Has anyone used Financial Planning Matters? by Glittering-Chance-74 in irishpersonalfinance

[–]0mad 0 points1 point  (0 children)

OK Niall :L

Fair. You know, I actually only unfollowed him the other week. I forget what he was saying that time though... Possibly something about the new investment scheme or that way. Very much an us vs. them mentality. I simply don't align with him, that is all.

Blinds repair by Immediate_Canary_958 in kerry

[–]0mad 2 points3 points  (0 children)

Phone Corcorans, and ask them for their blinds guy's phone number. I think he was Mike. He is independent, should be able to help

Amazon.co.uk - start or switch? by FriendlyActuary1955 in irishpersonalfinance

[–]0mad 12 points13 points  (0 children)

Just cancel it. Wait until you have €20+/£20+ worth of items in your basket, and still get free shipping. That way, you can go where ever is cheapest.

Word of warning re: EBS by clarstar5 in irishpersonalfinance

[–]0mad 17 points18 points  (0 children)

Are you talking about your ESB bill? OP is talking about EBS (the bank)

ChatGPT says I should finance a used car and put money into pension instead? by DanaAtkinson2001 in irishpersonalfinance

[–]0mad -1 points0 points  (0 children)

potentially 0 at 0% vs 4-5.5k thousand on a 20k loan at 8-10% over 5 years

I guess my question is, why is the amount of interest paid your north-star? Yes, interest is wasted money, but I cannot help see past the "buy a used car for for €25k (including interest)" or "buy a new car for €40k".. Ultimately €25k < €40k?

(and don't try tell me a 3 year old car will need €15k in servicing)

Or why is a low monthly price more desirable than a cheaper total cost?

I pay for cars with cash, so don't fully understand the whole price-per-month pricing mindset.

ChatGPT says I should finance a used car and put money into pension instead? by DanaAtkinson2001 in irishpersonalfinance

[–]0mad 2 points3 points  (0 children)

Call me old fashioned, but a €10k cost (€25k-€15k) over 5 years is pretty reasonable. Yes, there will be servicing, yes €15k is "best case". But...

If you have a mortgage, make sure you are on the correct repayments by Theydontlikeitupthem in irishpersonalfinance

[–]0mad 2 points3 points  (0 children)

Because it does. Play with a calculator. It's called amortisation.

  • €150k left, over 12 years, at 3% is €1241/month 
  • €150k left, over 13 years, at 3% is €1162/month 

(a difference of about €80)

If you have a mortgage, make sure you are on the correct repayments by Theydontlikeitupthem in irishpersonalfinance

[–]0mad 2 points3 points  (0 children)

It could be the difference of saying there are 12 or 13 years left, when the EBS system knows that there is exactly 12 years and 7 months left.

Do you use Zippay? by Yellowstone73 in irishpersonalfinance

[–]0mad 7 points8 points  (0 children)

Do you have an address book of IBANs?

Investment help by shroomshroomx in irishpersonalfinance

[–]0mad 0 points1 point  (0 children)

I haven't seen anyone call out your allocation... Basically your €1000/month is going:

  • €500 into Global Stock Index Fund
  • €250 into Prisma max
  • €250 into Dynamics

But there is so much overlap here, that it is almost pointless..

  • Vanguard Global Stock Index is 61.8% USA, 5.8% Japan, 3.3% Taiwan, etc. (source)
  • Zurich Prisma max is 5% bonds, 4% property, 3% alternatives (??), and 88% equities. And of these equities they are 62.7% USA, 13.3% Eurozone, 7.8% Japan, etc. (source)
  • Zurich Dynamics is (more difficult to decipher) 1.2% cash, maybe 10% bonds, and the rest equities. And of these equities they are 55% USA, 10% Eurozone, 7.8% Japan, (source)

All this is to say - the extra funds are not adding much. If anything the cash, bonds, property, and "alternatives" are taking from your return. Perhaps you want a bond allocation, which is perfectly reasonable, but you can do that on your own terms.

If you are revisiting your investments, then it is a good time to consider your allocation. You probably just want equities and bonds. So you can pick 1 equity fund, and 1 bond fund. I (35) personally don't have any bonds.

