I{U}Ireland
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Step 2. What is your risk profile? Some of the gurus on this site will need to know that before they throw any information your way. (the more risk you are prepared to take the better your potential returns).
Step 1. Make sure you have your pension sorted out.
[FONT=Verdana, Arial, Helvetica, sans-serif]FOUR SITUATIONS WHEN A PENSION FUND MIGHT NOT BE ADVISABLE[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]IF YOU AREN'T CONTRIBUTING THE MAXIMUM TO YOUR SPECIAL SAVINGS ACCOUNT[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]The Special Savings Account is more tax attractive than contributing to a pension. Don't contribute to a pension if you are not putting in the maximum €254 per month into your SSA.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif]IF YOU DON'T OWN YOUR OWN HOME[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]Your first investment priority has to be to own your own home. Many people start off a pension in their early 20s frightened by salesman's mantra : "You cannot be too young to start a pension". This should be rephrased "You cannot be too young to start saving". You will need all your money for a deposit on a house and that takes priority over everything including a pension.[/FONT]
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I have €300 per month in AIB Special Saving Account
That depends. If you bought a house now, would you live there for 10,20, 30 years?I do not own a house here; should I start thinking about that??
That depends. If you bought a house now, would you live there for 10,20, 30 years?
There would be a stamp duty clawback of money for an owner occupied home if you sold it within a certain period of time after purchase
but If I got house and I then for some reason I decided to leave here; I still can sell the house correct??
Yes. You should not be liable for any taxes on sale as long as you lived in the property as your main residence.
Incorrect. The clawback only applies were you rent out the property within 5 years.
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