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Do you invest?

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    #92
    Shai
    Registered Users Posts: 226 ✭✭Shai


    Also, on the Investment forum we regularly get people asking us our thoughts about investing through services or funds offered by their banks. These investments are invariably complete rip-offs. If anyone reading this thread is thinking about investing through a bank, please ask advise on the Investment forum first.


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    #93
    Atoms for Peace
    Closed Accounts Posts: 2,888 ✭✭✭Atoms for Peace


    Mad_maxx wrote: »
    Actually it's pretty poor, most of the active threads are about penny stocks

    So they're basically for chumps, going by my knowledge of investing; mostly from watching "the wolf of wallstreet" and "wallstreet".


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    #94
    Shai
    Registered Users Posts: 226 ✭✭Shai


    Mad_maxx wrote: »
    Actually it's pretty poor, most of the active threads are about penny stocks

    to my knowledge there is one thread about pennystocks?


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    #95
    Mad_maxx
    Registered Users Posts: 13,505 ✭✭✭✭Mad_maxx


    Shai wrote: »
    to my knowledge there is one thread about pennystocks?

    The most active thread is "share picks"

    Largely focuses on obscure small and micro caps


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    #96
    jester77
    Registered Users Posts: 11,262 ✭✭✭✭jester77


    PhilOssophy wrote: »
    In my humble view, the order of priority in terms of investments is
    1. Get debt free as quickly as possible. Overpay on mortgage - you'll do well to get the 3-4% guaranteed elsewhere. No point having money earning 1-2% on deposit and paying 3-4% on a mortgage.
    2. Pension, pension, pension. It is the most tax efficient use of your money.
    3. If you've more then, beyond that, then you look at investing.

    I'm definitely looking for a longer term strategy to take the rises and falls in the stock markets, and I'd only ever invest what I am willing to lose. I've a few bob now that I am wanting to see if I can make it work harder - but sure when you've to pay tax on any gain it debatable in its worth.

    You left out the rainy day fund. Everyone should have around 6 months salary readily available and not tied up for a worse case scenario. I would put that at the top of your list.


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    #97
    Mad_maxx
    Registered Users Posts: 13,505 ✭✭✭✭Mad_maxx


    jester77 wrote: »
    You left out the rainy day fund. Everyone should have around 6 months salary readily available and not tied up for a worse case scenario. I would put that at the top of your list.

    I'd argue six months is too little, a year at least


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    #98
    PowerToWait
    Registered Users Posts: 1,775 ✭✭✭PowerToWait


    Mad_maxx wrote: »
    I'd argue six months is too little, a year at least

    How can people do this when they have to move in with parents and give up all lifestyle expenses for several years to cobble together a deposit for a home? Say 35k, between 2?

    Then pay the mortgage on the hugely overpriced home, bring up kids in many cases and also save 60-100k?

    Not having a go, just seems unrealistic for the majority.


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    #99
    vargoo
    Registered Users Posts: 737 ✭✭✭vargoo


    PowerToWait wrote: »
    How can people do this when they have to move in with parents and give up all lifestyle expenses for several years to cobble together a deposit for a home? Say 35k, between 2?

    Then pay the mortgage on the hugely overpriced home, bring up kids in many cases and also save 60-100k?

    Not having a go, just seems unrealistic for the majority.
    It is.

    To many people in the world.


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    #100
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    vargoo wrote: »
    It is.

    To many people in the world.

    Thanos was right


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    #101
    Jimmy_oc1998
    Site Banned Posts: 73 ✭✭Jimmy_oc1998


    PhilOssophy wrote: »
    In my humble view, the order of priority in terms of investments is
    1. Get debt free as quickly as possible. Overpay on mortgage - you'll do well to get the 3-4% guaranteed elsewhere. No point having money earning 1-2% on deposit and paying 3-4% on a mortgage.
    2. Pension, pension, pension. It is the most tax efficient use of your money.
    3. If you've more then, beyond that, then you look at investing.

    I'm definitely looking for a longer term strategy to take the rises and falls in the stock markets, and I'd only ever invest what I am willing to lose. I've a few bob now that I am wanting to see if I can make it work harder - but sure when you've to pay tax on any gain it debatable in its worth.

    What's your opinion for someone like me with 80k but no house? My rent is about 3500 a year. I feel house prices will fall eventually.


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    #102
    ancapailldorcha
    Moderators, Category Moderators, Science, Health & Environment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 38,170 CMod ✭✭✭✭ancapailldorcha


    Jimmy_oc1998 wrote: »
    What's your opinion for someone like me with 80k but no house? My rent is about 3500 a year. I feel house prices will fall eventually.

