Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Beginning to Invest - All questions go here please

Options
1…1718202223…37

Comments

  • Options
    #572
    sirboby
    Registered Users Posts: 245 ✭✭sirboby


    Hey, So if no CGT is due, nothing has to be done before the 15th of December right? just checking


  • Options
    #573
    outonawing
    Registered Users Posts: 194 ✭✭outonawing


    sirboby wrote: »
    Hey, So if no CGT is due, nothing has to be done before the 15th of December right? just checking

    That's my understanding 👍


  • Options
    #574
    Stefglory
    Registered Users Posts: 2 ✭Stefglory


    Totally clueless on investing. Have a couple of thousand I could invest long term if necessary. And could top it up weekly. I'm not going to have much of a pension so I have roughly 25 years to get something to fall back on. Help?


  • Options
    #575
    Bob Harris
    Registered Users Posts: 3,462 ✭✭✭Bob Harris


    Stefglory wrote: »
    Totally clueless on investing. Have a couple of thousand I could invest long term if necessary. And could top it up weekly. I'm not going to have much of a pension so I have roughly 25 years to get something to fall back on. Help?

    If you have 25 years and don't think you'll have much of a pension would you not put the few grand and the weekly amount towards that? Far more tax efficient plus the tax relief on contributions.


  • Options
    #576
    Shedite27
    Registered Users Posts: 9,374 ✭✭✭Shedite27


    Stefglory wrote: »
    Totally clueless on investing. Have a couple of thousand I could invest long term if necessary. And could top it up weekly. I'm not going to have much of a pension so I have roughly 25 years to get something to fall back on. Help?

    Yeah 25 years is plenty to get a good pot built up. If you have €200 a month to invest from your take home pay, that's €380ish into your pension account each month when you account for tax. Not many investments are gonna top that return


  • Advertisement
  • Options
    #577
    Saudades
    Registered Users Posts: 378 ✭✭Saudades


    Shedite27 wrote: »
    Yeah 25 years is plenty to get a good pot built up. If you have €200 a month to invest from your take home pay, that's €380ish into your pension account each month when you account for tax. Not many investments are gonna top that return

    I'm not too familiar with pension rules myself, but did you mean to write €280? As in the €200 invested + 40% income tax top-up?


  • Options
    #578
    outonawing
    Registered Users Posts: 194 ✭✭outonawing


    Saudades wrote: »
    I'm not too familiar with pension rules myself, but did you mean to write €280? As in the €200 invested + 40% income tax top-up?

    If you put €400 into your pension, you get tax relief to the tune of €160.
    The net cost to you is €240.
    The above assumes that you are paying the €160 tax at 40% in the first place.


  • Options
    #579
    VonLuck
    Registered Users Posts: 2,185 ✭✭✭VonLuck


    May have been asked before, but hard to trawl through all these pages. Is there a recommended book on investing for someone new to the area? Hopefully from an Irish perspective.

    If not, maybe a good online resource?


  • Options
    #580
    Taylor365
    Registered Users Posts: 2,994 ✭✭✭Taylor365


    VonLuck wrote: »
    May have been asked before, but hard to trawl through all these pages. Is there a recommended book on investing for someone new to the area? Hopefully from an Irish perspective.

    If not, maybe a good online resource?
    Investopedia is bar far the best! Might be a bit hard to find what you want answered on the site, but google anything + investopedia and they'll usually have text explaining it along with a few minute video. Great for concepts, ratios, etc.



    https://www.investopedia.com/


  • Options
    #581
    VonLuck
    Registered Users Posts: 2,185 ✭✭✭VonLuck


    Taylor365 wrote: »
    Investopedia is bar far the best! Might be a bit hard to find what you want answered on the site, but google anything + investopedia and they'll usually have text explaining it along with a few minute video. Great for concepts, ratios, etc.



    https://www.investopedia.com/

    Appreciate the guidance. I know of the website, but for some reason I prefer having a book in my hands when reading. Find it much more difficult to engage with text on a screen.

    Definitely a good resource though and will be using it.


  • Advertisement
  • Options
    #582
    Shedite27
    Registered Users Posts: 9,374 ✭✭✭Shedite27


    VonLuck wrote: »
    May have been asked before, but hard to trawl through all these pages. Is there a recommended book on investing for someone new to the area? Hopefully from an Irish perspective.

    If not, maybe a good online resource?

    I like Motley Fool Investment Guide, very easy to understand

    For all beginners, I recommend downloading the Learn App by MyWallSt. Bout 90mns of reading/learning in there, broker down into 6 modules.


  • Options
    #583
    frebel
    Registered Users Posts: 108 ✭✭frebel


    Shedite27 wrote: »

    FWIW, I've been agressive in 2020. Bought shares in March which did indeed dip lower and lost money on those. Bought other shares in March that were at ridiculous lows and have gone up 100%+ since then. I've only bought shares that I'm confident will be higher price in June 2021 than they are today (don't chase quick wins)

    Great returns Shedite...

    I was 'sensibly' investing in ETFs for the last year as well as maxing pension but have become distracted by some opportunites with SPACs and Elec Veh. stocks.

