Goodbody Stockbrokers is working hard to convince more people to invest in the stock market. In an in-depth report, which researched the growth in share-ownership in Ireland, it found that just 13 per cent of the adult population hold shares and it is predicting that this figure will rise sharply after the Telecom Eireann flotation next month. In the current low-interest rate environment there is little doubt that anyone who can afford to take an element of risk on board, and who is prepared to tie up their funds for between three and five years, should consider an equity-based investment.

The banks and building societies are all offering tracker bonds, Personal Equity Plans and unitlinked funds which allow you to put your savings into the stock market. These can be very attractive and offer a relatively hassle-free way of investing in equities. They do incur hefty fees and it is always worthwhile shopping around for the most competitive deal.

If you are feeling braver, though, you could pick your own stocks and instruct a broker to buy them for you. When asked how much money an investor should realistically have before taking on such a role, Goodbody's says, in theory, you could start your own investment portfolio with around £10,000 (€12,697).

Goodbody's suggests you could pick three or four blue chip stocks for that amount. Judging from its report, you would really need to have at least £50,000 to retain a stockbroker's services. With that amount to invest, you would benefit from the firm's equity research which will help you manage your portfolio to maximum effect.