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How to invest €10k in Ireland

Got €10k to invest? Check out our top picks for the best investments you can make from Ireland.

If you’ve got €10,000 and don’t know what to do with it, we’ve got you covered. With these top investment ideas, you can find the best place to invest 10k in Ireland.

How to find the best place to invest 10k in Ireland

The more disposable money you’ve got, the more options you’ve got, and with €10,000, you’ve got plenty of investment choices at your disposal. Here are some of the best ones to take advantage of right now.

1. Invest in an index fund

Why it’s a good option now: The stock market keeps setting record highs despite the ongoing COVID-19 pandemic. The S&P 500 has grown about 96.84% since March 2020 and 20.79% in 2021 alone. Likewise, the Nasdaq Composite has climbed more than 122% since March 2020 and almost 19% in 2021.

Index funds are designed to track and achieve roughly the same return as a particular market index, such as the S&P 500 or the Nasdaq Composite. It does this by investing in the securities of companies included in the selected index. And since index fund managers only need to track a fixed index of securities, management is more passive, resulting in fewer fees and expenses passed on to the investor.

What to watch out for: While investing in an index fund gives you the upside when the market is doing well, you’re also vulnerable to the downside when it’s underperforming. Since index funds invest in many of the same securities as the index it’s tracking, the fund will be subject to the same risks as the securities contained in the index. So if a company included in the fund becomes overvalued or undervalued and you’re invested solely through an index, you won’t be able to adjust your exposure to that particular stock.

You should also be aware of a fund’s track record and fees. You’ll find both mutual funds and exchange-traded funds that track indexes, but generally lower fees and minimums make ETFs attractive at this investment level.

2. Work with a human financial advisor

Why it’s a good option now: The pandemic has been tough for many people, and your financial situation may have changed drastically from where it was just a couple of years ago. Even in normal circumstances, properly managing your money and investments and making the right financial decisions takes time, skill and discipline.

Bringing on a financial advisor to get educated about your investments, retirement plans and wealth management options can be a great investment if you don’t have the time or interest to do it yourself. Financial advisors typically charge either an hourly fee of between €100 and €300 or a fixed fee to implement and maintain your financial plan. This can be anywhere from €1,000 to €3,000.

What to watch out for: Trust is key, and not all advisors are held to the same standards. So do your own due diligence to make sure you’re hiring someone you can trust. Ask plenty of questions, and be aware of any advisor that prioritises their paycheck over yours.

3. Invest in baskets of growth and value stocks

Why it’s a good option now: If you prefer not to invest in an entire index, you can try stock-picking by choosing growth or value stocks. This strategy works best for experienced investors who are familiar with both macroeconomic factors and the performance of individual securities. Investing in the right types of stocks during different stages of the economic cycle could help you maximise your stock gains.

What to watch out for: Inexperienced investors might not have the knowledge to pick certain stocks that could beat the general market performance. If you’re new to stock trading, you might want to start with an index fund instead.

4. Consider alternative assets

Why it’s a good option now: Alternative assets like cryptocurrencies offer gains beyond the traditional stock market. You can experiment with different types of crypto assets too, like Bitcoin ETFs.

What to watch out for: While alternative assets like cryptocurrency could bring you high gains, they could also result in massive losses. Watch out for volatility when trading these types of securities.

5. Ladder CDs

Why it’s a good option now: A certificate of deposit, or CD, is a savings vehicle that allows you to save a fixed amount of money over a fixed period — while earning interest. This can range from a few months to five years. Competitive CD rates are usually at or above the rates you’ll find with a high-yield savings account, usually between 0.5% and 0.8% APY, depending on the term you choose. A CD ladder is a savings strategy that allows you to spread cash equally between multiple CDs to take advantage of the highest rates while also freeing up money in shorter intervals. With €10,000, it could work like this:

  1. Open five CDs between one- and five-year terms and deposit €2,000 into each one.
  2. As a CD matures, reinvest that money into a new five-year CD to continue earning the highest rate offered.
  3. Continue as long as you want to keep your money invested in CDs.

