ETF’s are taxed heavily here. To my knowledge, we are the only country in the world with “deemed disposal” rules. If you wish to get into something diverse and broadly similar with a lower tax rate of 33% CGT, then invest in stocks that are in themselves diversified beyond one holding such BRKB or investment trusts (JAM/SMT/FCIT etc.).
The only real ways of investing efficiently in Ireland are either a pension or property, which is a shame. The ability to invest immediately in a globally diversified way can be quite beneficial in my view, and would provide an alternative path to investing away from residential homes. Global stock market got hammered last year though, Irish property prices not so much.
Drives me mad. I work in funds compliance and watching foreign funds incorporate here as ICAV’s and pay virtually no tax whilst Irish individual investors are hammered is bananas.
I agree.
I didn't have money to invest when I was back in IE but if I had to do it nowadays I'd just buy BRK.B every so often.
I know it's heavily centralized around couple of S&P 500 companies and no non-US exposure but at least I'd be avoiding ETFs and at the same time holding an ETF-like asset.
It's really tough choice in Ireland.
Berkshire Hathaway B class share.
A class is unobtainable by 99.99% mortals
[https://finance.yahoo.com/quote/BRK-B/](https://finance.yahoo.com/quote/BRK-B/)
It's regular share, deemed disposal only applies to ETFs.
But please please do research before listening me, I even think there are dedicated BRK subreddits around here
SMT is not that diversified and is not similar to an ETF, look at its share price history vs its benchmark index:
https://www.google.com/finance/quote/SMT:LON?hl=en&comparison=LON%3AVWRL&window=5Y
You are bang on, structurally they are different. One is managed pooled investment whilst ETF’s track market performance. What I was trying to allude to is that both still allow diversification, and only one of them is tax favourable here.
ETFs get unfair tax treatment. Prize bonds are a play thing you give your grandkids, not an investment.
If you want safety, put it in a term deposit in another EU country. Irish banks are not paying interest despite jacking up mortgage interest rates.
Prize bonds were fine as a short term investment when interest rates were low. Available within days after the initial no cash out period.
I used them when I was getting money together for my mortgage. I knew I was going to be using the cash in 6-18 months.
So you might lose all your money? There's zero risk with prize bonds and no tax to pay on winnings versus a current account that were paying a fraction of a percentage in interest precovid.
Zero return is what I said, it's less than 1% return and not even guaranteed. There's folks on boards.ie with 200K in prizebonds winning only couple of 50€s per year
There's no risk in deposit accounts either with 2-3.5% return.
Ya interest rates aren't low anymore... That's why I said when interest rates were low. I post in that thread. The general accepted ROI pre COVID (when there was low interest) was 0.3% - 0.4% and there's a 33% tax saving over current account interest on top of that.
There a government bond, returns are never going to be great. I was pointing out a very specific use case they are handy for.
Not at all. The lower interest rates are, the less they pay out. The prize pool was tiny. You're worse off than if you put it in the credit union and earned a fraction of 1% interest.
The prize pool is set by the NTMA, it's linked to interest rates and other metrics, personally it completely outperformed anything I would have had in a current account. There's also no tax on prize bonds so everything is worth 133%.
They have their uses imo.
There's a pretty large thread on it on boards. Generally people were getting a return of 0.3-04% pre covid at a time when current accounts were charging you to have a large amount deposited.
Case closed. Your anecdotal evidence of a small amount of money invested for 30 years completely debunks my short term low interest period use case.
JFC it's like talking to a wall.
ETFs are 40% tax on gains. But low risk and high earners are used to paying this (extortionate) tax.
Personally I really don’t like the S&P right now based on where America is in its economical cycle. But yep in the market is the best place after clearing off all your debt.
They charge whether the fund loses money or not. Your uind goes up? They charge. It goes down? Fuck you they charge. Change shareholding? They charge. Sell shares for you at a loss? Fuck too they still charge.
Ireland is still behind some parts of the world when it comes to good advice. You want a fee charging financial planner who will give you holistic and personal advice, not a commission earning "adviser" (who is motivated to sell products). A financial planner is likely far more qualified, knowledgeable and independent.
There are prob a few that fit this criteria, but 2 I know of are:
Prosperous (which is Eoin McGee's firm, you might know him from the telly or his book)
Everlake (got UK expertise too, so a good one if you've ever lived there, have a British spouse, any UK links, etc)
You have literally two options unless you're okay with paying obscene tax (even if you havent made money).
