Lifeinthesun
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If you do this, you'll become tax resident in Turkey. I'm not sure of the impact (if any) of this on your PRSI contributions for Irish state pension.I also have a property in turkey where we hope to spend 8 months of the year, living very cheaply.
Only going to stay maybe 3 to 4 months at a time, but understand if I stay longer there can be implications, thanksIf you do this, you'll become tax resident in Turkey. I'm not sure of the impact (if any) of this on your PRSI contributions for Irish state pension.
It doesn't matter if you fly home every weekend. It's the total number of days that you spend per year in / out of a country that determines your tax residence. They don't have to be consecutive days.Only going to stay maybe 3 to 4 months at a time
I must look into this as it did not cross my mind, thank youIt doesn't matter if you fly home every weekend. It's the total number of days that you spend per year in / out of a country that determines your tax residence. They don't have to be consecutive days.
Edit: maybe the system in Turkey is not as straight forward; I've read some conflicting advice. However, you would become non-resident in Ireland, which is they let part re pensions.
Did you come to any conclusions on your queries here?Hoping to retire early 2022 with full 800k in SSAP. Fund is broken down with 3 rental properties value 440,000 and 360,000 in cash.
200k cash to take - 25%. 63500 to amrf, balance to arf. 3 properties bring in 750x3 - 2250 euro per month tax free into arf.
Value of fund to drawdown 536,500 of which I can take 4,5,6 per cent or more.
I have no mortgage on my home, no loans, and I have cash savings of 50,000. I also have a property in turkey where we hope to spend 8 months of the year, living very cheaply. Both of us are still working, my wife has no pension, we will both stop work, we are both 56.
Any advice or recommendations on my details above?
Any reason why we shouldn’t both get state pension at 68/69 with full prsi contributions?
Is my wife entitled to any benefits when she finish work?
I pay tax and prsi on my drawdown from arf?
Should I take 4 or 6% from fund, at beginning, bearing in mind I have lump sum?
Where should I invest say 100,000 of lump sum for 10 years?
If I was to continue to get small wage weekly from employer, (consultancy work) can this be put directly into my arf?
Any advice would be very welcome as I have been trying to work out this over the last few year, thus buying 3 properties to keep fund financing me. This is my first post as I have only found this forum. It is excellent information
Hey LITSHoping to retire early 2022 with full 800k in SSAP. Fund is broken down with 3 rental properties value 440,000 and 360,000 in cash.
200k cash to take - 25%. 63500 to amrf, balance to arf. 3 properties bring in 750x3 - 2250 euro per month tax free into arf.
Value of fund to drawdown 536,500 of which I can take 4,5,6 per cent or more.
I have no mortgage on my home, no loans, and I have cash savings of 50,000. I also have a property in turkey where we hope to spend 8 months of the year, living very cheaply. Both of us are still working, my wife has no pension, we will both stop work, we are both 56.
Any advice or recommendations on my details above?
Any reason why we shouldn’t both get state pension at 68/69 with full prsi contributions?
Is my wife entitled to any benefits when she finish work?
I pay tax and prsi on my drawdown from arf?
Should I take 4 or 6% from fund, at beginning, bearing in mind I have lump sum?
Where should I invest say 100,000 of lump sum for 10 years?
If I was to continue to get small wage weekly from employer, (consultancy work) can this be put directly into my arf?
Any advice would be very welcome as I have been trying to work out this over the last few year, thus buying 3 properties to keep fund financing me. This is my first post as I have only found this forum. It is excellent information
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