Understanding investment in Ireland

TedSmith1

Registered User
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1
Hi,

Thanks in advance for any guidance. I am trying to get my head around this and wondering if I am missing something.

current situation: 60k saved
Age: early 30’s
No mortgage
UK student loan: however due to payment structure I would be insane to overpay.
Pension, company contribution and avc of 2k

I am trying to work out what is best to do with my money going forward for the next 5/10 years. At present my savings are with KBC. After doing research I am leaving towards future monthly investments into a few EFTs (initially 400€ a month) I am aware taxation is at the 41% however unless I am missing something even at conservative return of 3%P.A this still seems to make more sense than to just continue putting the money into my KBC account? I have read a lot around the Irish tax system not being great for investing however with my saving account interest so low surely higher tax on any investment profit will still leave me better off?

I appreciate investing in my pension is the best idea from a tax perspective however I would like to have easier access to this money, and I will be continuing to increase my AVC YoY.
 
have read a lot around the Irish tax system not being great for investing however with my saving account interest so low surely higher tax on any investment profit will still leave me better off?
Yes but what if you make a loss?

You should provide all the info asked for in the money makeover forum. You'll get much more useful information if you use the template
 
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