My Brother is 41 and runs a small Business, he is married with 2 young children. He employs 3 others one of which is his wife (on a part time basis). He has never contributed to a Pension to date. He has a rental property in addition to his primary residence.
Without getting into the specifics of his finances (which I am not privy to), is the best option to set up a PRSA? Could someone recommend a particular PRSA which has low fees and a good allocation rate?
Is it possible to offset rental income against Pension or is this no differnet to allocating some of your gross income? Also does it make sense for both him and his wife to set up two seperate PRSA's/Pensions?
thanks in advance
Without getting into the specifics of his finances (which I am not privy to), is the best option to set up a PRSA? Could someone recommend a particular PRSA which has low fees and a good allocation rate?
Is it possible to offset rental income against Pension or is this no differnet to allocating some of your gross income? Also does it make sense for both him and his wife to set up two seperate PRSA's/Pensions?
thanks in advance