    House prices might fall as the baby boomer generation begin to die off but we're in the early stages of that. Inherited wealth is going to play a much bigger role than it did before. I live in London where I am wondering as well how things might pan out.

    We sat again for an hour and a half discussing maps and figures and always getting back to that most damnable creation of the perverted ingenuity of man - the County of Tyrone.

    H. H. Asquith



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    #103
    Jimmy_oc1998
    Site Banned Posts: 73 ✭✭Jimmy_oc1998


    valoren wrote: »
    Degiro account. They offer accounts for minors too.

    What amount of money would you be comfortable lodging with degiro?


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    #104
    PHG
    Registered Users Posts: 475 ✭✭PHG


    Jimmy_oc1998 wrote: »
    What's your opinion for someone like me with 80k but no house? My rent is about 3500 a year. I feel house prices will fall eventually.

    You feel house prices will fall but tbh nobody knows. If O had the cash I would buy and rent out another room.

    I am saving to buy in London on my own next year and want to put down a 15% deposit on a flat, put a few thousand in to have it to my taste but also have the emergency fund there too. Mortgage of 15 or 20 years too. It won't be my forever home but a good start.


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    #105
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    valoren wrote: »
    Our two year old daughter has Johnson & Johnson, Exxon, Disney, 3M and Berkshire Hathaway. Any cash gifts, allowances will be invested for her. By the time she is 20 she'll hopefully have a minimum of $100k compounding away, the dividends reinvested, and by the time she is middle aged, she'll be a millionaire. She's only 2 and owns a stake in those businesses.

    Fully supportive of this. What are the mechanics of this? Did you just set up a brokerage account for her with you having power of attorney?
    Are there any tax-favorable schemes in Ireland for investing for one's kids?


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    #106
    Shai
    Registered Users Posts: 226 ✭✭Shai


    Deleted User wrote: »
    Are there any tax-favorable schemes in Ireland for investing for one's kids?

    hahahahahahahahahahahahahaha

    *wheeze*

    ahahahahahahahahahahaa


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    #107
    valoren
    Registered Users Posts: 5,469 ✭✭✭valoren


    Deleted User wrote: »
    valoren wrote: »
    Our two year old daughter has Johnson & Johnson, Exxon, Disney, 3M and Berkshire Hathaway. Any cash gifts, allowances will be invested for her. By the time she is 20 she'll hopefully have a minimum of $100k compounding away, the dividends reinvested, and by the time she is middle aged, she'll be a millionaire. She's only 2 and owns a stake in those businesses.

    Fully supportive of this. What are the mechanics of this? Did you just set up a brokerage account for her with you having power of attorney?
    Are there any tax-favorable schemes in Ireland for investing for one's kids?

    One parent needs to be included on the application form to authorise money transfers etc but the trading account will be in the child's name. There are no tax advantaged accounts, no junior ISA'S, we're a backwards country when it comes to investing. Still trying to figure out the minefield myself.


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    #108
    Das Reich
    Registered Users Posts: 736 ✭✭✭Das Reich


    ancapailldorcha wrote: »
    House prices might fall as the baby boomer generation begin to die off but we're in the early stages of that. Inherited wealth is going to play a much bigger role than it did before. I live in London where I am wondering as well how things might pan out.

    And there are billions of people outside developed countries just waiting their opportunity to replace this baby boomer generation. Price of house will never fall if the population is increasing.


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    #109
    mulbot
    Registered Users Posts: 1,829 ✭✭✭mulbot


    valoren wrote: »
    One parent needs to be included on the application form to authorise money transfers etc but the trading account will be in the child's name. There are no tax advantaged accounts, no junior ISA'S, we're a backwards country when it comes to investing. Still trying to figure out the minefield myself.

    Do you mind me asking, do you do through a broker or an online broker. Thanks


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    #110
    valoren
    Registered Users Posts: 5,469 ✭✭✭valoren


    mulbot wrote: »
    valoren wrote: »
    One parent needs to be included on the application form to authorise money transfers etc but the trading account will be in the child's name. There are no tax advantaged accounts, no junior ISA'S, we're a backwards country when it comes to investing. Still trying to figure out the minefield myself.

    Do you mind me asking, do you do through a broker or an online broker. Thanks

    Degiro. Online broker.


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    #111
    PhilOssophy
    Registered Users Posts: 2,114 ✭✭✭PhilOssophy


    Mad_maxx wrote: »
    There is a wide held belief out there that " being debt free" is the holy grail

    It's an over rated ambition largely speaking, debt is not a bad thing and essential to increasing wealth

    Right, well, fair enough, I'll keep doing what I'm doing.


