions – With a possible recession on the way, is now a good time to invest some spare funds ?

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Q I want to invest between €10,000 and €12,000 instead of it sitting dormant in my current account. Is it a good time to invest seeing that we are potentially facing a global recession? I know we need to ride out the storm so I am committed to a five to 10-year investment horizon.

A It is impossible to recommend specific investments to anyone without knowing a lot about their financial circumstances, said Liam Ferguson of financial brokers FergA.com. An investment that might be suitable for you might not be right for your neighbour. Before thinking about moving money out of a current account into an investment, look at the alternatives first. Have you maximised tax relief on pension contributions? Have you paid off all expensive debt, like credit card debt? If not, give those priority, Mr Ferguson said.


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