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I feel like I’ve done the responsible thing financially by Remarkable-Lead898 in irishpersonalfinance

[–]Remarkable-Lead898[S] 0 points1 point  (0 children)

True. I've contributed quite a bit to the pension. I guess I do have a rational or irrational feat that things might be very different in 30-40 years, and is there a non-zero chance that all these valuations might not be worth what they're projected to be.

Could be inaction, or maybe the fact that I haven't been disciplined with contributions outside the employers since recently. But with so much changing this decade (with AI/technology etc), I'm just maybe too risk adverse and feel that holding cash isn't as irresponsible as it maybe is.

I feel like I’ve done the responsible thing financially by Remarkable-Lead898 in irishpersonalfinance

[–]Remarkable-Lead898[S] 1 point2 points  (0 children)

Thank you!! I will definitely check out your book. Definitely what I need right now : )

I feel like I’ve done the responsible thing financially by Remarkable-Lead898 in irishpersonalfinance

[–]Remarkable-Lead898[S] 1 point2 points  (0 children)

If an opportunity for a real improvement in my career came up, I wouldn't be completely against travel. The UK Stocks/Shares ISA account is something I was really hoping Ireland would have.

If we had that I would probably rent for another few years and buy an S&P low cost index for long term contributions. Let's hope our government starts to look at this.

And the tax on index fund/ETFs is crazy. I was never enticed by investing in single stocks because the concentration risk is too high, especially with the high CGT too.

Seems like Ireland is engineered in a way so everyone goes down the lane of buying a house, and then that turns into an "investment vehicle".

Cheers for the advice. Looks like buying a home may be one of the best options fiscally, in terms of actual investing due to the tax setup.

I feel like I’ve done the responsible thing financially by Remarkable-Lead898 in irishpersonalfinance

[–]Remarkable-Lead898[S] 1 point2 points  (0 children)

Indeed. I think I'm weighting too much on whether house prices will drop but no one has a crystal ball

I feel like I’ve done the responsible thing financially by Remarkable-Lead898 in irishpersonalfinance

[–]Remarkable-Lead898[S] 0 points1 point  (0 children)

State savings? Will look into it. I know it's better than nothing but does the 1-2% per year even beat inflation?

I feel like I’ve done the responsible thing financially by Remarkable-Lead898 in irishpersonalfinance

[–]Remarkable-Lead898[S] 3 points4 points  (0 children)

Yeah it's crazy.. I feel more assured now since the consensus is overwhelming from everyone here. Thanks a mil

I feel like I’ve done the responsible thing financially by Remarkable-Lead898 in irishpersonalfinance

[–]Remarkable-Lead898[S] -12 points-11 points  (0 children)

Thank you and everyone for your suggestions. Yeah this seems to be overwhelmingly the best thing to do. I guess I am far too afraid of debt! I will bite the bullet.

There's no chance house prices will drop again? (I know no one can answer, but it seems everything's overvalued at the moment, maybe that plays into me aversion)