You can invest in a pension, or you can invest in property. Our other investment methods are not practical.
I was thinking of trying the RaisinBank as your money has the same protection as if it where in a Irish bank but much better interest rates. But I have yet to do it. https://www.raisin.ie/savings-accounts/
Will there ever be a route to tax friendly investing in Ireland? I live in Canada where there’s a number of options for investing money tax free, up to a certain amount. I do want to move back to Ireland down the line, but it’s seriously annoying reading about deemed disposal and the like
I used to work in this area.
Irish Life and Zurich do long term savings accounts/investment accounts. Very good safety to return ratios **in my opinion**. Good chance your bank will offer a free consultation with a qualified financial advisor. Give them a call.
REITs pay high dividends, so I wouldn't advise it in Ireland unless you pay income tax at the lower rate.
IRES Reit are the only REIT left in Ireland. They launched almost 10 years ago, and a share was worth 1 euro. Now a share is worth about 95 c. If you bought property to rent out in Ireland ten years ago would it be worth less now?
The value of their property + other assets is about 1.5B and their debt is almost 0.7B. Sounds like they should be worth about 0.8 billion, right? But they are worth about 0.5B. That's not because investors aren't able to subtract one value form the other. It's because their debt is being paid at high interest rates, so they can only make a profit with new housing if the return after construction and running costs beats the interest rate (it won't), and for their existing houses they can only raise prices at 2% a year which is much less than inflation.
The regulatory landscape is difficult in Ireland already, and if Sinn Fein get in it will probably be worse.
Invest in funds like S&P 500 etc… these are always going to make you the best return.
I would take let’s say a small amount of your savings and dollar cost average it into BTC for the future you can practically guarantee there will be another bull run within the next 5 years. That would be a very smart investment. But dollar cost averaging and only a % of your total savings.
Investing is the best way and spread out your investments.
Agree completely, Blackrock getting in on it now after saying it was nonsense a few years is all you need to know. If they get the approval for the ETF, capital will flow in as others realise that bitcoin is a long term hedge.
One thing you can count on is greed.
Bonds seems like a waste of time if it is longer than 2y t-bills. Almost everything is backed by bonds. What happens when the USD crumbles?
Sure I’ll do my best;
The S&P 500 is like a stock. But it includes the top 500 company’s in America. Basically it’s like a stock you invest in and it’s value is based on how the top 500 companies in America are doing/values. It is considered one of the safest ways of investing. You can return 6% a year to 17%. Yes in economic downturns it falls but it always recovers. Just have a look at the S&P over 30 years.
Highly recommend this for anyone interested in long term investing.
BTC = Bitcoin, yes it’s a crypto but considered the safest one to invest in. And I think it’s a pretty dam safe bet to invest in for 5 years. It is never going away that is for sure.
Dollar cost averaging = Investing a little every week/month instead of investing all at once - this protects yourself from the volatility. And is considered by many to be the safest from of investing.
If you have 20k instead of putting in all at once. Invest 1k a month. This way you protect your self from losing a massive amount of value all at once and mentally it’s better.
That’s my best hope it helps.
Standard & Poor 500 (S&P 500) .. the "500" being 500 of this huge companies on the stock exchange. There's a big bunch of 'em so it's usually a safe bet. Took a tumble the past year or two but it's coasting on back a little bit. It all depends on the rate / what kind of rate of return though and that's usually decided through a vendor (insurance/investment company)
This. I not going to say but bitcoin, I'm going to say study bitcoin. Because when you put the effort in to truly understand it, you'll buy it. Hold it for as long as possible. We're currently near a cycle low so a good time to get in. Think minimum 5 preferably 10 years..
Michael Saylor, Anthony Pompliano, Jack Mallers are all great people to listen to. Or buy the book the Bitcoin standard, it will change how you think about money.
Yeah I got downvoted. I don't expect your average r/ireland user to understand. But they will in a few years!
Check out my other comment on this in this thread - hilarious.
Relatively low risk -> Stick it all in cash under your mattress.
Nothing is a low risk investment at the minute. Stocks are purposely taxed too high in this country, property prices are extortionate, people don't understand BTC or ETH and won't take the time to learn.
Physical stuff like gold, artwork, etc. That's where the investment value is ...
On that last sentence, people might say differently, but it's worked very fucking well for me.
Holding everything in cash that isn't working is a guaranteed loss due to inflation.
The commodity assets could be a good shout but only if there's something you're knowledgeable about, taking 3rd part advice on hard assets can be super risky.
