Money Mags
Registered User
- Messages
- 11
I’ve read so much in relation to investing in the past year.
With an eye to the future I’ve a private pension into which 15% of my salary goes monthly.
Pensions are tax efficient but as we all know it’s never a good idea to plough all your resources into one basket. Who knows what could happen that pension pot in the coming decades as a result of myriad uncontrollable variables.
Therefore I’ve been researching where to invest surplus earnings. Obviously (in most cases) clearing down mortgage is one place spare cash will be going.
What disheartens me is the lack of other avenues to receive a satisfying return in this country. Funds, ETFs, Shares, Bonds, Bank Deposits, Property etc……if you do manage to decide on one which will give you very modest returns, after the host of charges and fees, you are then always hit in this country with IMO large tax implications.
I understand the necessity to pay tax on income from other revenues but why so much!?
Surely more money in my pocket is better for the country as I’ll ultimately spend it on goods and services creating jobs? Instead the government take it and add it to the ‘generic tax pot’ and spend it in a manner which does not have the same positive measurable impact. i.e. I’d spend €100 on a meal out, whereas the government would spend that €100 on a report which was reporting on a previous report which reported on a very important report which no one has ever seen!
With an eye to the future I’ve a private pension into which 15% of my salary goes monthly.
Pensions are tax efficient but as we all know it’s never a good idea to plough all your resources into one basket. Who knows what could happen that pension pot in the coming decades as a result of myriad uncontrollable variables.
Therefore I’ve been researching where to invest surplus earnings. Obviously (in most cases) clearing down mortgage is one place spare cash will be going.
What disheartens me is the lack of other avenues to receive a satisfying return in this country. Funds, ETFs, Shares, Bonds, Bank Deposits, Property etc……if you do manage to decide on one which will give you very modest returns, after the host of charges and fees, you are then always hit in this country with IMO large tax implications.
I understand the necessity to pay tax on income from other revenues but why so much!?
Surely more money in my pocket is better for the country as I’ll ultimately spend it on goods and services creating jobs? Instead the government take it and add it to the ‘generic tax pot’ and spend it in a manner which does not have the same positive measurable impact. i.e. I’d spend €100 on a meal out, whereas the government would spend that €100 on a report which was reporting on a previous report which reported on a very important report which no one has ever seen!