Issue: New Pilot Scheme to provide advice to distressed home owners by MABS at court house locations.
Comment: The rise in repossessions has raised concerns with the Government, as to whether or not all avenues have been explored, before repossession orders are sought.
To help distressed home owners the Government is piloting a scheme at 12 court house locations around the country (including Galway). MABS will be on hand along with Personal Insolvency Practitioners to ensure that every avenue has been explored before an order for sale is obtained in court.
The more help that people, who are faced with this horrendous scenario can be provided with, has to be welcomed. Changes in legislation are also on the horizon and hopefully will further help the unfortunate people who are in such situations.
Question: I am considering investing in the stock market but have limited experience. Do you think this is a good idea?
Answer: As a rule of thumb you should never invest more than 10% of your available assets. By available assets, I mean any bank deposits/investment funds that you have, but excluding your family home.
Some people have this idea that a particular share, because it is a solid company, would be a secure investment. There is no such thing as a secure investment on the stock market no matter how large the company.
For anyone considering investing, who has no previous experience there is considerable help online and I think it is important that you educate yourself on how the market operates before making an actual investment.