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tadhg88
Guest
bh
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Financehelp
Guest
I'm not sure why you would want two different PRSA's? It would make life more complicated with regard to working out your tax etc. Eagle Star only sell through brokers so you would need to contact a broker to effect one
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tadhg88
Guest
well my main reason for having 2 is that i can compare them in a couple of years and then put all the funds into the best performing one......
not a good idea????
not a good idea????
No. Making investment decision on the basis of past performance is not a good idea.
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Financehelp
Guest
You can do it but you get hit with 2 sets of charges!
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tadhg88
Guest
2 sets of charges are u sure about this as all charges i have seen are percentages which doesnt increase any charges......
if i cant base my investment decision on past performance what wud u suggest i base it on?????
no im not foolish enuf to think i wud get the government topup twice i was actually thinkin of halving it 3750 each which goes to 5000 each and i thought that was a pretty good idea
if i cant base my investment decision on past performance what wud u suggest i base it on?????
no im not foolish enuf to think i wud get the government topup twice i was actually thinkin of halving it 3750 each which goes to 5000 each and i thought that was a pretty good idea
You should definitely not base it on past performance. You should identify a fund (or funds) that match your risk/reward profile, investment term, age etc. and invest in this (these). For example if you have a long way to go to retirement then you should definitely consider investing in a high risk/reward profile, high equity content (up to 100%) fund. Of course even within this sort of category there are many different options - e.g. index tracking funds that track one or more indices, concentrated funds that invest in a specific number of individual companies etc. Basically that is how you should choose a suitable fund and not based on past performance. If you don't know what to do or don't understand the issues then (a) read up on the issues and (b) consider getting independent, professional advice.
Can you invest in multiple pension funds and avail of the incentive and tax credit on each as long as the total amount is under €7.5K or are you restricted to a single pension?
On the general issue of having multiple pensions in this context it makes no real sense to me either unless there are tangible benefits to be had in terms of diversification, charges, ease of administration etc.