or... can this only be answered by a Financial Advisor?
And the problem wasn't the managed funds. The problem was you were forced to sell them when you didn't want to and some of them were still underwater.
I may be missing something here but why was the OP "forced" to liquidate their shares in the funds offered on Rabo's (now closed) platform?The problem was you were forced to sell them when you didn't want to and some of them were still underwater.
I may be missing something here but why was the OP "forced" to liquidate their shares in the funds offered on Rabo's (now closed) platform?
I thought all investors in the Rabo distributed funds had the option of retaining their interests in those funds through a brokerage account with Cantor FitzGerald. No?
Not directed at you personally Steven, I know you had no involvement in the sale of these funds, but it has to be said.
Pensions experts only see what "the problem was" in the rear view mirror.
Allowing for the fact that I only see “what the problem was” ,I hope the following helps:
1- if you open a new pension (say a PRSA if no Employer contribution) in 2017 and make a payment before year end , then you can claim relief against 2017income (by making a tax return in 2018)
2- the Tax you get back in 2018 (after you make a tax return) depends on your marginal rate, 20% or 40%.
3- if you turn age 40 in 2017, then the 40% limit applies
4- in terms of picking a provider, well that’s where, perhaps, you need advice. In reality, if you are going the PRSA route, most of the contracts are broadly similar ( in terms of charges). Where they will differ is in terms of investment options, potential performance etc.
I can only apologies (to cremegg etc) that I cannot predict the future. As the saying goes “predictions, particularly about the future, are difficult”.
Nope, no work pension. I'll post up the questions I asked in my "Pensions" thread ( thought I had to move it there)...
I turned 40 in October and had planned to start a pension in January 2018.
Q1: Is it possible for me to open a pension before the end of the year, pay a lump sum into it, and claim a tax refund in 2018?
Q2: Assuming the lump sum is something like 15K, what tax do I get back?
Q3: As I only turned 40 in October, am I allowed to put the full 25% of my 2017 earnings into the pension?
Q4: How do I decide between pension providers? Are they all the same, what benefits do I look for when deciding on one over the other?
2. For a €15,000 premium and paying tax at the higher rate, you get income tax relief of 40% = €6,000. You still have to pay USC & PRSI on the contribution, so the real saving is closer to €5,250.
You can pay double and claim 15k in respect of 2017 and €15k in respect of 2018.
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