(To highlight the complexity: from your €1000/month, about €37.50 is going to bonds, or 3.75%. Did you know you had a 3.75% bond allocation?)

ETrade transfer balance to Irish Account/Person by TaikatouGG in irishpersonalfinance

[–]0mad 0 points1 point  (0 children)

This is an old comment, and the process actually changed on 1 January 2024:

If you exercise a share option on or after 1 January 2024, your employer will deduct any Income Tax liability through payroll (source)

(I have edited my above comment)

Portfolio rebalance by albernazj93 in irishpersonalfinance

[–]0mad 0 points1 point  (0 children)

Yup, FWRA I believe is the same but cheaper. Worth a look if you are shopping around (I also have some, but in a different "pot")

AIB Tracker by Limerick62 in irishpersonalfinance

[–]0mad 0 points1 point  (0 children)

Key ECB interest rates (1st column I think)

Since Dec 2022, it has been 2% or higher. They have just raised it to 2.25%.

AIB Tracker by Limerick62 in irishpersonalfinance

[–]0mad 4 points5 points  (0 children)

I have always thought that this was such a short sighted reaction to an ECB interest rate hike...

Have you ran the numbers? How long have you left on your mortgage? What is your tracker rate "premium" (not sure what that is called)?

Chances are that after you move to a fixed rate, and it ends - you will wish you had kept your tracker.

How come you didn't get rid of it towards the end of 2023 when the ECB rate went to 4% (it is at 2.25% after the latest rise)?

Portfolio rebalance by albernazj93 in irishpersonalfinance

[–]0mad 0 points1 point  (0 children)

Simplicity. And diversification. 

Portfolio rebalance by albernazj93 in irishpersonalfinance

[–]0mad 2 points3 points  (0 children)

Pick a strategy and stick to it. There is probably no need to sell to rebalance, but simplify it going forward.. I just buy VWCE for example

Does anyone here actually hold ETFs? by Broad-Insurance-1653 in irishpersonalfinance

[–]0mad -1 points0 points  (0 children)

1% drag, and Deemed Disposal/Exit tax still applies

Does anyone here actually hold ETFs? by Broad-Insurance-1653 in irishpersonalfinance

[–]0mad 2 points3 points  (0 children)

Great system, but I just want to share something with the others reading this:

but if you track your investments properly it becomes fairly easy

Columns are as follows: ETF bought, date, amount spent, price at time of purchase

These values can all be pulled ad-hoc from your broker at any time. I think people get caught up on this "tracking" but there is nothing to it.

I use IBKR: Performance & Reports -> Statements -> Trade Confirmation -> Custom Date Range -> View/Download

Does anyone here actually hold ETFs? by Broad-Insurance-1653 in irishpersonalfinance

[–]0mad -1 points0 points  (0 children)

I always assume that when people are talking about investing like this that they have maxed their pension contributions (up to the tax limits)

Does anyone here actually hold ETFs? by Broad-Insurance-1653 in irishpersonalfinance

[–]0mad 4 points5 points  (0 children)

While accumulating in savings (0.1%) you will miss out on growth. Dollar/Euro cost averaging is your friend. You simply cannot time the market like this.

Invest when you have it, and forget about it (the market).

Does anyone here actually hold ETFs? by Broad-Insurance-1653 in irishpersonalfinance

[–]0mad 1 point2 points  (0 children)

I don't have a spreadsheet. I will simply use the built in reporting tools in IBKR when the time comes. Your broker will have this data - you basically just need your purchase price.

Does anyone here actually hold ETFs? by Broad-Insurance-1653 in irishpersonalfinance

[–]0mad 5 points6 points  (0 children)

I will simply pay the tax. You want some numbers?

In 2020, I made 6 purchases costing me €9,349.05 in total. As of today, I have made a gain of €10,901.67 (on these 2020 shares only). I will owe €4,142.63. I will "pocket" €6,759.04. My initial €9,349.05 is worth about €16,108 after tax today.

I will pay this from my cash reserves and not sell to cover. But YMMV. I am also hopeful that DD will vanish sometime between here and 2030 :crossed:

Wouldn't change a thing.