What's your job & salary

TheAnalyst_

[Deleted User] wrote: »

I'm an Analist. Cash job, make a fortune. Also make shît up

Why would I lie ?

TheAnalyst_

TheAnalyst_ wrote: »

Why would I lie ?

Because you're an Analist

TheAnalyst_

[Deleted User] wrote: »

Because you're an Analist

What does that mean ?

tails_naf

notAMember wrote: »

Apologies for the unsolicited feedback, but your pension contributions are quite low. If you can afford it, bump up those AVCs.

Pensions are a pure scam, if you've money invest it independently, and skip the AVCs. Sure you get a bit of a tax break, but the returns are abysmal even when the general market returns are decent.

OEP

tails_naf wrote: »

Pensions are a pure scam, if you've money invest it independently, and skip the AVCs. Sure you get a bit of a tax break, but the returns are abysmal even when the general market returns are decent.

Depends on what kind of fund you put it in

domrush

tails_naf wrote: »

Pensions are a pure scam, if you've money invest it independently, and skip the AVCs. Sure you get a bit of a tax break, but the returns are abysmal even when the general market returns are decent.

Rubbish

Bobeagleburger

tails_naf wrote: »

Pensions are a pure scam, if you've money invest it independently, and skip the AVCs. Sure you get a bit of a tax break, but the returns are abysmal even when the general market returns are decent.

You're doing pensions wrong then.

Awful advice and I'd urge everyone to not listen to it tbh. In fact, it's probably the worst piece of financial advice I've read on here.

Dante

tails_naf wrote: »

Pensions are a pure scam, if you've money invest it independently, and skip the AVCs. Sure you get a bit of a tax break, but the returns are abysmal even when the general market returns are decent.

That is incredibly stupid advice.

AndrewJRenko

fvp4 wrote: »

What’s that to you though?

In general if there is a reason for the meeting to be held there they can expense some but not all of the trip. Not the entry to the F1, unless that was for a client.

The real reason for the meeting to be held there is to provide an F1 junction for the husband and wife who run the business. They'll find a compliant client to bring along for the ride too. The joys of self-employed business ownership.

HillCloudHop

What good is a pension when you'll either be too old or dead to enjoy it?

Interested Observer

HillCloudHop wrote: »

What good is a pension when you'll either be too old or dead to enjoy it?

You can tell us when you find out.

Geuze

HillCloudHop wrote: »

What good is a pension when you'll either be too old or dead to enjoy it?

My father retired at 62/63.

His pensions provide him with income, and will do so for hopefully at least 25 years.

Creamy Goodness

Whatever people thinking people are telling lies here, saying that pensions are a waste of time is perhaps the biggest lie of the thread so far.

Paul_Mc1988

Deeper Blue wrote: »

Most of them aren't real so I wouldn't worry

You have nothing to back up that statement. Nearly all my friends would clear 60k+ and quite a few on 90k+. We all work in tech/trade jobs. It's usually low earners who spout the BS as they picked low earning fields and need to lie to themselves to perk themselves up.

tails_naf

6 wrote: »

You're doing pensions wrong then.

Awful advice and I'd urge everyone to not listen to it tbh. In fact, it's probably the worst piece of financial advice I've read on here.

Thats the problem, the folks (pension providers in Ireland) who do them are doing them wrong. They get paid the same % from my pension pot no mater if the fund has a good or bad return. In most cases the 'management' they are doing is buying a vanguard fund anyway, so they are just middlemen taking a cut. When the NASDAQ outperorms a 'growth' fund significantly, its clear these are a scam. You can bet folks with real money are not using it for AVCs, but are getting it properly invested. As it happens I do pay into a pension fund, but only as my employer matches employee contributions, so that's a good return despite the funds poor performances on average.

tails_naf

Geuze wrote: »

My father retired at 62/63.

His pensions provide him with income, and will do so for hopefully at least 25 years.

Sure, but if it's astandard/ private pension (i.e. Not defined benefit) I'd bet in real terms that income is a small portion of his final salary, despite pretty large contributions over the years. I put in over 18k last year (employer and employee), yet my projected return per annum is pitiful, less tha 20k in today's money. So contribute for 40 years and get paid back less, for 25 (if you live that long). Nice.

Buddy Bubs

tails_naf wrote: »

Thats the problem, the folks (pension providers in Ireland) who do them are doing them wrong. They get paid the same % from my pension pot no mater if the fund has a good or bad return. In most cases the 'management' they are doing is buying a vanguard fund anyway, so they are just middlemen taking a cut. When the NASDAQ outperorms a 'growth' fund significantly, its clear these are a scam. You can bet folks with real money are not using it for AVCs, but are getting it properly invested. As it happens I do pay into a pension fund, but only as my employer matches employee contributions, so that's a good return despite the funds poor performances on average.

