I expect to have to decide at some point whether to retire early or to continue earning in order to help out my adult children. Tricky.Speaking of the next generations wealth creating machine.....
surely people are free to get married wherever they want, if anything it helps thin out the crowd coming so you get people who really want to be there as opposed to people coming because they think they should.
I expect to have to decide at some point whether to retire early or to continue earning in order to help out my adult children. Tricky.
I expect to have to decide at some point whether to retire early or to continue earning in order to help out my adult children. Tricky.
If you teach your children to be responsible with money you will never have to help your adult children out financially. By all means pay for their education but after that the next time I would give them money would be through an inheritance.
If you are happy that your kids have the right work ethic and appreciate the help, I don't see any problem with helping them out with a deposit.
If you teach your children to be responsible with money you will never have to help your adult children out financially. By all means pay for their education but after that the next time I would give them money would be through an inheritance.
At the time you are retiring It may be worth looking to see if you have Inheritance money tied up in your pension ,Worth looking at taking extra out at 20% rate and feeding it into kids pension pot while there are good tax breaks Inheritance left in an ARF will be taxed at 30% I suspect long term it will not go lower and tax breaks may be gone or lowered I suspect in the future,If you teach your children to be responsible with money you will never have to help your adult children out financially. By all means pay for their education but after that the next time I would give them money would be through an inheritance.
If they are able to start paying down there mortgage straight away the may not need it as much as you think, I suspect making sure the start a pension would be a better investment of Inheritance money,I agree 100% with this. The way things are going it will be almost impossible for anyone leaving 3rd level to save enough (whilst paying high rents) to buy somewhere. At least with a deposit they can start paying down the mortgage straight away
No offence but this is the root of the oirish psych now. Do you think we all started off on 50k a year before now and managed to buy houses before we were 25 ?What if your child decides they want to be a nurse, starting on a salary of €23,000 or they want to work in child care and don't earn much over minimum wage? No matter how responsible they are with their money, they will struggle with getting on the property market.
No offence but this is the root of the oirish psych now. Do you think we all started off on 50k a year before now and managed to buy houses before we were 25 ?
Retired2017 above has written it a bit more eloquently than me though
Where does this stuff come from about teachers/nurses/guards being underpaid! The average nurse's salary in Ireland is €57k. Teachers aren't far off that when they reach top of the scale also and have tremendous holidays/work hours.If one of my kids wants to do something that is of value to society but underpaid relative to other roles (e.g. nurse or primary school teacher), on their own they will struggle to buy a nice house in a decent area.
Where does this stuff come from about teachers/nurses/guards being underpaid! The average nurse's salary in Ireland is €57k. Teachers aren't far off that when they reach top of the scale also and have tremendous holidays/work hours.
And lets not even start on the pensions which somehow always seem to be forgotten about!
Where does this stuff come from about teachers/nurses/guards being underpaid! The average nurse's salary in Ireland is €57k. Teachers aren't far off that when they reach top of the scale also and have tremendous holidays/work hours.
And lets not even start on the pensions which somehow always seem to be forgotten about!
With the word underpaid before itWhere did I say that they’re underpaid?
Note my use of the term “relative”.
Excellent idea. Could this be worked into a policy and is there any group across the political spectrum that would oppose it?its not that they are underpaid, but they are underpaid to live in Dublin. For most people id say live elsewhere but for people that we need i.e. nurses, teachers, police, ambulance workers etc i have a different view. Actually thats where i think social housing should be targetted, or at least the social houses that form part of private estates.
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