Tax-advantaged retirement accounts, or, a general 15-yr plan


What about circumstances where it is wrong?

The 31 year old in question has cash reserves and is throwing off a lot of spare cash.

Advising him not to make AVCs is appalling advice...deliquent stuff. No wonder there's a pensions crisis when people in the OP's circumstances are being steered away from AVCs.

I have never heard such rubbish.

But I agree; the thread should be locked. I have no interest in Sarenco's continuing vendetta against me.
 
Gordon

I am not pursuing a vendetta against you and I have absolutely no idea what gave you that idea.

I didn't advise the OP not to make AVCs - please try to avoid misrepresenting my posts.

I actually said that it seemed entirely reasonable to me that a 31-year old with minimal savings would choose not to make AVCs for a couple of years with a view to building up a larger accessible cash fund to address medium-term needs.

I really don't understand why you insist on denigrating the perfectly reasonable views of other posters in such colourful terms.
 
Sarenco said:
I really don't understand why you insist on denigrating the perfectly reasonable views of other posters in such colourful terms.
Click to expand...

Sarenco,

I do not want to fall out with you and I have always found your contributions to be positive.

But in this instance, I firmly believe that the tack you're taking is off the wall.

However, I suggest we move on and have a proverbial beer.

Gordon
 
I've seen enough and heard enough and cannot see any great value in further contributing to a site where people handle themselves in this manner. There is little doubt that there are many knowledgeable contributors, but there's still a significant case of the uninformed arguing with the uninformed. It has been suggested to Brendan before that he distinguish between the qualified and non-qualified in responses. Unless some amendment is made I'm away i.e. I'm not posting again.

Rory Gillen
Founder, GillenMarkets
 

It's a discussion forum just give your opinion and move on let the OP decide what's the best , criticising others that post opposing views is counter productive .

You have posted an optimum strategy for his cash but it may turn out incorrect in the future we don't know , maybe he saves up this cash - a housing crash comes and he can buy cheap , maybe he saves this cash and needs medical expenses in a foreign country etc . , maybe he just doesn't want to put that much in an AVC till retirement age .

I know people who don't care much for retirement they spend all there money now and enjoy it , they have no interest in what will happen at retirement age , they are probably right , maxing out AVC's is not for everyone.

It is good to get opposing views here otherwise the site would have a section that says max out AVC's with free cash and that's it nobody should even ask a question or else they be shot down.

If your maxing out your AVC's now at such a young age aren't you negating the tax relief as your going to pay tax at high rate when you draw it down ? I'm in 30's and don't max out AVC's you can tell me I'm wrong but I'm happy to have cash in reserves so I can take opportunities that come up like a housing crash etc. It's hard to put a value on oppurtunity cost imo.

I think Sarenco's advice was very sound, it's not like he's advising something controversial like sticking it all on one blue chip company stock, your been grossly unfair to him.
 
Just to recap, the OP already has €12k in cash in an emergency fund. He's throwing off spare cash of €2,500 a month. He's 31 and he'd like to retire early. Following my plan, he'll have €34,000 in cash after 12 months and by contributing €700 a month to the pension, almost €1,500 will end up invested in the pension to provide for his retirement.
 
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