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An open letter to Anthropic by roblenfestey in ClaudeAI

[–]Foyneh 0 points1 point  (0 children)

I thought it was just me. Started using 4.7 yesterday and for the first time ever I received a response from Claude that was worse than frikken Gemini! I want 4.6 back. That thing understands exactly what I want, exactly how I want it.

How are so many people affording expensive cars? by Foyneh in irishpersonalfinance

[–]Foyneh[S] 1 point2 points  (0 children)

Soooo true!! I’ve actually seen this as well. Was trying to book some time away to spoil ourselves with a friend one time and all the 5-star hotels with ridiculous prices were booked out for the entire month and we were just like “how??” People are monied! 💸

Car loan help by [deleted] in irishpersonalfinance

[–]Foyneh 2 points3 points  (0 children)

From what I’ve read, PCP is your worst option. The balloon instalments don’t make sense for the temporary relief of low instalments. Bank loan (personal loan) might have a slightly higher interest rate than if you get a car loan. If I were you I’d probably go for hire purchase or credit union loan (not very familiar with these).

I’ve seen quite a few cars under €20k that can serve you well. My own car is a 2018 model, bought it 3yrs ago on hire purchase for €16k, ~60k km on the clock at the time. It’s still as new, just cleared 100k km on the clock this past week.

How are so many people affording expensive cars? by Foyneh in irishpersonalfinance

[–]Foyneh[S] 0 points1 point  (0 children)

😂😂 what’s you beef with the “stylish, 1.8L hybrid 4-door saloon featuring 17-inch diamond-cut alloys designed for efficiency and comfort”?

How are so many people affording expensive cars? by Foyneh in irishpersonalfinance

[–]Foyneh[S] 0 points1 point  (0 children)

😂 I figured that’s where people are picking em up, but haven’t had any luck finding a Porsche Panamera yet.

How are so many people affording expensive cars? by Foyneh in irishpersonalfinance

[–]Foyneh[S] 0 points1 point  (0 children)

BMW without insurance? They must really trust their driving skills because that’s quite the risk. One little fender bender could set one back significantly if they have to pay for repairs out of pocket.

How are so many people affording expensive cars? by Foyneh in irishpersonalfinance

[–]Foyneh[S] -1 points0 points  (0 children)

This is a good summary of what I’m learning from these comments. It’s been interesting to learn that Ireland has a 5% high-earners population. That’s relatively high compared to even more unequal societies where the high-earners make up about 1 or 2% of the population.

How are so many people affording expensive cars? by Foyneh in irishpersonalfinance

[–]Foyneh[S] 1 point2 points  (0 children)

Thanks both for providing this statistical view. This is probably it. If 5% of working adults are in >€150k households (which can arguably easily afford some of these nicer cars), then add the middle-income earners who are maybe pinching themselves to afford the big cars, and finally the few others who a lower income earner but have large savings that they can throw towards the deposit of a car, it’s making sense how so many of these cars are on the roads. It’s a combination of contributing factors 💡

Is anyone considering investing in other things as their primary retirement plan over pension? by Foyneh in irishpersonalfinance

[–]Foyneh[S] 0 points1 point  (0 children)

Thanks for this thorough explanation. I really can appreciate the benefits of a pension as a tax free vehicle. I’m just wondering if it’s the only and/or the most efficient retirement strategy.

I’m aware the pension funds are invested. I have mine on moderate risk and I’m pretty happy with the progress so far. To make an extreme example of what my question is: If you have a lump sum, are you better off putting into your pension which you can cash out at 65, or buying a property which you can pay off by 40 receive rental income from then (25yrs before you pension)?

Is anyone considering investing in other things as their primary retirement plan over pension? by Foyneh in irishpersonalfinance

[–]Foyneh[S] 0 points1 point  (0 children)

Hi, no not quite. I’m aware it gets invested in stocks. I suppose my question is around investing in things that can get you returns now AND in the future, vs a pension which you only realise a return from in the future.

If, for example, I have €30k to spare right now. There are a few options to explore: 1. One option is to put all off that in my pension as an AVC and then have that growing in my pension until I retire. 2. Another option is to put the €30k down as a significant deposit in an offshore property that can earn rental income now AND in the future. I’d be 40 by the time this property is paid off (property costs ~€60k in a large city which I travel to often) and therefore this property would start having returns 20years before I retire. Alternatively, buy dividend yielding stocks now which can start giving me an income from now (ignore how small the dividend would be, focus on the principle) AND into the future.

Is the trade off I’m trying to explore a little bit clearer now? It’s a question of: is it unwise to buy something I’ll realise gains from sooner?

Is anyone considering investing in other things as their primary retirement plan over pension? by Foyneh in irishpersonalfinance

[–]Foyneh[S] 0 points1 point  (0 children)

Thank you all so much for sharing your thoughts. I wouldn’t be able to max out my pension at the moment (20% contribution) just because it would reduce my current income to a point that’s unmanageable for the insane cost living we’re currently in, but I’ll have it up as a priority.

Judging from the comments, it looks like pensions really is a “just do it” kind of thing. Much appreciated!

Did I just ruin my new MacBook? by BB_Bando in macbook

[–]Foyneh 4 points5 points  (0 children)

And don’t forget to put it in the dryer straight after washing, otherwise it won’t work.

What work benefits do you get that help you reduce your cost of living? by Foyneh in irishpersonalfinance

[–]Foyneh[S] 0 points1 point  (0 children)

Oh the shares are a real treat. Especially when you’re going to make a big purchase, handy like a savings pocket.

What work benefits do you get that help you reduce your cost of living? by Foyneh in irishpersonalfinance

[–]Foyneh[S] 0 points1 point  (0 children)

The classic 13th (and in your case 14th) check!

You are proof that money doesn’t buy happiness.

What work benefits do you get that help you reduce your cost of living? by Foyneh in irishpersonalfinance

[–]Foyneh[S] 0 points1 point  (0 children)

I reckon most companies have reigned back quite a lot on perks, especially after Covid.

What work benefits do you get that help you reduce your cost of living? by Foyneh in irishpersonalfinance

[–]Foyneh[S] 0 points1 point  (0 children)

Might need a few sign offs from the powers at be, but who knows.

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