My pension fund turns 300 euro into 500 euro automatically every month. Then it gets invested.
Try beat that

OEP

tails_naf wrote: »

Thats the problem, the folks (pension providers in Ireland) who do them are doing them wrong. They get paid the same % from my pension pot no mater if the fund has a good or bad return. In most cases the 'management' they are doing is buying a vanguard fund anyway, so they are just middlemen taking a cut. When the NASDAQ outperorms a 'growth' fund significantly, its clear these are a scam. You can bet folks with real money are not using it for AVCs, but are getting it properly invested. As it happens I do pay into a pension fund, but only as my employer matches employee contributions, so that's a good return despite the funds poor performances on average.

Folks with real money don't pay 40% income tax on the money they invest though, it's done through companies

Iguarantee

Buddy Bubs wrote: »

My pension fund turns 300 euro into 500 euro automatically every month. Then it gets invested.
Try beat that

Executive pension? Snap!

Buddy Bubs

tails_naf wrote: »

Sure, but if it's astandard/ private pension (i.e. Not defined benefit) I'd bet in real terms that income is a small portion of his final salary, despite pretty large contributions over the years. I put in over 18k last year (employer and employee), yet my projected return per annum is pitiful, less tha 20k in today's money. So contribute for 40 years and get paid back less, for 25 (if you live that long). Nice.

For someone that thinks pensions are a waste of time, putting 18k into it in a year seems a strange thing to do. Or a lie.

tails_naf

Creamy Goodness wrote: »

Whatever people thinking people are telling lies here, saying that pensions are a waste of time is perhaps the biggest lie of the thread so far.

Pension providers have no incentive to perform well on the funds they offer. You have to buy one of their funds to get the tax breaks, they get paid exactly the same if they perform well or not. For the average Joe, they are the only option, but show me one with a good return, please before you tell me how great they are

tails_naf

Buddy Bubs wrote: »

For someone that thinks pensions are a waste of time, putting 18k into it in a year seems a strange thing to do. Or a lie.

My employer matches my contrib plus 2 % up to 8%, I put in 8%, they put in 10%. The maths is easy to work out. No. Lies, but if it was not for that contribution match making it a good deal, the return would be poor.

Buddy Bubs

tails_naf wrote: »

My employer matches my contrib plus 2 % up to 8%, I put in 8%, they put in 10%. The maths is easy to work out. No. Lies, but if it was not for that contribution match making it a good deal, the return would be poor.

Well there's mine. See pic attached. 54% growth over the last 5 years. Plus the tax relief I get. Plus my employers contribution.

I know I pay charges on that but it's still very significant returns.

tails_naf

Buddy Bubs wrote: »

Well there's mine. See pic attached. 54% growth over the last 5 years. Plus the tax relief I get. Plus my employers contribution.

I know I pay charges on that but it's still very significant returns.

And the NASDAQ has grown 198% over the same time. Still think it's an amazing investment?

Padre_Pio

Average life expectancy in Ireland is 82.

Retirement age is 66. 16 years of retirement on average.

While the retirement age is guaranteed to rise, so will life expectancy.
The people who are dying at 82 today were born when Hitler was marching armies into Poland. Antibiotics had only been discovered 10 years previous.

domrush

reubenreuben wrote: »

While I see the benefit of pensions having one myself, the other side of this argument is that it is only any good if you survive to use it.

Most contributory pensions go to your dependents in the event of a death.

Why save for anything at all if this is your view point?

Geuze

reubenreuben wrote: »

While I see the benefit of pensions having one myself, the other side of this argument is that it is only any good if you survive to use it.

The average length of retirement is 18.2 years in 2008.

helloquestion

35k base or 40k with bonuses, MNC company am 25 years old, with bachelors degree

Andrea B.

Deleted post in case of colleagues identifying me. Sorry.

Interested Observer

tails_naf wrote: »

And the NASDAQ has grown 198% over the same time. Still think it's an amazing investment?

Oversimplified but:

1) Invest in NASDAQ:
I earn 1k gross, I take home about 650. I invest it in the NASDAQ for 5 years and it grows 198%, leaving me with ~2k in total and ~1350 in gains. I pay 40% exit tax on the gains and end up with a total of 650 + 810 = 1460

2) I put it in my pension:
I earn 1k gross to go into my pension: (I think) I pay USC and PRSI at 11% so 890 goes into the pension. My employer matches it and it's already more than the above without any gains calculated...