Yes I remember that, it was 1993 I think, the UK devalued forced out of the European monetary system whereby sterling was pegged to European currencies at uncompetitive rate. Then the traders focused on irish punt, irish government denied they would devalue, they didn't want to be seen to follow UK. The markets didn't believe them as UK was still the most important market. Low and behold the irish government devalued and many people reckon that was the catalyst that started the celtic tiger. It wasn't a brilliant strategy by irish government they were forced into itRumors were circulating that Bertie was considering devaluing the punt, so held off on bringing the cash back to an Irish bank (I think they give you about three months before it becomes a non-resident account.) Sure enough, the punt was devalued by 10% which, added to the exchange rate was worth a few extra thousand.
Apt usernamePension! 10 years, maxing AVCs for most of that time. Thanks to AAM, I learnt about fees/passive funds, and stepped out of the default 'lifestyling' approach my provider had everyone in (all bonds/cash by 65!)
This relatively simple investment has the potential to change my life now. I've two paths I'm toying with, continue working in the corporate world, and look to retire early in the next 5 years, or step back from that life and do something else/lower paid, knowing that even I don't contribute further to my pension, compounding will do the work for me, and I'll be secure come retirement time.
@Steven Barrett yes if you earn a high income in a relatively low demanding job. Lots of people earn high incomes but in very demanding high stress jobs, I don't think it's a good decision in that case especially if it starts affecting your health. Nobody is going to pay you a high income unless you are delivering results and that usually comes with high demands
The public sector be a good fit
you were lucky that you survived the dot com crash, was it a high tech mnc like Microsoft, people forget how low companies like Microsoft were valued after dot com crash and for a decade afterwards, bravo if you held onto your shares throughout all thatage 21, owning only a bicycle, a good rucksack and a pair of doc martins, investing in US MNC profit share schemes from payroll, rather than taking and spending the cash .
In 4 yrs until left in '97 spent c.4000 euro, have held on to shares since today, today they are worth a wopping 194,000 euro.
That is 4700% growth.
age 23 buying 1st house , prices 59950 IR£ because of taking up all overtime available.
It was a semiconductor company. For about a decade, they shares were worth v little, since 2010 they started to move!you were lucky that you survived the dot com crash, was it a high tech mnc like Microsoft, people forget how low companies like Microsoft were valued after dot com crash and for a decade afterwards, bravo if you held onto your shares throughout all that
So you made a fortune when you discharged them Eh ? Bum bumIt was a semiconductor company. For about a decade, they shares were worth v little, since 2010 they started to move!
that happened alot of the big tech survivors from the dot com crash, you had to wait a decade to get back in the black. Microsoft didn't take out its 2001 high until 2016, now its the largest market capitalised stock on the planet. In 2010 it was being dismissed as an old tech stock because of the arrival of android and smart phones where Microsoft wasn't a player. Its crazy how the markets can get things so wrong and how many people sold out of Microsoft during its long doldrum yearsIt was a semiconductor company. For about a decade, they shares were worth v little, since 2010 they started to move!
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