€1 million+ to leave behind

At the rush of detailing the thread further....

How would you feel about birthday presents being taxed when you receive them?

You haven't done anything to earn it, so it's fair game right?

I think there are various ways the tax system can be changed to make things more fair. Perhaps some form of inheritance tax could be part of that, but in it's current shape most people resent it as a double taxation.

gift the max allowable tax free yearly sum to your nieces and nephews every year.

Open accounts in their name and keep lodging until they come of age.

As for your siblings if you’re not close then no need to leave them anything , just because they are, if you want to do that then maybe do something similar to the above.

if you want to donate, then make a wish Ireland, might sound interesting to you. Kids with life ending illnesses and other issues like that, might be quite rewarding for you to help people like that. A lot of times they aren’t big things either.

Disadvantaged children charity or something similar, especially around Christmas time , there are plenty of things like that, same as above a lot of times it simple things that gives them a little bit of joy.

think I just vommed in my mouth.

You could leave an amount of money to all your first cousin's, for example €1,500 each which would give them a nice surprise

A lot of back and forth on the principle of taxation of inheritance but that's not what the OP asked.

The OP hasn't been back to comment on the suggestions to date, so perhaps they got what they needed.

it does, Eugh.

It's funny how the mind works, but there is one particular post in this thread and, upon reading it, your mind automatically manifests an image of what that individual looks like, how the poster behaves etc.

Purely by reading the words in the post.

not in my lifetime and I’m early 30s

Lads take it to PM its nothing to do with the OP's question.

You are posting on this thread from your tent in the Amazon I suppose?

You have a post on another thread of ordering a Lenovo thinkpad from a German seller, but it came with a Swedish keyboard. So you ordered an English keyboard from “China “

Did your seller deliver the laptop from Germany by Canoe? Did the English keyboard you ordered from a sweatshop in “China “ get delivered by one of those Chinese balloons that have been in the news recently?

Get a grip.

which part are you referring to, the key board shipped from china or the laptop shipped from Germany?

Put your assets out of reach come your old age. Im all for paying a fair share in home etc but with that kind of money, you would get completely robbed if in home for a few years.

Seek advice of a financial professional on how best to achieve it.

It would be wise to start giving out the small gift amount each year no doubt. You could tell your relatives that you are giving out 3k to them each year for the next 5 years. If they are young, it would be a huge boost. They could save for college or buy their first car etc. In 5 years, you could review matters.

Id certainly do everything possible to ensure there was no tax payable.

You need to be very careful with Generation entitlement and "well meaning" advice from some.

Do not entertain the idea of giving someone an Annual gift for nothing, tax efficiency or not. Also be wary of falling for guilt traps or manipulation if they see you are a soft target. You will be the most popular choice for Godparent to everyone and there will be no end to the gravytrain.

Definitely give good wedding presents and a generous gift when they buy a house and pay for an occasional meal out etc.

Be careful with your money. You've got your own life, go and enjoy it and don't feel like you have to explain it to anyone.

So easy to blow a million, spending it on lavish trips and experiences not wise.

The thread should be closed.

The OP needs to get sound professional advice.

This is not the forum for this.

As has already been said, sometimes people are very happy with the lives they have at present and have no interest in travel or moving abroad. I know it can be difficult for some to grasp but people can be extremely happy with a simple life. An example would be that I like to change my car every 2 or 3 years. I usually get all the spec that can be got but it's still an average every day make and model. I could easily afford a premium brand of luxury car but I just don't want one. The OP could move to a luxury apartment but may love living where they are now. Everybody gets satisfaction and fulfilment from a different life style.

First class is an outlier in terms of value for money. When I worked for an airline people were booking it at 13k per trip.

What you find is that a lot of people who have accumulated wealth have done so by habituating themselves to living below their means and it's unlikely that on retirement they would simply start throwing cash into the fire. It probably wouldn't be good for their mental health anyway. Kevin O'Leary is a squillionaire but won't buy a coffee out because it costs 4 dollars out vs 18 cents at home.

It depends on the person but for some (me included), the psychological security blanket of accumulated wealth and the belief in its persistence, is much better enjoyed in economy class.