Aideen Finnegan

So you're here to discuss the Minister for Finance, Simon Harris's utterings about a state savings and investment scheme.

And there's been a few dribs and drabs.

And we know that he plans to unveil the scheme in October in the budget.

And I guess there might be a question mark then about when it actually comes into effect.

Can I just get one question out of the way first before we dive in?

Do you remember Charlie McCreevy's SSIA scheme in 2001 to 2007?

Whatever you managed to save in that time, the government would top it up by 25%.

So kind of like free money.

Will this scheme be that?

Okay.

So when you mentioned there about the Swedish model where you put your savings into this vehicle and then it's invested.

Do you do that or does like a bank or a life company do that on your behalf?

Is it a bit like your pension you pay in and you're letting someone else manage it?

Okay.

And is that how they do it in Sweden or in the UK with the ISA accounts?

For the most part, yes.

So are there risks?

That's the big thing I've taken from all the chats I've had on the podcast about investing, including yours.

It's like, just leave it alone.

Say goodbye to that money for a while.