TableCandleBar
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I'm assuming this is not drugs, prostitution, illegal, and Is something like one of big tech companies.
For the record this is more than decent job. It puts you in top ten percentile income or similar.
I might have been thinking of households.
Do we know it is a man?
> my only caveat is a second investment property is probably not the best option for making money given the tax rules
Completely understood, I think it would be a bad move financially. Are the tax rules you are talking about related to local property tax?
I'm an engineer in one of the larger tech companies in Dublin. Thank you for the advice on maxing AVCs. I've just done this.I have to say, even with being in IT myself for many years I didnt think there were 27 year olds taking in 200k per year, amazing and well done. What area of IT are you in, if you can say?
Max your pension AVCs, keep a chuck of cash for 4-5 years time as you might want to clear your mortgage (I don't think interest rates will be very high then but who knows).
Thanks for the feedback. Lots for me to look into here. Honestly I hadn't heard of REIT before so I guess I have some research to do.It's not clear what your plans are but perhaps in a few years you may look to end the lodger arrangement and sell your principal private residence (PPR) and purchase a larger PPR for yourself and/or any significant other. That could give you an increased exposure to property as a % of your overall net worth that you are looking for. Something else to consider with your current after-tax savings is to take some of it and invest in a residential real estate investment trust (REIT) - either a domestic one or perhaps a global one for more diversification. You could become a quasi-landlord that way and could give you property exposure if that's what you desire.
I presume you are building up a form of equity exposure through RSU grants. Maybe when you get the cash into your hands on vesting, you'd consider diversifying into some global low-cost equity funds. Before I'd do this, just make sure that you are utilising your investment potential to the full within your pension. You can contribute 15% of your earnings up to €115k and make sure to avail of the increase to 20% when you turn 30. As a 27-yr old, a 100% equity allocation in the pension should be fine given your investment horizon. The tax relief is generous at the moment to someone in your position but with a government on the hunt for revenue sources to finance the budget, a reduction of the earnings cap for tax relief and/or a withdrawal of the top-rate income tax relief on pension contributions could potentially be on the cards, so max it out while you can.
Big benefit is that it grows tax free.
There's still time to make an AVC backdated to last year, and claim the tax back on it too.Thanks for the advice regarding pension, I've just changed my pension contribution from 8% -> 15%
It actually puts him within the top 0.3% of gross incomes for single males. His income is higher than 99.7% of other unmarried men.
An astonishing salary for a 27-year old.
Try the SILC, it is divided into deciles.
See tables 2.4, 2.5, 2.6.
It actually puts him within the top 0.3% of gross incomes for single malen s. His income is higher than 99.7% of other unmarried men.
An astonishing salary for a 27-year old.
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