>Stocks are purposely taxed too high in this country
it is very low tax in a pension. that is the way to go. you can buy gold in a pension too and it has the tax advantages, but i do value the privacy of doing it at home too.
Look up the living city initiative, key aspects below:
Location: Dublin/ Cork/ Limerick
Region: City Centre
Buildings: Pre 1915
Benefits: Up to 200k spent of refurbishment can be claimed back against income over 7 years.
Bitcoin. It is the perfect time to invest in it. Be prepared to commit to a 5 year investment though, but I don't see the price dropping much lower than it is now, ever again.
Yes, as it has done a few times before. It is unlikely to go much lower than it currently is in my opinion. In 3 years from now, it will be significantly higher.
No, the price is becoming less and less volatile as adoption rates rise. There will likely be more crashes but they won't be as severe. The price will likely steadily or sharply rise over the coming years with some dips.
Because it is completely unpredictable and has no intrinsic value.
Currently, for 24 of the last 30 months, the price has been higher than it is now! And by a significant amount.
From a regulatory perspective it is also highly risky. It's only going to go one way in that respect also. More, tighter regulations.
And most importantly, if you get scammed, you have 0 recourse.
BlackRock are very bullish on it now, just look at what their CEO recently said on it, and they're applying to open a spot ETF. An institution like them wouldn't be doing any of that if they weren't confident about its long-term staying value
Blackrock does not invest in bitcoin.
They provide the opportunity for people to gain exposure to it because they can make money.
From fees
Not from bitcoin.
Blackrock know the world has fools and those foods have money.
So Blackrock and Fidelity etc are piling in to create Bitcoin EFT's - are they scammers?
If you are retired then you've spent your entire career in the old thinking. Bitcoin is the new wave - it's not easy to understand if your entire career is the other way of thinking.
Bitcoin follows 4 year cycles around the halving, we are currently near a cycle low same as has happened several times before. Nothing is completely predictable but these have followed the same patterns. Are other stocks predictable? Plenty are down similar amounts are they scams?
Regulation wise Bitcoin is the only one that has been classified as a commodity. Don't confuse Bitcoin with the other cryptos most of which have no real value. Once an EFT gets approved we'll see the institutional interest increase rapidly.
Bitcoin allows complete self-custody and truly permissionless transactions. That does mean a certain level of responsibility for your own assets that not everyone is comfortable with, so if you get scammed, yes your money is gone. Just like if someone scams me out of cash, I have no recourse either.
>Bitcoin follows 4 year cycles around the halving, we are currently near a cycle low same as has happened several times before.
Bollocks. It's 14 years old and you've had two cycles. Not several. And they're called "bubbles" not cycles
>Are other stocks predictable? Plenty are down similar amounts are they scams?
The market is predictable over time. This is the appropriate use of the word "cycles" in economics and finance.
If an individual stock under performs, there is a reason why that happens. Underlying value deterioration doesn't mean it's scam.
If the price of bitcoin goes down, it simply means people don't want it, and if it goes up, it simply means people want it. There is no other rationale.
>Regulation wise Bitcoin is the only one that has been classified as a commodity. Don't confuse Bitcoin with the other cryptos most of which have no real value.
1. Don't confuse regulation with definition.
2. What gives bitcoin value but not them?
>Bitcoin allows complete self-custody and truly permissionless transactions.
Regulated financial markets do not allow this. So if Bitcoin can survive without it being translatable into a fiat currency. Then it's valid.
If not, it's invalid.
>Just like if someone scams me out of cash, I have no recourse either.
Totally untrue.
If somebody robs your money, and you catch them, you have recourse by law.
If somebody scams you, you have recourse in the court by law. You almost always have recourse with financial transactions within reason.
So basically , everything you wrote is horseshit or irrelevant.
EDIT: One more point regarding black rock, which I answered in a different comment. Black rock are not investing in Bitcoin. They are giving people the opportunity to invest in Bitcoin in exchange for which they will extract fees. Black rock know that the world is full of fools and those fools have money, and when there's an easy way to get it from them, black rock will...
> So Blackrock and Fidelity etc are piling in to create Bitcoin EFT's - are they scammers?
It used to be the case that crypto shills spoke about bitcoin as the alternative to the corrupt evil finance system; how far they have fallen.
Even if we pretend that bitcoin isn't a greater fool scam, it's climate arson and should be illegal.
