Smarter Saving’s with

Author: Gavin O’Sullivan

As Irish people we are good to save, very good I would I say, no problems that way but are we saving ‘Smartly’?. With Billions of Euros on deposit in Irish Banks/Credit Unions and Post Offices I would question if we are. During a time of Low Interest Rates and High Inflation having this amount of money sitting in deposit accounts seems crazy to me, be aware there are alternative options. 

Deposit accounts are convenient as you can get access to your cash when you need it. I would always recommend to clients to have a deposit account in the Credit Union /Bank /Post Office to hold their emergency fund (3 – 6 times net monthly income would be what I often advise) but also for saving for short term goals such as buying a house within the next few years, paying for a wedding, paying off some high interest debt etc. The message I would always have for my clients is yes save money in a deposit account, but you should also be investing a portion of your savings in order to get a return. , The Online Savings Account was set up in March 2022 and since then we have helped many people to invest their savings Smartly. We have sat down and identified a portion of there savings that they would be willing to invest, and we have put a plan in place for them. Typically, our clients invest for long-term goals that are a minimum 5/7 years away. The longer you keep your money in investments, the more time you have to ride out the highs and lows of the stock market and get a greater return on your hard-earned income. If you have an established emergency fund as previously mentioned and can afford to be patient, it makes more sense to invest some of your funds. Investments can be helpful for significant expenses that occur down the road. Of all of our clients that have come to us through the most popular are young professionals who have just had kids and want to save for their kids’ education. A long-term investment can offer a greater reward than just saving into the credit union in this instance.

Ultimately, investing involves taking on some level of risk in pursuit of potential returns. While there are no guarantees in investing, historically, investing in a diversified portfolio of stocks, bonds, and other assets has provided attractive returns over the long term. With our clients we carefully consider your individual circumstances, goals, and risk tolerance before any investment decisions are made. At the consultation stage all our investment clients will take what’s called a Risk Profile Questionnaire which will give us an idea what one’s tolerance to risk is and with these results we can guide the conversation around the fund choice. 

The savings plans we set up for our clients generally start from €100 per month and can be increased at any time. Often what we find is our clients will also put in a lump sum (We would recommend minimum €500) to their plan but will also add lump sums over time. By investing regularly, you can avail of the compound effect on your funds. Compounding is often referred to as the “eighth wonder of the world” because of its remarkable ability to turn small investments into significant wealth over time. It occurs when the gain on an investment is reinvested, and then that reinvested funds earn additional gains in the subsequent periods. It emphasizes the importance of starting to invest early and allowing your investments to grow steadily over the long term. The longer your money has to compound, the more powerful the effect becomes. 

Starting your savings plan early and being consistent is essential. Having a Long-Term Goal in mind will help you stay disciplined, and I would always recommend to clients is to start with a lower premium and increase it over time. Our clients will generally invest in Multi Asset Funds that diversify between the various asset classes which is important. Clients of will receive a yearly statement and the opportunity to review how their investment is performing. 

‘You work hard for your money so let’s make your money work hard for you’

If you would like to discuss more about Savings or to find out more information visit  , email or Call 022-42466.

By Gavin O’Sullivan BBus., Msc., APA., QFA .,RPA.,SIA.,FPRA  


19,West End,
Co. Cork 
P51 KX77
Office: 02242466
Mob: 086 785 1511
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Bells Cross Capital Limited trading as BARRY-JOHN RYAN FINANCIAL PLANNING is registered in the Republic of Ireland, registration number 656922 at 19, West End, Mallow, Co. Cork. Director: Barry-John Ryan.Bells Cross Capital Limited trading as BARRY-JOHN RYAN FINANCIAL PLANNING is regulated by the Central Bank of Ireland.

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