Coconut Water
Registered User
- Messages
- 11
Age: 37
Spouse’s/Partner's age: n/a
Annual gross income from employment or profession: 43000 basic, but probably 45000 with Overtime
Annual gross income of spouse: N/A
Monthly take-home pay: 1500*
*This would be around 2800 but I have pension and health insurance from work and I am in the share scheme.
Type of employment: e.g. PAYE, Multinational
In general are you:
(a) spending more than you earn, or
(b) saving. I spend about 12k a year, maybe up to 15 if the lockdown ends.
Rough estimate of value of home: N/A
Other borrowings – car loans/personal loans etc: N/A
Do you pay off your full credit card balance each month? N/A
Savings and investments:
Savings 290k cash
Shares: 120k invested and 60k unrealised gains
Bitcoin: 70k invested and 500k unrealised gains
Do you have a pension scheme? Yes, and maxed out my AVCs. However, I'm on only 1 year of contributions.
I also have only been working for 4 years in my life so far. And only on the dole for about 3 months.
Do you own any investment or other property? No
Ages of children: N/A
Life insurance: 11.99 a month and 100k payout if I go before 65
What specific question do you have or what issues are of concern to you?
I started working at 18 for a summer job, and then had no job for years, so I only have 4 years of PRSI contributions. Would this bring my state pension down if I get it because of the yearly average contributions being lower? Or is it assessed off total contributions? Can I use my capital to make additional contributions to the state pension or my work pension? Should I?
I'm sitting on a lot of unrealised capital gains for bitcoin. Germany and Portugal have a 0% tax for these. Could I move abroad to take advantage of this?
As I understand I have to work in Germany for 3 years to become tax resident. If I do that, and then realise my gains, would it all be taxed at 0% (German rate) or would some or all of it be taxed at the Irish rate? How would this affect my state pension? Could I do 5 years here and then 5 years in Germany to bring myself to 10? Could I ever come back to Ireland?
My brother doesn't make much money and won't probably in the future. How do I give him as much financial support as I can other than gifting him the 3k a year?
Spouse’s/Partner's age: n/a
Annual gross income from employment or profession: 43000 basic, but probably 45000 with Overtime
Annual gross income of spouse: N/A
Monthly take-home pay: 1500*
*This would be around 2800 but I have pension and health insurance from work and I am in the share scheme.
Type of employment: e.g. PAYE, Multinational
In general are you:
(a) spending more than you earn, or
(b) saving. I spend about 12k a year, maybe up to 15 if the lockdown ends.
Rough estimate of value of home: N/A
Other borrowings – car loans/personal loans etc: N/A
Do you pay off your full credit card balance each month? N/A
Savings and investments:
Savings 290k cash
Shares: 120k invested and 60k unrealised gains
Bitcoin: 70k invested and 500k unrealised gains
Do you have a pension scheme? Yes, and maxed out my AVCs. However, I'm on only 1 year of contributions.
I also have only been working for 4 years in my life so far. And only on the dole for about 3 months.
Do you own any investment or other property? No
Ages of children: N/A
Life insurance: 11.99 a month and 100k payout if I go before 65
What specific question do you have or what issues are of concern to you?
I started working at 18 for a summer job, and then had no job for years, so I only have 4 years of PRSI contributions. Would this bring my state pension down if I get it because of the yearly average contributions being lower? Or is it assessed off total contributions? Can I use my capital to make additional contributions to the state pension or my work pension? Should I?
I'm sitting on a lot of unrealised capital gains for bitcoin. Germany and Portugal have a 0% tax for these. Could I move abroad to take advantage of this?
As I understand I have to work in Germany for 3 years to become tax resident. If I do that, and then realise my gains, would it all be taxed at 0% (German rate) or would some or all of it be taxed at the Irish rate? How would this affect my state pension? Could I do 5 years here and then 5 years in Germany to bring myself to 10? Could I ever come back to Ireland?
My brother doesn't make much money and won't probably in the future. How do I give him as much financial support as I can other than gifting him the 3k a year?
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