alwaysonit
Registered User
- Messages
- 137
Age:
27
Spouse’s/Partner's age:
n/a
Annual gross income from employment or profession:
€40,000 but varies
Expenditure pattern:
Save more than I spend
Rough estimate of value of home no property
Other borrowings – car loans/personal loans etc
None
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
All in domestic banks on demand earning the maximum interest from CiaranT’s best buys thread while keeping below the deposit insurance limit in each bank.
Do you have a pension scheme?
No
Do you own any investment or other property?
No.
Ages of children:
None.
Life insurance:
No
What specific question do you have or what issues are of concern to you?
I am not a tax resident of anywhere (but am an Irish citizen) and I feel I could be doing better than earning circa 1% p/a after DIRT seeing as I can invest somewhere with no withholding tax legally. It seems impossible to change my Irish bank accounts to non-resident, I have tried.
I’ve looked at foreign bank accounts paying high interest on hard currencies while keeping below deposit insurance limits in the specific countries but most people on this and other forums think this is a poor long term investment. http://www.askaboutmoney.com/showthread.php?t=187709
Recently I have been reading other forums such as mrmoneymustache where most people seem to invest everything in ETFs. I don’t know much about this and it seems that I can’t invest in an ETF without paying at least 1% fee per annum, rather than the 0.17% Americans can pay with Vanguard.
I have no commitments anywhere and have no idea which country I will eventually settle in but settling seems light years away to me at the moment, so property investment might not be the best idea.
So in summary, I’m young, don’t have to pay taxes to revenue, have half a million Euro and it’s only making me about €5,000 a year. Help me make my money work for me! Thanks.
27
Spouse’s/Partner's age:
n/a
Annual gross income from employment or profession:
€40,000 but varies
Expenditure pattern:
Save more than I spend
Rough estimate of value of home no property
Other borrowings – car loans/personal loans etc
None
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
All in domestic banks on demand earning the maximum interest from CiaranT’s best buys thread while keeping below the deposit insurance limit in each bank.
Do you have a pension scheme?
No
Do you own any investment or other property?
No.
Ages of children:
None.
Life insurance:
No
What specific question do you have or what issues are of concern to you?
I am not a tax resident of anywhere (but am an Irish citizen) and I feel I could be doing better than earning circa 1% p/a after DIRT seeing as I can invest somewhere with no withholding tax legally. It seems impossible to change my Irish bank accounts to non-resident, I have tried.
I’ve looked at foreign bank accounts paying high interest on hard currencies while keeping below deposit insurance limits in the specific countries but most people on this and other forums think this is a poor long term investment. http://www.askaboutmoney.com/showthread.php?t=187709
Recently I have been reading other forums such as mrmoneymustache where most people seem to invest everything in ETFs. I don’t know much about this and it seems that I can’t invest in an ETF without paying at least 1% fee per annum, rather than the 0.17% Americans can pay with Vanguard.
I have no commitments anywhere and have no idea which country I will eventually settle in but settling seems light years away to me at the moment, so property investment might not be the best idea.
So in summary, I’m young, don’t have to pay taxes to revenue, have half a million Euro and it’s only making me about €5,000 a year. Help me make my money work for me! Thanks.