Recently turned 50 and wondering can I hang my boots up and retire? Any words of wisdom would be appreciated!
Single man, living in Dublin, will not be here long term as plan to head west.
Finances
Cash 140k
Pension 1 - approx 850k in previous employer plan, low cost fees and mix of investments
Pension 2 - approx 150k in private pension plan - equity investments
Cash - 140k
DeGiro - approx 130k in mix of stocks and investment trusts
Loan to Private Co of 50K that I receive 6% on...matures Feb 2024
Investment in same Private Company as above of approx 80K (my shareholding approx 1%)
Loan to brother of 100k - unlikely to receive this anytime soon unfortunately as they have 2 kids near college time
Unfortunately whilst I would count myself as financially savvy I never bought a property in Dublin...pay rent of 1900 monthly....big mistake in hindsight and not going to pull the trigger now. Intention will be to move to the west of Ireland where I'm originally from in a couple of years time. I'll take over the parnets home (both alive thankfully) and will share inheritance with my brother. I've no dependents and only need to look after myself. No loans or credit card debt.
I worked in a bank for over 20 years in a well paid but stressful job. Got offered redundancy and jumped at it. Then joined a small private US Company doing something completely different (Contractor). They're going through tough times now and my contract is now without a salary but I get a % for new business brought in. However sales cycle is long - can take years to get a prospect to finally sign up. Income from this could be anything from 0 to 150k.....and payments (if any) would be irregular.
Essentially had a great job but glad I left. New Company means I'm only person in Europe and I can work from anywhere, spent a month in Spain earlier this year with the folks. I spend a lot of time in the West and don't need to travel etc for work. I only do a couple of hours now a week with client calls. Allows me great flexibility to spend time with my folks (82 and 79) and they hugely appreciate it - as lots of time spent in hospitals etc in the last couple of years. In a RPZ with my apartment in Dublin in great location close to City Centre. Want to keep apartment for another couple of years as come up to Dublin to meet friends etc.
Am I entitled to anything from large tax contributions over the years? As not paying regular PRSI now will this affect my government pension in my 60s? Do I need to find a proper 9-5 job or can I hang my boots up?
Thank You
Single man, living in Dublin, will not be here long term as plan to head west.
Finances
Cash 140k
Pension 1 - approx 850k in previous employer plan, low cost fees and mix of investments
Pension 2 - approx 150k in private pension plan - equity investments
Cash - 140k
DeGiro - approx 130k in mix of stocks and investment trusts
Loan to Private Co of 50K that I receive 6% on...matures Feb 2024
Investment in same Private Company as above of approx 80K (my shareholding approx 1%)
Loan to brother of 100k - unlikely to receive this anytime soon unfortunately as they have 2 kids near college time
Unfortunately whilst I would count myself as financially savvy I never bought a property in Dublin...pay rent of 1900 monthly....big mistake in hindsight and not going to pull the trigger now. Intention will be to move to the west of Ireland where I'm originally from in a couple of years time. I'll take over the parnets home (both alive thankfully) and will share inheritance with my brother. I've no dependents and only need to look after myself. No loans or credit card debt.
I worked in a bank for over 20 years in a well paid but stressful job. Got offered redundancy and jumped at it. Then joined a small private US Company doing something completely different (Contractor). They're going through tough times now and my contract is now without a salary but I get a % for new business brought in. However sales cycle is long - can take years to get a prospect to finally sign up. Income from this could be anything from 0 to 150k.....and payments (if any) would be irregular.
Essentially had a great job but glad I left. New Company means I'm only person in Europe and I can work from anywhere, spent a month in Spain earlier this year with the folks. I spend a lot of time in the West and don't need to travel etc for work. I only do a couple of hours now a week with client calls. Allows me great flexibility to spend time with my folks (82 and 79) and they hugely appreciate it - as lots of time spent in hospitals etc in the last couple of years. In a RPZ with my apartment in Dublin in great location close to City Centre. Want to keep apartment for another couple of years as come up to Dublin to meet friends etc.
Am I entitled to anything from large tax contributions over the years? As not paying regular PRSI now will this affect my government pension in my 60s? Do I need to find a proper 9-5 job or can I hang my boots up?
Thank You