KBC Invest 2019: Steps to invest

KBC Invest 2019: Steps to invest

Interest rates on deposits have been low for a long time, and look to stay that way well into 2019. Everyone should have a savings account or a buffer. But if you have a sum of money that there is not an immediate need for, that is the money you should consider investing

Dara O’Brien of KBC Asset Management explains: “The European Central Bank have signalled that they will not do anything with the rates until well into 2019 at the earliest. Away from headline inflation figures we are seeing the real cost of living for Irish people going up.” He continues: “If you are saving for something that is a little bit further down the line – perhaps to put a child through third level education – if that cost is going to go up by 25-30 per cent over the next five years, and you are earning 1 per cent on your savings, if you keep your money in a deposit account that doesn’t keep up with the cost of living, your money becomes worth less over time.”

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