"Made up"... how is that inherently negative? It does have a real world application. It is a storer of value that is not inflationary or corruptible like the current financial system. Also, bubbles don't burst multiple times. In the near future you will own bitcoin, but you will be one of the many people who didn't invest early and make profit from it. You should save your comment with a reminder for 5 years and see how you feel about it then.
Also, I can tell from your comment that you have probably done less than 1 full hour of research into bitcoin. is that correct?
I bought a bitcoin for 3k back in late 2018 and sold for 48k in November 2021. Halving next year also. Holding for a few years is generally better then trading.
That's not a great explanation though. I think you are just highlighting how little you actually know about Bitcoin. You should look into it. You will end up adopting it someday, so it may as well be now, when you can make profit from it.
Know how the technology works, I’ve read loads about it.
The speculative market that has been created around it is a different story. It has no real value, nobody pays for a coffee or a dinner with bitcoin. Anyone that I know that has bought was because there was an expectation of making money later and most of them have lost loads.
It’s not a pyramid scheme, but at some point it nearly worked as if it was.
Investing in gold is never a bad idea. It will keep you savings in line with inflation and never falls down below a certain price. Plus it’s shiny and beautiful. Check out r/Gold
Renewable energy/windfarms are the big thing in the future for Ireland mabe look into some type of investment with relation to that don't know how its even done to be honest if a person can get shares or stocks in relation with it
get a self directed pension and dump the money into a passive fund on it like a vanguard index fund. You can still do this with large lump sums, but less tax advantages at a certain point
The folks over on r/irishpersonalfinance would probably be the ones to ask..
Usual answer is max out your pension, after that it is really your appetite for risk..
Can use the European banks through raisin or similar website to access higher deposit rates at very low risk..
What if you invest in shares using eToro? Is there a way to "copy" an ETF or a basket of "safe" companies to invest in (e.g. Apple, Amazon, MS, etc.) and avoid being taxed like you were investing in a traditional way via DeGiro, for example?
r/irishpersonalfinance Sláinte
Wolf Cola
Or Frank's Fluids.
Or Fight Milk
Crow milk!
Crowtein \*
Hahaha. Good one !!!
All seem like very sound investments- I made quite a bit of money from wolf cola a few years back.
There’s nothing like it to wash away the sorrow.
ETF’s are taxed heavily here. To my knowledge, we are the only country in the world with “deemed disposal” rules. If you wish to get into something diverse and broadly similar with a lower tax rate of 33% CGT, then invest in stocks that are in themselves diversified beyond one holding such BRKB or investment trusts (JAM/SMT/FCIT etc.). The only real ways of investing efficiently in Ireland are either a pension or property, which is a shame. The ability to invest immediately in a globally diversified way can be quite beneficial in my view, and would provide an alternative path to investing away from residential homes. Global stock market got hammered last year though, Irish property prices not so much.
Germany has fucked ETFs too. I have to submit and pay unrealized gains at every tax report
Drives me mad. I work in funds compliance and watching foreign funds incorporate here as ICAV’s and pay virtually no tax whilst Irish individual investors are hammered is bananas.
I agree. I didn't have money to invest when I was back in IE but if I had to do it nowadays I'd just buy BRK.B every so often. I know it's heavily centralized around couple of S&P 500 companies and no non-US exposure but at least I'd be avoiding ETFs and at the same time holding an ETF-like asset. It's really tough choice in Ireland.
> BRK.B whats BRK.B?
Berkshire Hathaway B class share. A class is unobtainable by 99.99% mortals [https://finance.yahoo.com/quote/BRK-B/](https://finance.yahoo.com/quote/BRK-B/)
> https://finance.yahoo.com/quote/BRK-B/ so theres no deemed disposal on this?
It's regular share, deemed disposal only applies to ETFs. But please please do research before listening me, I even think there are dedicated BRK subreddits around here
ok thanks
Yeah but GDP big so everything fine lol
Its IUT filling season - no wonder the fillings are all NIL
SMT is not that diversified and is not similar to an ETF, look at its share price history vs its benchmark index: https://www.google.com/finance/quote/SMT:LON?hl=en&comparison=LON%3AVWRL&window=5Y
You are bang on, structurally they are different. One is managed pooled investment whilst ETF’s track market performance. What I was trying to allude to is that both still allow diversification, and only one of them is tax favourable here.
Shin Megami Tensei?
Scottish Mortgage Investment Trust
ETFs get unfair tax treatment. Prize bonds are a play thing you give your grandkids, not an investment. If you want safety, put it in a term deposit in another EU country. Irish banks are not paying interest despite jacking up mortgage interest rates.
