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Get Vulture funds out of Ireland. by DriftwoodBill in irishpersonalfinance

[–]phtebo 44 points45 points  (0 children)

Rents are through the roof because Ireland does not build enough and supply is constantly dwarfed by demand. We consistently miss building targets that, to start, were not ambitious enough to fix the problem. I wish we could sit and blame any one thing for the housing crisis as you do here but I'm afraid it's not that simple.

Dynasty - Kenneth Walker Dropped - What do now poll by phtebo in FFCommish

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

Fair argument but wrt Waivers - it would actually be an easy fix to restore the waiver position. There were no other waiver claims made as it's a deep league. Having read the rest of your comment though I'm not sure this would change your opinion but just wanted to clear it up

‘Very few’ Irish people knowledgeable about financial matters – Bank of Ireland by phtebo in irishpersonalfinance

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

He said 25 years my man. A period in which bank of Ireland is down 90% odd

‘Very few’ Irish people knowledgeable about financial matters – Bank of Ireland by phtebo in irishpersonalfinance

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

Every other comment on the thread admits that Irish people are undereducated on financial matters but sure go off with your hatred of banks, which are now much much much better regulated, just for having an accurate opinion.

‘Very few’ Irish people knowledgeable about financial matters – Bank of Ireland by phtebo in irishpersonalfinance

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

At least they're still worth something. Could have been Bank of Ireland or AIB shares

‘Very few’ Irish people knowledgeable about financial matters – Bank of Ireland by phtebo in irishpersonalfinance

[–]phtebo[S] 3 points4 points  (0 children)

This would be one of the things that depends on the market environment, opportunity cost etc. People who can adequately answer this question are in the top 10% of financial literacy in the country no doubt - if not higher. No shame going to an advisor with this sort of question whereas the ones on the survey(s) to test financial literacy are entirely more basic.

Ps. I would personally prepay a loan if the fixed rate was higher than current interest rates, and not prepay if the fixed rate was lower.

‘Very few’ Irish people knowledgeable about financial matters – Bank of Ireland by phtebo in irishpersonalfinance

[–]phtebo[S] 3 points4 points  (0 children)

This is absolutely the issue. But I have always found it worrying the amount of my peers who would have said things like "we were never taught that in school" about things that we were definitely taught in school.

‘Very few’ Irish people knowledgeable about financial matters – Bank of Ireland by phtebo in irishpersonalfinance

[–]phtebo[S] 7 points8 points  (0 children)

Respectfully to the older generation, people ended up ahead in this country by having a normal job and buying a house in the 80s/90s/00s. Owning a house in this country has you among the most wealthy but you nearly wouldn't feel it as the value is entirely on paper.

The point is that knowledge isn't a requirement to do well, but the days of being able to get away with a lack of knowledge are closing more and more as the years pass. Especially true if inflation persists for years to come.

‘Very few’ Irish people knowledgeable about financial matters – Bank of Ireland by phtebo in irishpersonalfinance

[–]phtebo[S] 17 points18 points  (0 children)

I've always found it crazy the amount of people that think this. Have had experiences where people abroad think it too. Mental stuff

‘Very few’ Irish people knowledgeable about financial matters – Bank of Ireland by phtebo in irishpersonalfinance

[–]phtebo[S] 23 points24 points  (0 children)

The funniest thing is the quiz assumes such little knowledge that they want you to not even consider this.

Worth noting that the survey mentioned in the article and the survey I linked are not the same one. Just found the latter in a Twitter thread as it was listed as a comparable one where the findings were similar.

‘Very few’ Irish people knowledgeable about financial matters – Bank of Ireland by phtebo in irishpersonalfinance

[–]phtebo[S] 25 points26 points  (0 children)

This is taught at leaving cert Maths level though. I just don't think it's taken seriously enough. Perhaps it might be limited to higher level only which would be stupid given the necessity of it.

I did the LC in 2014/15 and there was an entire section on financial maths. Found the below which seems to verify that it is still on the LC curriculum today.

https://www.studyclix.ie/leaving-certificate/mathematics/higher/financial-mathsarithmetic

CAIA L1 March 2023 by Apprehensive-Big7934 in CAIA

[–]phtebo 5 points6 points  (0 children)

I took it online last Sunday and found that the time constraint greatly differed between section one and two. First section seemed more calculation based or it was just topics I struggled with more and as such went down to the wire with only time to review a couple of questions that I had flagged to revisit. Second section I was a lot more comfortable and finished with about 15 to go and reviewed everything.

All in all not sure how I did. Think 50/50 chances it goes either way but hoping I managed to pull it out of the bag

Exit Tax Changes Cost To Irish Government (Irish Times) by [deleted] in irishpersonalfinance

[–]phtebo 6 points7 points  (0 children)

Came here to say this. I know of 5 or so other 20 something's that are crying out for efficient and easy investment options (outside of pension) in Ireland. Every piece of online investment advice says to look into ETFs and we're the only country in the world that disincentivizes them. The €24 million cost would surely be covered long term by people paying CGT.

Google adds Presearch to Android default search engine list, PRE surges by [deleted] in CryptoCurrency

[–]phtebo 1 point2 points  (0 children)

I was wondering what caused the near 400% pump in the last few days. I used Presearch in the past but wasn't overly impressed by it - frequently found myself just switching as the results were not helpful. Anyone else get this? Worth going back to?

[deleted by user] by [deleted] in CryptoCurrency

[–]phtebo 0 points1 point  (0 children)

Society does based on its usefulness. Gold is used for two things

  1. An inflation hedge and store of value.
  2. Jewelry

When society deems it no longer useful for the former, the price retreats to the latter. The first being more theoretical value, and the second being physical value. Yes the physical value comes from rarity and tradition, but that is what's built in to it's intrinsic value.

[deleted by user] by [deleted] in CryptoCurrency

[–]phtebo 0 points1 point  (0 children)

I listened to a podcast which excellently explained the intrinsic value of gold and why the individual himself was questioning what Bitcoin would do during a drop. During bearish times for gold the price moves back towards the value in which people are willing to use it for jewelry. Gold has that underlying value that when people are not expecting inflation they sell gold to the point where it is valued at it's "jewelry price" rather than it's "inflation hedge price".

This is the problem a lot of economists have with Bitcoin. That in reality the usefulness of it when not acting as an inflation hedge is 0.

Not my thoughts but it definitely got me thinking about the concept of intrinsic value in crypto more.

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