    I have made some silly decisions but have done well generally (but I wouldn't expect this to last in a bear market!

    Do you stick to US stocks or diversify with other investment vehicles?


  • Options
    #584
    FastFullBack
    Registered Users Posts: 1,455 ✭✭✭FastFullBack


    VonLuck wrote: »
    May have been asked before, but hard to trawl through all these pages. Is there a recommended book on investing for someone new to the area? Hopefully from an Irish perspective.

    If not, maybe a good online resource?

    I like this book from a investing mentality point of view;https://www.amazon.co.uk/Simple-Path-Wealth-financial-independence/dp/1533667926

    It's from a US viewpoint but still good for the principles.

    Also I find this to be a great podcast from an Irish viewpoint with lots in here on investing:
    https://www.informeddecisions.ie/category/podcast/


  • Options
    #585
    arleitiss
    Registered Users Posts: 3,515 ✭✭✭arleitiss


    ****, I think I missed deadline to declare my CGT.

    From revenue site:
    "For disposals between 1 January and 30 November 2020, payment was due by 15 December 2020."


    I was out of country since mid-November and just came back recently and realized I missed deadline of 15th Dec 2020.

    Trying to find Form 11 but I only came across Form 12, I've done multiple transactions since August 2020 (Sell/Buy) which (According to Degiro account report have accumulated in >€1000 Realised Gains).

    Under which of these categories would it go?
    https://i.imgur.com/549cLVc.png



    I only got into stock market in August 2020 so I've never done this before.


  • Options
    #586
    Taylor365
    Registered Users Posts: 2,994 ✭✭✭Taylor365


    One book i would AVOID is "The Intelligent Investor".

    Great book for its time, but its time was 60-70 years ago.

    Recent revision chapters were added to it (think 2003-5?) that even bad mouth Amazon, which is now x100 the price at the time.


  • Options
    #587
    Taylor365
    Registered Users Posts: 2,994 ✭✭✭Taylor365


    arleitiss wrote: »
    ****, I think I missed deadline to declare my CGT.

    From revenue site:
    "For disposals between 1 January and 30 November 2020, payment was due by 15 December 2020."


    I was out of country since mid-November and just came back recently and realized I missed deadline of 15th Dec 2020.

    Trying to find Form 11 but I only came across Form 12, I've done multiple transactions since August 2020 (Sell/Buy) which (According to Degiro account report have accumulated in >€1000 Realised Gains).

    Under which of these categories would it go?
    https://i.imgur.com/549cLVc.png



    I only got into stock market in August 2020 so I've never done this before.
    None.

    CG Payment is under "I want to make a payment", not under your income. You have to figure out your bill.

    Also, Form CG1 to be filed by 31st October.


  • Options
    #588
    arleitiss
    Registered Users Posts: 3,515 ✭✭✭arleitiss


    Taylor365 wrote: »
    None.

    CG Payment is under "I want to make a payment", not under your income. You have to figure out your bill.

    Also, Form CG1 to be filed by 31st October.

    Oh thank you for this, that's a relief. :o


  • Options
    #589
    Taylor365
    Registered Users Posts: 2,994 ✭✭✭Taylor365


    arleitiss wrote: »
    Oh thank you for this, that's a relief. :o
    BUT, payments were due before 15th December for Jan-Nov of 2020. Payments are seperate from filing.


    Not sure how it works with late payments.


  • Options
    #590
    Shedite27
    Registered Users Posts: 9,374 ✭✭✭Shedite27


    frebel wrote: »
    Great returns Shedite...

    I was 'sensibly' investing in ETFs for the last year as well as maxing pension but have become distracted by some opportunites with SPACs and Elec Veh. stocks.

    I have made some silly decisions but have done well generally (but I wouldn't expect this to last in a bear market!

    Do you stick to US stocks or diversify with other investment vehicles?

    For myself, it's mainly US stocs, there's more reading and research done on them, and far more volume so easier and cheaper to buy them. Seems any growth comapny is listed there.


  • Options
    #591
    frebel
    Registered Users Posts: 108 ✭✭frebel


    Shedite27 wrote: »
    For myself, it's mainly US stocs, there's more reading and research done on them, and far more volume so easier and cheaper to buy them. Seems any growth comapny is listed there.

    Yes, much easier to get stuck into the details for us stocks...

    I feel like I overthink things when it comes to tax for ireland but have to remind myself that tax on decent returns still means decent returns...

    is the ideal is hold a majority of stocks that will hold value for years?


  • Advertisement
  • Options
    #592
    arleitiss
    Registered Users Posts: 3,515 ✭✭✭arleitiss


    Taylor365 wrote: »
    BUT, payments were due before 15th December for Jan-Nov of 2020. Payments are seperate from filing.


    Not sure how it works with late payments.

    But I don't think I owe any payments?
    Let's say if total realised profit was 1100 and total losses were 300.

    I assume in this case I don't need to do anything until 31st of October?


  • Options
    #593
    Shedite27
    Registered Users Posts: 9,374 ✭✭✭Shedite27


    frebel wrote: »
    Yes, much easier to get stuck into the details for us stocks...

