There's definitely scope for a thread type that isn't Money Makeover, but is more 'help me plan for retirement'. Where you post your pension situation, your other financial positions and then all your questions (both financial and lifestyle) about planning for retirement.
I don't think it will be means tested.
I do think however that the current very generous rates will come under threat as the ratio of working to retired people skews over the coming decades. It's inevitable.
Your hypothetical 150k pension earner will pay taxes in retirement that are a multiple of the OAP. And presumably paid far more during their working life.
It's a universal benefit (like Child Benefit) and should remain as such.
No, contractor advised we didn't need it. Experience to date would suggest he was right!
Pretty good, think about €650 for the last 4 months in total which would presumably be the peak months for usage. Family of 5.
The house has been very cosy all winter - we probably keep the thermostat lower than most at 18 degrees upstairs and 19 down. The airflow has been good too, never any 'staleness' in any of the rooms.
Very glad we did this!
I don't remember them breaking it out between worktops, cabinetry etc to be honest - Mrs Truffade handled the kitchen.
The appliances were approx 7k if I remember right.
To be honest, easiest thing to do is go to one of the kitchen companies and get them to quote you. It's free and will give...
It would be interesting to see some graphs of ARF performance vs withdrawal rates over a prolonged period of time.
e.g. how much does investment performance offset the distributions from the ARF
I'm sure there must be plenty of people who retired a decade ago whose ARFs are now worth more than...
Absolutely. Although the scenario above is definitely of the Good Problem variety!
I work with people who probably earn in the range of 120-200k and, on the odd occasion when the topic of retirement comes up, I've been flabbergasted by the (very large) retirement incomes that people assume...
I think this is a great point.
If you've been getting killed paying 52% tax (PAYE+PRSI+USC) as a higher rate earner during your working life, why on earth would you want to replicate that in your pension years?
Surely, for an Irish person, the trick would be to have an optimal mix of (a)...
isn't the real problem that the jump from 20% to 40% is much too steep, and that we should have a middle rate of 30%?
40% + PRSI + USC - making a total marginal rate of ~50% is way too high on relatively modest incomes
How many kids do you have and what are their ages?
Your financial profile is scarily similar to mine, except I don't have a BTL and my pension is larger!
OK, we are just about done now. Final set of workmen arrived this morning and are doing upstairs flooring\doors\skirting etc.
The final cost is going to come in at about 178k.
Breaking down as:
Kitchen: 25k (we went reasonably high end and got good appliances)
Bathrooms: 28k (same comment as...