Interesting suggestion but I'm too risk averse for shares. I looked at investment funds when I retired but was put off by charges and other downsides.
Interesting suggestion but I'm too risk averse for shares. I looked at investment funds when I retired but was put off by charges and other downsides.You should sell the property in the pension fund and buy shares instead. You can then cash it as you wish.
Brendan
Having all your wealth tied up in one or two Irish properties is also risky.Interesting suggestion but I'm too risk averse for shares.
Running a property through your ARF is more expensive than buying shares!! And if it is invested in one property in Ireland, it is even riskier!! What will happen when there is a downturn in the property market? You will be left with an asset that you can't sell. And what are you going to do when your divorce goes through? Be part owner of the property with your ex wife?Interesting suggestion but I'm too risk averse for shares. I looked at investment funds when I retired but was put off by charges and other downsides.
Have to say this sounds like good advice. Though I'm not at all convinced there's a significant property price drop in the offing. I agree this might be a good time to consider a move into an investment fund. One question though: if I can dispose of a good investment property in roughly 3/4 months it wouldn't be accurate to describe as illiquid?Running a property through your ARF is more expensive than buying shares!! And if it is invested in one property in Ireland, it is even riskier!! What will happen when there is a downturn in the property market? You will be left with an asset that you can't sell. And what are you going to do when your divorce goes through? Be part owner of the property with your ex wife?
You should have enough money after your divorce to buy a place, have cash left over and your ARF. It is up to you whether you opt to pick an option that will provide you with the income you need (you don't have to invest it all in shares, there are plenty of other options) or continue hanging onto an illiquid asset and complaining that you don't have enough money.
Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)
Irish Life have stopped people taking money out of their property fund...Have to say this sounds like good advice. Though I'm not at all convinced there's a significant property price drop in the offing. I agree this might be a good time to consider a move into an investment fund. One question though: if I can dispose of a good investment property in roughly 3/4 months it wouldn't be accurate to describe as illiquid?
Yes it is. From the time to decide to put it up for sale to when conveyancy is completed, you are looking at more than 3/4 months. In a bad market, you could have it up for sale for over a year. compare that to equities, where you will have the money in a week no matter what the market conditions are like.Have to say this sounds like good advice. Though I'm not at all convinced there's a significant property price drop in the offing. I agree this might be a good time to consider a move into an investment fund. One question though: if I can dispose of a good investment property in roughly 3/4 months it wouldn't be accurate to describe as illiquid?