My mum has 38 years pensionable service in the public service. She plans to retire in 2/3 years, maybe a little longer depending on strains of job, health etc. She has no mortgage and has no debt.
She is considering saving/investing circa €1000 euro a month for her remaining years of work. She could save/invest more if she thought she would make good gains.
We have had a look at some of the key posts in this area. Does it make better financial sence for her to recycle her intended monthly savings through AVCs as opposed to putting it in a deposit account or into equities funds? From our reading, it appears she would be able to put up to 30% of her salary (net I presume?) through AVCs.
If she put money through AVCs for the next few years, how could she access it at retirement. It appears if she tries to draw it down as a lump sum, she would pay tax at her marginal rate and thus this would wipe out the gains she would make. What would be the most astute, tax efficient way of drawing down this money?
Cornmarket seem to have a link with her profession and provide services in this area. Are there better/more cost effective options?
She is considering contacting a financial advisor for advice. Can anyone recommmend one?
All comments/advice appreciated
She is considering saving/investing circa €1000 euro a month for her remaining years of work. She could save/invest more if she thought she would make good gains.
We have had a look at some of the key posts in this area. Does it make better financial sence for her to recycle her intended monthly savings through AVCs as opposed to putting it in a deposit account or into equities funds? From our reading, it appears she would be able to put up to 30% of her salary (net I presume?) through AVCs.
If she put money through AVCs for the next few years, how could she access it at retirement. It appears if she tries to draw it down as a lump sum, she would pay tax at her marginal rate and thus this would wipe out the gains she would make. What would be the most astute, tax efficient way of drawing down this money?
Cornmarket seem to have a link with her profession and provide services in this area. Are there better/more cost effective options?
She is considering contacting a financial advisor for advice. Can anyone recommmend one?
All comments/advice appreciated