Is being rich a case of being educated?
That's more to do with the rural mindset though and the attachment to land. They don't own the land but are slaves to it in many cases, the land owns them.it varies , people from an urban backround are more likely to immerse themselves in displays of wealth ,rural farmers are often quite wealthy but go around dressed what might be viewed as poor , they are also masters at " talking poor " , same farmes might have a few million euro worth of land
Some "research" that was, LOL.I did some research and found that if you have a business you can offset that big top of the range car against tax on the annual return.
a few million euro worth of land that you arent prepared to sell to realise that gain may not make your rich, it depends on what you can earn off it, there are more income poor farmers than income rich ones thats for sure.it varies , people from an urban backround are more likely to immerse themselves in displays of wealth ,rural farmers are often quite wealthy but go around dressed what might be viewed as poor , they are also masters at " talking poor " , same farmes might have a few million euro worth of land
Selling a few million euro worth of land won't make you rich if it means sacrificing your future livelihood.a few million euro worth of land that you arent prepared to sell to realise that gain may not make your rich, it depends on what you can earn off it, there are more income poor farmers than income rich ones thats for sure.
depends on when you sell it....Selling a few million euro worth of land won't make you rich if it means sacrificing your future livelihood.
I think you're ignoring the 'few million euro' bit that the farmer selling will make.Selling a few million euro worth of land won't make you rich if it means sacrificing your future livelihood.
No I'm not.I think you're ignoring the 'few million euro' bit that the farmer selling will make.
Would a few million euro not be akin to having a large salary over a long period of time ?No I'm not.
Would it? For someone under 55, a €2m sale of land would equate to circa €1.5m-€1.7m after CGT. If average life expectancy at age 52 is say 87, they have 35 years left and their main asset and source of income is gone. €42k-€48k p/a ain't exactly the equivalent of large salary especially when inflation is counted.Would a few million euro not be akin to having a over a long period of time ?
in general though they don't sell it, land on average is only transacted every 400 years in Ireland thats the main reason why it always has a high monetary value. I heard of a case where a farmer's son inherited a huge farm that had been built up over generations, he then sold the farm for a few million euros, the father later shot himself. So its not that simple realizing those paper millions that you may in theory "own". There are loads of stories like that not to mention the recent murder suicide cases over land inheritances in CorkI think you're ignoring the 'few million euro' bit that the farmer selling will make.
T - some might just look at the €2m figure and not even think of the small yearly amount of €42-48k p/a until the €2m is gone.then realise they bought or spent a load of nothing.Would it? For someone under 55, a €2m sale of land would equate to circa €1.5m-€1.7m after CGT. If average life expectancy at age 52 is say 87, they have 35 years left and their main asset and source of income is gone. €42k-€48k p/a ain't exactly the equivalent of large salary especially when inflation is counted.
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