    I feel like I overthink things when it comes to tax for ireland but have to remind myself that tax on decent returns still means decent returns...

    is the ideal is hold a majority of stocks that will hold value for years?

    In an ideal world yes, but realistically, tech stocks come and go, most have a shelf life of 5/6 years before the new shiny thing comes along. Plus there's a lot more growth at the start than once they get big. A $1bn company has a better chance of going up 20 fold than a $50bn company does.


  • Options
    #594
    Meglamonia
    Registered Users Posts: 1,247 ✭✭✭Meglamonia


    Can anyone recommend the best investment podcasts? Doesn't necessarily have to be geared towards beginners.

    Thanks


  • Options
    #595
    Shedite27
    Registered Users Posts: 9,374 ✭✭✭Shedite27


    Meglamonia wrote: »
    Can anyone recommend the best investment podcasts? Doesn't necessarily have to be geared towards beginners.

    Thanks
    I listen to:
    Stock Club: fortnightly podcast by the MyWallSt crew
    Pivot: Podcast more about companies than investment, but usually gives you a good idea to what companies are doing well and leads to good investments.
    Rule Breaker Investing: Weekly podcast from Motley Fool, some episodes are stock picks, some are interviews with investors, some are book reviews, some are gameshows etc


  • Options
    #596
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Meglamonia wrote: »
    Can anyone recommend the best investment podcasts? Doesn't necessarily have to be geared towards beginners.

    Thanks

    You might want to be more specific as it really depends on what you mean by investment podcast. For example: teaching you general investment strategies, suggesting specific investment options, or reviewing markets and the macroeconomic landscape would be themes which could all be described as "investment" podcast, but are actually rather different topics.

    But for regular market updates combined to in depth analysis of macroeconomic concepts and trends, I would wholeheartedly recommend "Macrovoices" from Erik Townsend.

    The series called "The End Game" as part of the Grant Williams podcast is also great to get the perspective of brilliant macro and finance thinkers in terms of where finance and the economy are heading.


  • Options
    #597
    Taylor365
    Registered Users Posts: 2,994 ✭✭✭Taylor365


    Motley Fool Money

    Quick round up on what is going on in the market, few takes on different stocks. Very digestible.


  • Options
    #598
    TheRacerboy5
    Registered Users Posts: 39 ✭TheRacerboy5


    This has probably been asked a 1000 times but I can’t seem to find the answer I’m looking for. Help is much appreciated!

    When paying tax say from Jan to end of Nov which is due before the 15th of Dec on stocks and crypto.

    Say for example I put in €1000 and the firm uses dollars on their platform. Now the portfolio is worth $6000 but I have made numerous buys and sells during the year. I convert back to €5000 roughly. The exemption is €1270

    Do I simply €5000 - (€1000+€1270) = €2730 @33% = €900

    Or do I have to work out the tax from each individual trade and add it all up? Also have to work out the exchange rates on the day of the trade?

    Using Etoro and have some nice positions on crypto from mid 2020 but haven’t sold any positions last year. Only started selling and buying dips since Jan as to avoid a taxable event in 2020.


  • Options
    #599
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    TheRacerboy5 wrote: »

    Do I simply €5000 - (€1000+€1270) = €2730 @33%; = €900

    Or do I have to work out the tax from each individual trade and add it all up? Also have to work out the exchange rates on the day of the trade?

    You need to calculate the gain/loss for each trade separately, converting the purchase and sell prices to euros on the day of those transactions. Then add up everything to calculate the total.

    If you are only selling a fraction of an asset (as opposed to your whole position), the FIFO rule applies to calculate the purchase price.


  • Options
    #600
    TheRacerboy5
    Registered Users Posts: 39 ✭TheRacerboy5


    Bob24 wrote: »
    Do I simply €5000 - (€1000+€1270) = €2730 @33% = €900

    You need to calculate the gain/loss for each trade separately, converting the purchase and sell prices to euros on the day of those transactions. Then add up everything to calculate the total.

    If you are only selling a fraction of an asset (as opposed to your whole position), the FIFO rule applies to calculate the purchase price.

    That seems like a lot of work! Is there any software to do this? Would I be better using an exchange that uses Euro? Roughly what does it cost for an accountant to file the CGT?


  • Advertisement
  • Options
    #601
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    TheRacerboy5 wrote: »
    That seems like a lot of work! Is there any software to do this? Would I be better using an exchange that uses Euro? Roughly what does it cost for an accountant to file the CGT?

    If you are filing the return yourself, the easiest way is to have a broker which uses the euro as a base currency and does a real time conversion every time you buy/sell financial instruments denominated in another currency. Even better if they give you an end of year report listing all the transactions and giving you the total amount.

    I know there are websites doing the calculations automatically and dedicated to cryptocurrencies trading. There could well be the same thing for shares (it is the exact same maths) buy I haven’t looked into it.

    Sorry, not sure about the cost of a tax accountant. Probably only worth it if you have 5 or 6 digits gains, but TBH I am not sure.


Advertisement