Really useful video. I think the reason a lot of young Irish people get confused is because of the lack of financial content from Irish TH-camrs. So this is really helpful to clear things up!
As a person in my early 20s content like this is helpful. Would love to see more content for early 20s as all the mortgage and pension talk goes over my head as a student/ part time worker
Yes I’m from a working class background. Growing up just got told to never borrow anything and my parents have their life savings siting in a current account. I know we can all do better but haven’t a clue and can only find US advisers when I search which leads me more confusion 😁
I cannot overstate the amount of translating I’ve had to do over the years between American advice and Irish advice! It all comes down to a lack of content. Now that being said…Graham Stephan is absolutely phenomenal to follow…you just need to know what to filter out.
Thanks Paul. That explains my utter confusion and amazement in Philly 3 years ago when I overheard 3 brokers in a bar talking about sheltering their big bonuses in their IRA. Up the RA they were shouting at the end of the night as they were kicked out
I'm pretty sure a Roth IRA is funded with after-tax money so it's like a UK ISA. American "pension" is like a (civil servant) DB pension here. American 401(k) is like an employers DC pension here.
If you invest 100 euro into your pension with a 40% income tax back, it's not 40% return it's actually 66.67% return! 60 euro multipled by 1.67 is 100 euro
I'm not sure about the idea of going for a managed fund over passive. We have plenty of platform options in Ireland for investing now to faciltate this. If people put away a monthly contribution to S&P 500 VOO (accum) for 10-20 years they will likely see significant gains, assuming they don't pull money out during a dip. Also, with the recent DoF recommendation to remove the "8 year deemed disposable" tax rule we will be able to leave money compound properly. This is on the assumption the recommendation is passed by government.
Really useful video. I think the reason a lot of young Irish people get confused is because of the lack of financial content from Irish TH-camrs. So this is really helpful to clear things up!
As a person in my early 20s content like this is helpful. Would love to see more content for early 20s as all the mortgage and pension talk goes over my head as a student/ part time worker
Yes I’m from a working class background. Growing up just got told to never borrow anything and my parents have their life savings siting in a current account. I know we can all do better but haven’t a clue and can only find US advisers when I search which leads me more confusion 😁
Thanks Kevin, great to hear you like the content. Hope all is well on your travels. Mark - askpaul team.
Only financial advisor I have ever heard to recommend a managed fund over a passive fund.
Great advice Paul ,might pop in for a consultation some day
I cannot overstate the amount of translating I’ve had to do over the years between American advice and Irish advice!
It all comes down to a lack of content. Now that being said…Graham Stephan is absolutely phenomenal to follow…you just need to know what to filter out.
The American market place is much more sophisticated and offers far less tax liabilities.
Brilliant video, great to see qualified Irish-based advice in response to these American videos, which are unhelpful to people here.
Thanks Paul. That explains my utter confusion and amazement in Philly 3 years ago when I overheard 3 brokers in a bar talking about sheltering their big bonuses in their IRA. Up the RA they were shouting at the end of the night as they were kicked out
I'm pretty sure a Roth IRA is funded with after-tax money so it's like a UK ISA.
American "pension" is like a (civil servant) DB pension here. American 401(k) is like an employers DC pension here.
Thankyou Paul. More Irish content is just what is needed 👌
Thanks 😊 great to here you are enjoying the content. Mark - askpaul team
If you invest 100 euro into your pension with a 40% income tax back, it's not 40% return it's actually 66.67% return! 60 euro multipled by 1.67 is 100 euro
For the lower rate of income tax it's 25% return not 20%. 80 euro multipled by 1.25 is 100
I'm not sure about the idea of going for a managed fund over passive. We have plenty of platform options in Ireland for investing now to faciltate this. If people put away a monthly contribution to S&P 500 VOO (accum) for 10-20 years they will likely see significant gains, assuming they don't pull money out during a dip. Also, with the recent DoF recommendation to remove the "8 year deemed disposable" tax rule we will be able to leave money compound properly. This is on the assumption the recommendation is passed by government.
Great content Paul 👏🏻
Subscribed gonna go through your content seems applicable and useful
Thanks Michal, let us know if you have any questions.
Mark - askpaul team
A good watch. I think many people will find this very helpful.
Thanks Leanne, it was great chatting to you this week 👍
Mark - askpaul team
Great video Paul....just one question, when you have a company pension and they match 5%..is that of your gross or net pay?
It’s off your gross pay 👍
Thanks Mark - askpaul team
Can you do a video on offset tracker mortgage please
Good idea 👍
This is what they should be teaching I irish schools, not teaching us how to be factory works
Is it expensive to book an appointment with a financial planner?
Hi what's the best way to contact you ???