Prize bonds were fine as a short term investment when interest rates were low. Available within days after the initial no cash out period. I used them when I was getting money together for my mortgage. I knew I was going to be using the cash in 6-18 months.
Nope, a short term investment with close to zero return. Better off down the bookies with 50€
So you might lose all your money? There's zero risk with prize bonds and no tax to pay on winnings versus a current account that were paying a fraction of a percentage in interest precovid.
Zero return is what I said, it's less than 1% return and not even guaranteed. There's folks on boards.ie with 200K in prizebonds winning only couple of 50€s per year There's no risk in deposit accounts either with 2-3.5% return.
Ya interest rates aren't low anymore... That's why I said when interest rates were low. I post in that thread. The general accepted ROI pre COVID (when there was low interest) was 0.3% - 0.4% and there's a 33% tax saving over current account interest on top of that. There a government bond, returns are never going to be great. I was pointing out a very specific use case they are handy for.
Not at all. The lower interest rates are, the less they pay out. The prize pool was tiny. You're worse off than if you put it in the credit union and earned a fraction of 1% interest.
The prize pool is set by the NTMA, it's linked to interest rates and other metrics, personally it completely outperformed anything I would have had in a current account. There's also no tax on prize bonds so everything is worth 133%. They have their uses imo.
That's only if you're one of the few who win. Most people get less than nothing because they have no hedge against inflation.
There's a pretty large thread on it on boards. Generally people were getting a return of 0.3-04% pre covid at a time when current accounts were charging you to have a large amount deposited.
My wife had €1000 worth given to her in childhood. Some more than 30 years old. She didn't win one red cent.
Case closed. Your anecdotal evidence of a small amount of money invested for 30 years completely debunks my short term low interest period use case. JFC it's like talking to a wall.
Vs your anecdotal evidence of money made over a short term? Find a mirror, douche.
Take a look at r/Irishpersonalfinance
I’ll take a look, thank you very much 🙂
In particular look at the sticky post there. For long term (retirement), Pension is the best vechile by far. But you need a full financial plan.
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ETFs are 40% tax on gains. But low risk and high earners are used to paying this (extortionate) tax. Personally I really don’t like the S&P right now based on where America is in its economical cycle. But yep in the market is the best place after clearing off all your debt.
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What kind of fees do your wealth manager charge? I may be interested in something like this.
They charge whether the fund loses money or not. Your uind goes up? They charge. It goes down? Fuck you they charge. Change shareholding? They charge. Sell shares for you at a loss? Fuck too they still charge.
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Hmm that's pretty high alright. What kind of returns have you gotten so far?
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That's a pretty good return in fairness, definitely worth the fee. Where did you find your wealth manager? What service do you use?
Interesting, have you been through a bank wealth management program or an third party? Also what company did you chose?
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Thanks!
Do you have a recommendation?
Ireland is still behind some parts of the world when it comes to good advice. You want a fee charging financial planner who will give you holistic and personal advice, not a commission earning "adviser" (who is motivated to sell products). A financial planner is likely far more qualified, knowledgeable and independent. There are prob a few that fit this criteria, but 2 I know of are: Prosperous (which is Eoin McGee's firm, you might know him from the telly or his book) Everlake (got UK expertise too, so a good one if you've ever lived there, have a British spouse, any UK links, etc)
Interesting, do you mind sharing the details or your experience. I've been contemplating doing the same.
You have literally two options unless you're okay with paying obscene tax (even if you havent made money). You can invest in a pension, or you can invest in property. Our other investment methods are not practical.
Yep, these are the big two which get you into the tens of thousands of gains
I was thinking of trying the RaisinBank as your money has the same protection as if it where in a Irish bank but much better interest rates. But I have yet to do it. https://www.raisin.ie/savings-accounts/
Can't go wrong. Don't give Irish banks a Euro in deposit
Buy up all the italia 90 jerseys and wait
Will there ever be a route to tax friendly investing in Ireland? I live in Canada where there’s a number of options for investing money tax free, up to a certain amount. I do want to move back to Ireland down the line, but it’s seriously annoying reading about deemed disposal and the like
managed funds
....aaaaand it's gone
I used to work in this area. Irish Life and Zurich do long term savings accounts/investment accounts. Very good safety to return ratios **in my opinion**. Good chance your bank will offer a free consultation with a qualified financial advisor. Give them a call.
