JohnnyJohnJohns
Registered User
- Messages
- 3
As discussed on here, investing in the market outside a pension is not very effective from a tax viewpoint given the higher rates of CGT/Exit Tax on any earnings. That said, it is possible if you wish to do itinvesting in the market (We're both somewhat risk averse)
Have you factored in childcare costs into this? I assume the child is not yet in a childcare facility at 6 months, but this will cost roughly 1k a month full time. I have no idea what other arrangements you may be able to come to etc. This will continue for a few years to come, including national school after-school and holiday time
Are you planning on having any more children - you need to keep any additional costs, or extra time off, in mind here
Personally regarding the 41k - I would keep a lump sum of it as the rainy day fund and pay the rest off the mortgage. Every 10k saves you €250 a year (3.1% - 0.6% (net of DIRT)) - Over 25 years that's 6250 euro !
As discussed on here, investing in the market outside a pension is not very effective from a tax viewpoint given the higher rates of CGT/Exit Tax on any earnings. That said, it is possible if you wish to do it
Personally, I believe Ireland does need some sort of ISA arrangement to encourage people to save and increase that 'saving' mentality !
hopefully align pretty close to our son moving to the ECCE
Personally, I believe Ireland does need some sort of ISA arrangement to encourage people to save and increase that 'saving' mentality !
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