Morgan 2.0
Registered User
- Messages
- 19
I've visited pensionsboard.ie etc, read their stuff, but to be honest I'm not finding the information I'm looking for at all. It's there I think, but it's buried pretty well from me!
There is so much bloody minded jargon, so I thought I'd come here and ask in case any of you were in the same situation.
I'm sorry if this repeats stuff already on the forum, but I looked through it and couldn't find what I'm looking for.
What I want:
To have the flexibility to invest in small value indices on a purely buy & hold basis for between three and four decades. (I'm 21) I've found that if I buy small value ETFs that I pay far lower fees (a transaction fee, and then just 0.4% per year, which is ok for Ireland but still ****e compared to other jurisdictions)
Anyway I'm trying to make this as tax efficient as possible. I believe a 23% gross rollup tax applies to what the revenue calls "collective investment schemes" or what I call stock funds/ETFs, so I'm trying to avoid being hammered by this 23% when I come to collect the moolah. I'm aware there is there an 8 year tax collection thing the revenue have going on, but I'm not excatly clear on how it works. Anyway, I want to avoid that too!
Is there a way to use the pension schemes available to allow you to make your own investment choices? As a buy & hold investor, I'm quite happy to sign documents to prevent me from withdrawing from my portfolio until a certain age. If this there is way to do this, then do you know how it works?
Thanks! It would be great relief if you could help me, I like my eggs lined up neatly in the respective rows and this thing is getting to me.
There is so much bloody minded jargon, so I thought I'd come here and ask in case any of you were in the same situation.
I'm sorry if this repeats stuff already on the forum, but I looked through it and couldn't find what I'm looking for.
What I want:
To have the flexibility to invest in small value indices on a purely buy & hold basis for between three and four decades. (I'm 21) I've found that if I buy small value ETFs that I pay far lower fees (a transaction fee, and then just 0.4% per year, which is ok for Ireland but still ****e compared to other jurisdictions)
Anyway I'm trying to make this as tax efficient as possible. I believe a 23% gross rollup tax applies to what the revenue calls "collective investment schemes" or what I call stock funds/ETFs, so I'm trying to avoid being hammered by this 23% when I come to collect the moolah. I'm aware there is there an 8 year tax collection thing the revenue have going on, but I'm not excatly clear on how it works. Anyway, I want to avoid that too!
Is there a way to use the pension schemes available to allow you to make your own investment choices? As a buy & hold investor, I'm quite happy to sign documents to prevent me from withdrawing from my portfolio until a certain age. If this there is way to do this, then do you know how it works?
Thanks! It would be great relief if you could help me, I like my eggs lined up neatly in the respective rows and this thing is getting to me.