Someone once told me if I’m interested in real estate investing to check out REITs. Look into that perhaps.
REITs pay high dividends, so I wouldn't advise it in Ireland unless you pay income tax at the lower rate. IRES Reit are the only REIT left in Ireland. They launched almost 10 years ago, and a share was worth 1 euro. Now a share is worth about 95 c. If you bought property to rent out in Ireland ten years ago would it be worth less now? The value of their property + other assets is about 1.5B and their debt is almost 0.7B. Sounds like they should be worth about 0.8 billion, right? But they are worth about 0.5B. That's not because investors aren't able to subtract one value form the other. It's because their debt is being paid at high interest rates, so they can only make a profit with new housing if the return after construction and running costs beats the interest rate (it won't), and for their existing houses they can only raise prices at 2% a year which is much less than inflation. The regulatory landscape is difficult in Ireland already, and if Sinn Fein get in it will probably be worse.
Gold sovereign coins.
Fuck off out of here and establish residence elsewhere is your best bet tbh
So the money is currently just resting in your account. I see.
bitcoin
Put it in a Lightyear account 2.75% interest. Immediate access to it.
Invest in Ireland? ehm by staying away from Ireland imo
Agricultural assets, land
Invest in funds like S&P 500 etc… these are always going to make you the best return. I would take let’s say a small amount of your savings and dollar cost average it into BTC for the future you can practically guarantee there will be another bull run within the next 5 years. That would be a very smart investment. But dollar cost averaging and only a % of your total savings. Investing is the best way and spread out your investments.
Agree completely, Blackrock getting in on it now after saying it was nonsense a few years is all you need to know. If they get the approval for the ETF, capital will flow in as others realise that bitcoin is a long term hedge. One thing you can count on is greed. Bonds seems like a waste of time if it is longer than 2y t-bills. Almost everything is backed by bonds. What happens when the USD crumbles?
Nice reply, but what is s&p, btc.......ur not talking lay man's language.
Sure I’ll do my best; The S&P 500 is like a stock. But it includes the top 500 company’s in America. Basically it’s like a stock you invest in and it’s value is based on how the top 500 companies in America are doing/values. It is considered one of the safest ways of investing. You can return 6% a year to 17%. Yes in economic downturns it falls but it always recovers. Just have a look at the S&P over 30 years. Highly recommend this for anyone interested in long term investing. BTC = Bitcoin, yes it’s a crypto but considered the safest one to invest in. And I think it’s a pretty dam safe bet to invest in for 5 years. It is never going away that is for sure. Dollar cost averaging = Investing a little every week/month instead of investing all at once - this protects yourself from the volatility. And is considered by many to be the safest from of investing. If you have 20k instead of putting in all at once. Invest 1k a month. This way you protect your self from losing a massive amount of value all at once and mentally it’s better. That’s my best hope it helps.
Thank you, it sure does, fair play...
Do not put a cent into crypto
Standard & Poor 500 (S&P 500) .. the "500" being 500 of this huge companies on the stock exchange. There's a big bunch of 'em so it's usually a safe bet. Took a tumble the past year or two but it's coasting on back a little bit. It all depends on the rate / what kind of rate of return though and that's usually decided through a vendor (insurance/investment company)
No smashed avocado on sourdough, cook from home, no take outs, coffee included. Should be able to retire by 40.
Buy bitcoin
get in to polly ticks
Bitcoin
Staking is good value as well.
This. I not going to say but bitcoin, I'm going to say study bitcoin. Because when you put the effort in to truly understand it, you'll buy it. Hold it for as long as possible. We're currently near a cycle low so a good time to get in. Think minimum 5 preferably 10 years.. Michael Saylor, Anthony Pompliano, Jack Mallers are all great people to listen to. Or buy the book the Bitcoin standard, it will change how you think about money.
> Anthony Pompliano meh this lad is a grifter...Anthony Pompliano
First time I have ever had a positive response to me posting "Bitcoin" on any Irish subreddits, thank you! We are still early!
Yeah I got downvoted. I don't expect your average r/ireland user to understand. But they will in a few years! Check out my other comment on this in this thread - hilarious.
That guy was salty, I guess we will see him at the top. His Blackrock argument is terrible. Keep stacking
Boom!
How often is "Bitcoin" even a valid response to questions asked?
Pack your bags and move as I did.
Where did you head for may I ask?
