BoscoTalking
Registered User
- Messages
- 316
Hi @Brendan Burgess and @BoscoTalking have you seen whats happening in Ukraine ?
How is your pension invested?
Given your age and circumstances, my suggestion would be to allocate 100% of your pension savings to the cheapest global equities index fund you can find and to keep your after-tax savings on deposit or in (tax-free) State Savings Certificates.
When you say you have €200k in equities (presumably outside your pension fund), is that a diversified equity fund, a portfolio of individual stocks or a single stock related to your employer?
Is there any scope for the spouse that is working in the public sector to make AVCs or to purchase notional service?
Finally, could you invest in your home to make it more energy efficient?
Mix of company shares - I'm happy to release them when the need arises, but so far there is no need so im happy to hold as they are 3 Big Tech.
Shares: €200k
And do what with the cash tho?If you have shares in your employer, you should sell them as soon as you are allowed to do so.
And do what with the cash tho?
Two options to consider.
1) Trade up to a more expensive house. The benefit you get from this is tax-free. Any increase in value is free of CGT. But you won't be able to access it.
2) Invest in equities. It should provide the best long-term return. You can access part or all of it when you need it. It's pretty much hassle-free.
Gotcha thanks.So instead of having €100k in your employer's company, sell them and buy shares in 5 companies which are not in the tech sector.
Brendan
But you don't seem to be maximising contributions up to your age related tax relief limit? If you have spare cash and no debts then beefing up the pension is often the next recommended thing to address.Pension with Irish Life employer pension and looks like the pot is increasing properly.
we are putting 25% into pensions plus employers contribution.But you don't seem to be maximising contributions up to your age related tax relief limit? If you have spare cash and no debts then beefing up the pension is often the next recommended thing to address.
This is the main point. @BoscoTalking 's outgoings are very low vis-à-vis his wealth and income.You have about €1.2 m in assets.
There are things that you can spend money on that will bring you pleasure
Of course! It's good to prioritise things that don't cost much.But can you not also get pleasure from things that don't cost much money?
That is crazy indeed and it shows just how dysfunctional several aspects of our economic system have become. This includes the housing market as well as the mismatch between rampant inflation and zero returns on savings, the latter undermining the very foundations of a stable, well-managed capitalist system which should never privilege property speculators over those who work and save.Isn't it crazy that the upsizing option is the most logical option in this time in Irelands housing crisis.
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