Prendagast Maguire

Independent advice

Because Prendergast Maguire is not tied to any one provider you get free, impartial guidance that suits your financial needs

from experienced experts

Our unrivalled knowledge of money matters means Prendergast Maguire clients get the right product at the best price

delivered in the Wicklow way

Prendergast Maguire service is personal, meaning we don’t hide behind jargon and are always on hand to call out to your home

Savings & Investment Plans

It could be the deposit for a first home, for your children’s education, to start-up in business or just for a rainy day. There are plenty of reasons why you might want to start saving in a serious way, and a multitude of ways of growing your money to achieve your goal.

In fact, Prendergast Maguire has access to more than a hundred savings and investment plans, managed by some of the most astute fund experts in the business. Choosing which is the right one for you will depend on three factors:

  • The level of risk you are comfortable with. History shows that investing on the stock or bond market offers better returns than a regular deposit account, particularly once inflation and DIRT tax have eaten into earnings.
    Your capital may be exposed to potential losses as well as gains but, with our help, you can either create your own portfolio or choose a ready-made investment plan that suits your risk outlook.
    Hold out for double-digit growth with equity or property funds. Play safe with lower yielding tracker bonds that offer 100% capital protection. Or spread your risk by picking a basket of funds and switch them around whenever you want.
  • How long you plan to save for. Most investment plans require you to save for at least five years and, because you are re-investing the annual earnings, you effectively get a better rate of interest the longer you save.
    To put it another way: if you invested €200 every month for 19 years, and your investment earned 8% annually, you could end up with a fund of over €100,000. To achieve the same goal over a shorter nine-year term, you will have to save over €600 a month, or three times as much.
  • The way you want to save. If you’ve won the Lotto, come in to an inheritance or just been handed a redundancy package, you can take out a lump-sum investment plan with the initial capital typically starting from €10,000.
    Alternatively, regular saving plans are designed for investors who prefer to make payments every month, normally for a set term of at least five years. The agreed amount can be as little as €50, and early withdrawals are often allowable, albeit with a charge.

While stock markets have continually delivered growth over the long-term (studies show they have a 73% chance of being up in any given year), we always advise that the value of investment plans may go down as well as up, and can be affected by changes in currency exchange rates.