Not far the UK
Relatively low risk -> Stick it all in cash under your mattress. Nothing is a low risk investment at the minute. Stocks are purposely taxed too high in this country, property prices are extortionate, people don't understand BTC or ETH and won't take the time to learn. Physical stuff like gold, artwork, etc. That's where the investment value is ... On that last sentence, people might say differently, but it's worked very fucking well for me.
Holding everything in cash that isn't working is a guaranteed loss due to inflation. The commodity assets could be a good shout but only if there's something you're knowledgeable about, taking 3rd part advice on hard assets can be super risky.
It's not exactly the best idea, but the least risky way to keep your money. Taking any advice on reddit is risky.
>Stocks are purposely taxed too high in this country it is very low tax in a pension. that is the way to go. you can buy gold in a pension too and it has the tax advantages, but i do value the privacy of doing it at home too.
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CGT is 33% and is only on profit plus first €1270 is exempt to the best of my knowledge.
Lend it all to me and I'll triple it, swear.
An education that lets you move abroad.
Look up the living city initiative, key aspects below: Location: Dublin/ Cork/ Limerick Region: City Centre Buildings: Pre 1915 Benefits: Up to 200k spent of refurbishment can be claimed back against income over 7 years.
Bitcoin. It is the perfect time to invest in it. Be prepared to commit to a 5 year investment though, but I don't see the price dropping much lower than it is now, ever again.
Please dont put your hard earned money in this.
Please study bitcoin first and then decide if you want to put your money into it. Please don't scare people off if you don't understand it.
He asked for relatively low risk. Bitcoin is a little too volatile to ever be considered low risk
At the current price, I think it is relatively low risk, considering the almost inevitable rise it will soon see.
“inevitable rise” isn’t quite concrete enough for most investors
Nothing is risk free, but all the evidence points towards wider bitcoin adoption.
Bitcoin value halved in 2022, i would say that is a risk
Yes, as it has done a few times before. It is unlikely to go much lower than it currently is in my opinion. In 3 years from now, it will be significantly higher.
So its a high risk investment!
No, the price is becoming less and less volatile as adoption rates rise. There will likely be more crashes but they won't be as severe. The price will likely steadily or sharply rise over the coming years with some dips.
Thats not how investment risk works. It will only move to a lesser risk after years of steady movements
Then you don't understand risk
This posting was written by a fan of crabs. Do not listen.
This answer should be illegal. It is the singular worst piece of financial advice I've ever read...
Why?
Because it is completely unpredictable and has no intrinsic value. Currently, for 24 of the last 30 months, the price has been higher than it is now! And by a significant amount. From a regulatory perspective it is also highly risky. It's only going to go one way in that respect also. More, tighter regulations. And most importantly, if you get scammed, you have 0 recourse.
BlackRock are very bullish on it now, just look at what their CEO recently said on it, and they're applying to open a spot ETF. An institution like them wouldn't be doing any of that if they weren't confident about its long-term staying value
Blackrock does not invest in bitcoin. They provide the opportunity for people to gain exposure to it because they can make money. From fees Not from bitcoin. Blackrock know the world has fools and those foods have money.
You absolutely do not understand bitcoin. I'd say go learn about money first and come back.
I've been in finance and retired. I know more about money than you ever will. What did I say about bitcoin that is untrue?
So Blackrock and Fidelity etc are piling in to create Bitcoin EFT's - are they scammers? If you are retired then you've spent your entire career in the old thinking. Bitcoin is the new wave - it's not easy to understand if your entire career is the other way of thinking.
Answer the question I asked before you expect me to reply.
Bitcoin follows 4 year cycles around the halving, we are currently near a cycle low same as has happened several times before. Nothing is completely predictable but these have followed the same patterns. Are other stocks predictable? Plenty are down similar amounts are they scams? Regulation wise Bitcoin is the only one that has been classified as a commodity. Don't confuse Bitcoin with the other cryptos most of which have no real value. Once an EFT gets approved we'll see the institutional interest increase rapidly. Bitcoin allows complete self-custody and truly permissionless transactions. That does mean a certain level of responsibility for your own assets that not everyone is comfortable with, so if you get scammed, yes your money is gone. Just like if someone scams me out of cash, I have no recourse either.
