Hello all
I would greatly appreciate any insight you can give me on the following:
I am a self-employed writer with scalable income. I am looking to set up a minimalist investment pension using a low-cost ETF index approach, probably with a world equity tracker and bonds. Nothing fancy. Realistically, I have 25 years left before retirement (in early 40s now), and am willing to go for long-term performance and minimalist fees in an attempt to make up for lost time.
Doing this in Ireland seems to be more tricky than expected. Research tells me that the most cost efficient way to do this is to set up a self-directed PRSA with ITC. But I have read on this board that one needs to have a €20,000 fund to begin with and €1,000 minimum monthly payments. Is there any other way to do this with a more modest starter fund and monthly contributions?
I could just set up an investment account on DeGiro and approach this outside an Irish pension scheme but then there would be the issue of the eight-year tax on accumulating funds, exit tax and no doubt other details I am missing. Any advice greatly appreciated.
I would greatly appreciate any insight you can give me on the following:
I am a self-employed writer with scalable income. I am looking to set up a minimalist investment pension using a low-cost ETF index approach, probably with a world equity tracker and bonds. Nothing fancy. Realistically, I have 25 years left before retirement (in early 40s now), and am willing to go for long-term performance and minimalist fees in an attempt to make up for lost time.
Doing this in Ireland seems to be more tricky than expected. Research tells me that the most cost efficient way to do this is to set up a self-directed PRSA with ITC. But I have read on this board that one needs to have a €20,000 fund to begin with and €1,000 minimum monthly payments. Is there any other way to do this with a more modest starter fund and monthly contributions?
I could just set up an investment account on DeGiro and approach this outside an Irish pension scheme but then there would be the issue of the eight-year tax on accumulating funds, exit tax and no doubt other details I am missing. Any advice greatly appreciated.