Informed Decisions Independent Financial Planning & Money Podcast Podcast79: Saving For A Deposit Over 5 Years.....
Recently we had a few questions from people who were saving for deposits for their first homes. This week we had another, from Daniel (surname not shared for obvious reasons!), who having read our piece about the impact of inflation on deposit values over the medium term has been moved to get in touch and ask us what are the alternatives!
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This is timely, seeing as this week we have also been contacted by Louise McBride, journalist with The Sunday Independent. Louise was seeking our take on what alternatives are available for people who are not content with deposit. While we will cover low volatility investing options in more detail soon I am keen to try to answer Daniel's question. If you are new here then please do check out our 'Why' and we'd be delighted to have you join our wee community of Informed-Decisioners here! We are on a mission to enable individuals to help themselves with their financial futures, and to help them get whatever they want.
In this episode we will explore specifically Daniel's question which was.....'I plan to save for 5 years then buy BUT if the purchasing power of my money could lose 10% (5 years * 2% inflation) am I better off investing in a 'safe' fund with some (almost) guaranteed level of return?'