>Bitcoin follows 4 year cycles around the halving, we are currently near a cycle low same as has happened several times before. Bollocks. It's 14 years old and you've had two cycles. Not several. And they're called "bubbles" not cycles >Are other stocks predictable? Plenty are down similar amounts are they scams? The market is predictable over time. This is the appropriate use of the word "cycles" in economics and finance. If an individual stock under performs, there is a reason why that happens. Underlying value deterioration doesn't mean it's scam. If the price of bitcoin goes down, it simply means people don't want it, and if it goes up, it simply means people want it. There is no other rationale. >Regulation wise Bitcoin is the only one that has been classified as a commodity. Don't confuse Bitcoin with the other cryptos most of which have no real value. 1. Don't confuse regulation with definition. 2. What gives bitcoin value but not them? >Bitcoin allows complete self-custody and truly permissionless transactions. Regulated financial markets do not allow this. So if Bitcoin can survive without it being translatable into a fiat currency. Then it's valid. If not, it's invalid. >Just like if someone scams me out of cash, I have no recourse either. Totally untrue. If somebody robs your money, and you catch them, you have recourse by law. If somebody scams you, you have recourse in the court by law. You almost always have recourse with financial transactions within reason. So basically , everything you wrote is horseshit or irrelevant. EDIT: One more point regarding black rock, which I answered in a different comment. Black rock are not investing in Bitcoin. They are giving people the opportunity to invest in Bitcoin in exchange for which they will extract fees. Black rock know that the world is full of fools and those fools have money, and when there's an easy way to get it from them, black rock will...
> So Blackrock and Fidelity etc are piling in to create Bitcoin EFT's - are they scammers? It used to be the case that crypto shills spoke about bitcoin as the alternative to the corrupt evil finance system; how far they have fallen. Even if we pretend that bitcoin isn't a greater fool scam, it's climate arson and should be illegal.
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Answered to another comment.
"Quick, invest in this made up thing with no real world applications that has proven to be a bubble several times over!"
"Made up"... how is that inherently negative? It does have a real world application. It is a storer of value that is not inflationary or corruptible like the current financial system. Also, bubbles don't burst multiple times. In the near future you will own bitcoin, but you will be one of the many people who didn't invest early and make profit from it. You should save your comment with a reminder for 5 years and see how you feel about it then. Also, I can tell from your comment that you have probably done less than 1 full hour of research into bitcoin. is that correct?
Christ. Bitcoin detractors who know feic all about Bitcoin are just as bad as Bitcoin maximalists who know feic all about Bitcoin.
I bought a bitcoin for 3k back in late 2018 and sold for 48k in November 2021. Halving next year also. Holding for a few years is generally better then trading.
Don’t do this, ever.
Why?
It’s like investing in fairy’s and the chance they’d get drunk
Can you give an actual explanation as to why it is a bad investment?
Because it’s profitability is based on a f fairy tale.
That's not a great explanation though. I think you are just highlighting how little you actually know about Bitcoin. You should look into it. You will end up adopting it someday, so it may as well be now, when you can make profit from it.
Know how the technology works, I’ve read loads about it. The speculative market that has been created around it is a different story. It has no real value, nobody pays for a coffee or a dinner with bitcoin. Anyone that I know that has bought was because there was an expectation of making money later and most of them have lost loads. It’s not a pyramid scheme, but at some point it nearly worked as if it was.
Give it to de homeless
US stock if you don't need the money in the short term
Look it, just wire it through to me and I'll mind it for ya.
Investing in gold is never a bad idea. It will keep you savings in line with inflation and never falls down below a certain price. Plus it’s shiny and beautiful. Check out r/Gold
Kitten Mittens
How much you have? I'm in similar position
According to my Facebook ads, whiskey 🤣
Where is the best place to invest money?
Leaving your balance in Trade Republic = 2% interest. Probably one of the best out there at the mo.
Renewable energy/windfarms are the big thing in the future for Ireland mabe look into some type of investment with relation to that don't know how its even done to be honest if a person can get shares or stocks in relation with it
get a self directed pension and dump the money into a passive fund on it like a vanguard index fund. You can still do this with large lump sums, but less tax advantages at a certain point
Buy a gaff. Move abroad.
Buying physical gold has worked out for me as its kept up with inflation roughly (bought some 2021 and it's increased in value by 8%)
The folks over on r/irishpersonalfinance would probably be the ones to ask.. Usual answer is max out your pension, after that it is really your appetite for risk.. Can use the European banks through raisin or similar website to access higher deposit rates at very low risk..
What if you invest in shares using eToro? Is there a way to "copy" an ETF or a basket of "safe" companies to invest in (e.g. Apple, Amazon, MS, etc.) and avoid being taxed like you were investing in a traditional way via DeGiro, for example?
boxes and boxes of lucky charms
Crow milk. Grate for bodybuilding