Cannondale
Registered User
- Messages
- 5
Annual Fees | 2.16% | |
Annual Growth | 4% | |
Pot | 55,000.00 | |
Remain In US $ | Take out in Ireland € | |
1 | 56,013 | 25,526 |
2 | 57,044 | 26,547 |
3 | 58,094 | 27,608 |
4 | 59,163 | 28,713 |
5 | 60,252 | 29,861 |
6 | 61,362 | 31,056 |
7 | 62,491 | 32,298 |
8 | 63,642 | 33,590 |
9 | 64,813 | 34,933 |
10 | 66,006 | 36,331 |
11 | 67,221 | 37,784 |
12 | 68,459 | 39,295 |
13 | 69,719 | 40,867 |
14 | 71,003 | 42,502 |
15 | 72,310 | 44,202 |
16 | 73,641 | 45,970 |
17 | 74,997 | 47,809 |
18 | 76,377 | 49,721 |
19 | 77,783 | 51,710 |
20 | 79,215 | 53,778 |
Difference | -18,307 |
Hi All,
Thank Andrew365 and kevhenry for the replies.
I am 41, so it would another 18.5 years before I can withdraw without penalities.
My financial situation in Ireland currently have mortgage on principal residence amount outstanding 420,000 euro @ 2.85%, 24 years remaining value of home approx 730,000 euro. No other loans, and I have also irish pension fund. If I was to cash it in, that would be plan to use funds to pay down mortgage.
There is obviously currency fluctuations to consider.
Also, when 59.5 years, will I only be deferring my tax to Irish autorities at that stage, when I cash in the IRA?
I am not an expert, so take this with a pinch of salt. There is a tax treaty between Ireland / US, however, according to revenue Foreign pension is taxable income (https://www.revenue.ie/en/jobs-and-pensions/pensions/taxation-of-foreign-pensions.aspx). What is not clear to me is if you take the pension out now and pay the 10% + withholding tax in the US, is the remaining taxed again in Ireland?
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