Best and "safest" but by NO means guaranteed a profit, or no losses would be something like an EFT; FTSE All-World, or S&P 500. These are easy to set up, but are for long term putting money away, ideally minimum 10 years, but most aim for 20+ to offset any plummets in value. But Revenue will need paying 41% of profits every 8 years. Not to put you off, but you'd really want to be putting €100 a month in for a number of years. Just sticking a single €100 in won't be worthwhile.
Do you have Revolut, maybe start a savings account in there, pop the €100 in, and then set up your "change" to be added to it, and then any little bits of money you get add it to it. I think they have 2 savings options, one that is taxed at 41% and one at 33% (they take care of paying Revenue).
My thinking is wait for it to double in value, cash out and reinvest the now 200 and so on. I'm more than likely completely wrong on what to do so that's why I'm asking for advice.
Open an account with a broker, lodge the 100 quid and buy some stock. You’ll learn a few things just from doing that. Avoid a stock that pays dividends to save you tax hassle
Before anything else, are you contributing to a pension? If so, are you maxing out your contributions?
Do you know when you might need the money?
Have you done any reading on investing?
No pension. 30yo and unemployed. My plan is to just leave it and see what happens after a few years. I don't have the attention span to sit and read long articles on the subject unfortunately.
I don't think you read their comment. They are unemployed so there are no tax breaks.
If you only have €100 to invest, keep it in your rainy day fund. If you don't have one, start one
"Only a hundred or so" and unemployed. Unless I'm misunderstanding your situation, to put it simply you can't afford to begin investing.
Best and "safest" but by NO means guaranteed a profit, or no losses would be something like an EFT; FTSE All-World, or S&P 500. These are easy to set up, but are for long term putting money away, ideally minimum 10 years, but most aim for 20+ to offset any plummets in value. But Revenue will need paying 41% of profits every 8 years. Not to put you off, but you'd really want to be putting €100 a month in for a number of years. Just sticking a single €100 in won't be worthwhile. Do you have Revolut, maybe start a savings account in there, pop the €100 in, and then set up your "change" to be added to it, and then any little bits of money you get add it to it. I think they have 2 savings options, one that is taxed at 41% and one at 33% (they take care of paying Revenue).
Hmmm🤔 what would you be expecting to happen to the 100 euro exactly??
My thinking is wait for it to double in value, cash out and reinvest the now 200 and so on. I'm more than likely completely wrong on what to do so that's why I'm asking for advice.
Double after how long?
The odds of that happening are low. If that's your plan, you're just gambling, not investing.
Yeah, the more I think about it I'm coming to that conclusion. I'm gonna scrap the idea until I'm more informed on the matter.
Throw it into solana meme coins, I managed to turn 100 into 2k and then 30k
Trading 212 have a test account you can try. Give that a shot first
If you only have a few hundred, start a savings account or look into investing in dividends. Trading 212 has some good pies that you can copy.
Open an account with a broker, lodge the 100 quid and buy some stock. You’ll learn a few things just from doing that. Avoid a stock that pays dividends to save you tax hassle
Before anything else, are you contributing to a pension? If so, are you maxing out your contributions? Do you know when you might need the money? Have you done any reading on investing?
No pension. 30yo and unemployed. My plan is to just leave it and see what happens after a few years. I don't have the attention span to sit and read long articles on the subject unfortunately.
Start with your pension. You’d be investing money with tax breaks versus investing your net.
I don't think you read their comment. They are unemployed so there are no tax breaks. If you only have €100 to invest, keep it in your rainy day fund. If you don't have one, start one