thanks, that the type of reminder i need, I have probably become overly attached to the savings but thats indeed what they are there forWhat is the purpose of the savings plan? Money you didn't need then but you will need in the future. It is there to be spent and you have a need for it now. And the beautiful thing is you will have put less than €50,000 into the savings plan to get €50,000 now.
fair point too, its the lack of getting sensible interest anywhere that makes me reluctant to keep cash and thats why dump everything into zurich...but i am aware i am a little light on that all important emergency fundGoing forward, I would build your cash reserve up higher than €6,000 so you can use it for short term demands on money.
I'm always amazed that people can't see what is staring them in the face.I cannot decide whether I should release equity or just take it out of Zurich.
All within the limits from Revenue grown over time and from 22yrs of employment in Ireland with monthly contributions always with employer contributions too. I have been going in quite heavily with AVCs since 2014 and always maxed out.Did the pension pots grow from employer contributions and you maxing out pension tax relief alone or did you ever over pay beyond that relief into a pension fund? Or did the overpayments all go in to the Zurich pot outside the pension wrapper?
Do you have a view of your expected post-retirement spending needs?I am hoping to retire anywhere between the age of 51 or 55 and think I am in very good shape for that, to be honest lately i have gotten very attached to the 51 over the 55 as I just cannot deal with work and the stress anymore.
Why? Where have you seen advice to the contrary on Askaboutmoney?I have been reading such different advise that I felt an overpayment while also investing was a sensible compromise.
30kEUR p.a. will do me after taxes, thats in todays money.Do you have a view of your expected post-retirement spending needs?
I am thinking this might be advise from back in the day when we had like 1.25% mortgage interest rates for years and years and the ECB was negative and the logic was that an investment eg with Zurich should outperform that. And most likely not here in the forum but elsewhere.Why? Where have you seen advice to the contrary on Askaboutmoney?
I wouldn't spend too long masticating - the issues here seem pretty clear cut.More food for thought.
if I die with nothing in my bank account and will have spend my last EUR on my last day on a 99cone
I would've thought they're about on target to achieve thatwould have thought that you would need a pension pot well north of €1m, plus a paid off home.
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