spiritualseeker1989
New member
I'm 40 and have (almost) no retirement savings. Ooops!
Fortunately I am the owner of a limited company with decent cashflow and a paid off house. I read here my limited company should be able to make unlimited pension contributions with no BIK, income limits, etc. in 2023.
My accountant suggested I use nfs.ie. NFS is proposing I go with a New Ireland non-standard PRSA that has
I kinda feel like saving for a pension is a waste anyway, since Ireland's demographics mean it will be very tempting for future governments to raid private pensions to fund public ones, but I figure I should at least stick money in to this that is currently getting taxed at 52%. If taxes weren't so high I'd do the MrMoneyMoustache thing and just save in index funds but that's less appealing here. I plan to live outside Ireland in retirement (probably still in EU)
Anything I'm missing? Thoughts? Is there a cheaper option? I don't really like actively managed funds that much...
Fortunately I am the owner of a limited company with decent cashflow and a paid off house. I read here my limited company should be able to make unlimited pension contributions with no BIK, income limits, etc. in 2023.
My accountant suggested I use nfs.ie. NFS is proposing I go with a New Ireland non-standard PRSA that has
- 1.25% annual fee (1% to New Ireland, .25% to NFS)
- no contribution fee
- Additional .25% fee for the particular Goodbody funds they recommend
I kinda feel like saving for a pension is a waste anyway, since Ireland's demographics mean it will be very tempting for future governments to raid private pensions to fund public ones, but I figure I should at least stick money in to this that is currently getting taxed at 52%. If taxes weren't so high I'd do the MrMoneyMoustache thing and just save in index funds but that's less appealing here. I plan to live outside Ireland in retirement (probably still in EU)
Anything I'm missing? Thoughts? Is there a cheaper option? I don't really like actively managed funds that much...