If rates go up, you can take advantage of the higher rates when a CD matures. Since CD rates are locked in for the duration of the term, a drop in rates won’t affect your return. If rates are too low for you when a CD matures, you don’t have to reinvest it in CDs.

What to watch out for: CDs lock up your money for some time, so they aren’t as liquid as sticking your money in a high-yield savings account. If you withdraw your money before the term expires, you might get hit with an early withdrawal penalty.

How €10,000 can grow

With €10,000 to invest at once, you have any number of options and may want to consult an investment pro. It’s not a fortune but over time it can be substantial. Here’s a look at how it might grow in three common investment classes.

€10,000 saved or investedSavings accountBondsStocks
1 year€ 10,100€ 10,600€ 11,000
5 years€ 10,510€ 13,382€ 16,105
10 years€ 11,046€ 17,908€ 25,937
15 years€ 11,610€ 23,966€ 41,772
20 years€ 12,202€ 32,071€ 67,275
25 years€ >12,824€ 42,919€ 108,347
30 years€ 13,478€ 57,435174,494

For this table, we assumed a 1% annual return on savings in a bank account, CD or money market fund (which is optimistic these days); an average 6% return for bonds or bond funds; and 10% on stocks, the market’s long-term annual return. Bond returns vary widely based on bond types, and the stock market has down years while individual stocks can go to zero. So consider these benchmarks only and consider risk as well as return.

Before you invest

Before you decide on the best place to invest 10k in Ireland, consider these other money moves as well:

  • Put it toward a down payment for a house: If you’re getting ready to jump into the real estate market, consider putting the €10,000 toward a down payment.
  • Add sweat equity to your house: If you currently own a home, €10,000 is a good chunk of money that can be put toward improvements or expansions that increase your home’s value.

Other investments to consider

Not all the investments listed in this article will be right for you, so here are a few more investments to consider:

  • Start or grow a business: According to recent estimates, microbusinesses cost around €3,000 to start. This can vary depending on the type of business and whether it is based in a physical location or online.
  • Build out your home office: If you work from home full-time, consider investing in building out your ideal workspace. Having the right desk, chair, computer and other technology can do wonders for productivity.
  • Free your time: While you don’t need to drop the entire €10,000 to accomplish this, freeing up your time so that it can be used on more important matters can be a worthwhile investment. If you can hire a cleaning service to clean your home, you can spend that time working and making more money. And if you can make more than what you’re spending on the help, then you’re coming out on top.

Compare investment platforms in Ireland to invest €10,000

1 - 6 of 6
Name Product Brokerage Fee Markets What you can trade?
IE stocks: No

US stocks: $0
Stocks, ETFs, Currencies, CFDs, Indices, Commodities, Cryptocurrencies
Investing carries a risk of loss
Trade more than 1,000 stocks globally with eToro's social trading and investment platform
Saxo Markets
IE stocks: €12

US stocks: US$7
Stocks, ETFs, Options, Futures, Bonds, Currencies, CFDs, Commodities, Cryptocurrencies
Investing carries a risk of loss
Saxo Markets provides an online platform for trading stocks, shares, CFDs, and forex around the world
IE stocks: €2

US stocks: $0
Stocks, ETFs, Funds, Options, Futures, Bonds, Cryptocurrencies
Investing carries a risk of loss
Degiro's platform can help new and seasoned investors access 50+ global exchanges with low fees
Zacks Trade
IE stocks: No

US stocks: US$1
Stocks, ETFs, Funds, Options, Bonds
Investing carries a risk of loss
The Zachs Trade platform offers stocks, ETFs, bonds, options, and more with access to more than 90 exchanges worldwide
Freedom Finance
IE stocks: €2

US stocks: US$2
Stocks, ETFs, Options, Futures, Bonds
Investing carries a risk of loss
IE stocks: No

US stocks: €0
Stocks, ETFs, Currencies
Investing carries a risk of loss
Access thousands of the world's leading indices, commodities, cryptocurrencies and shares on a single platform.

Compare up to 4 providers

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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