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    #112
    valoren
    Registered Users Posts: 5,469 ✭✭✭valoren


    Shai wrote: »
    hahahahahahahahahahahahahaha

    *wheeze*

    ahahahahahahahahahahaa

    If only....

    https://www.ft.com/content/81f2b70e-3e92-11e9-9bee-efab61506f44

    What barriers exist that prevent this from becoming a thing here?
    I guess a tax free individual account which allows your already taxed savings to grow long term with low cost brokers making incremental investments feasible and practical is a bad thing.


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    #113
    kowloon
    Registered Users Posts: 13,407 ✭✭✭✭kowloon


    Wait a second, the rainy day fund is supposed to be for more than a day?


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    #114
    Der Stier
    Closed Accounts Posts: 60 ✭✭Der Stier


    Aongus Von Bismarck wrote: »
    Of course cryptocurrency is an elaborate scam designed to part real money from gullible 'investors' in return for worthless tokens. It's a scam for the internet age, and it targets the same people who have always been scammed - greedy idiots who think they can become wealthy by doing very little.

    However it's incorrect to say people didn't make money from it. I work in banking here in Germany, and we heard about this bitcoin thing back in 2013. We were playing our monthly poker game and decided to buy some of them as a joke for a member of our C-Suite. Circumstances meant we never got to give them to him, and they were quickly forgotten about.

    However the whole hysteria around crypto emerged in late 2017, and we sold them for $14700 a pop. This wasn't the peak of the bubble, but better to get out and take your profits, than be left being a bag-holder of virtual beany babies. Not bad, considering we bought them for just over $60 a pop!

    Paid my taxes owed on the profits, and managed to purchase a beautiful holiday home in West Cork with the profits. Had enough left over to pick up a beautiful painting for the home, and membership of a local golf club.

    Wouldn't go near them again. There's an idea that traditional banking is terrified of crypto - this isn't true. Or that there's institutional money flooding into crypto - there isn't. It's greasy computer nerds and spiteful libertarians trying to offload crap on each other for more than they bought it for.

    Is this poster for real ?

    I'm just wondering would a finance guru making millions really post on a forum boasting about it ?
    Wouldn't surprise me


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    #115
    Dohnjoe
    Registered Users Posts: 17,849 ✭✭✭✭Dohnjoe


    Der Stier wrote: »
    Is this poster for real ?

    I'm just wondering would a finance guru making millions really post on a forum boasting about it ?
    Wouldn't surprise me

    Possibly. I know several personally who have made 6 to 7 figures on crypto

    There are shockingly high peaks and horrendous crashes, but those extremes aside the average price of something like BTC has increased hundred-fold in 6 years


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    #116
    Birneybau
    Registered Users Posts: 10,269 ✭✭✭✭Birneybau


    Der Stier wrote: »
    Is this poster for real ?

    I'm just wondering would a finance guru making millions really post on a forum boasting about it ?
    Wouldn't surprise me

    Ah, you're new here...


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    #117
    jayjay2010
    Registered Users Posts: 505 ✭✭✭jayjay2010


    I’m currently based in Toronto, working in the financial sector, and it’s clear to me that people here are encouraged to invest as the banks have various types of “simple” investments such as mutual fund and the government has amazing tax free savings accounts where any gains made on an investment is not taxed (subject to a maximum threshold per year).

    In my current role, I see ordinary, day to day people from all ages (as young as 18 and as old as 92) coming into me for investment advice and starting to invest. People can chose to make all investment decisions themselves or ask me to help them build an investment portfolio.

    It seems that investments in Ireland are not as accessible. The high taxes seem to turn people off, which is understandable.

    I invest in Canada but I never invested in Ireland. It will be interesting to see what my options are when I return home.


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    #118
    PhilOssophy
    Registered Users Posts: 2,114 ✭✭✭PhilOssophy


    Tax is the killer to all investment - if you've paid tax on the income, you shouldn't have to pay tax on the gain by using your money wisely.


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    #119
    Bobblehats
    Registered Users Posts: 4,707 ✭✭✭Bobblehats


    I’m in a vest right now!

    ..c’mere bitch......


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    #120
    Dohnjoe
    Registered Users Posts: 17,849 ✭✭✭✭Dohnjoe


    Branchranch wrote: »
    For all the losers there are going to people who have gained.

    Yup indeed, like anything with price fluctuations e.g. stocks


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    #121
    Der Stier
    Closed Accounts Posts: 60 ✭✭Der Stier


    Der Stier wrote: »
    Is this poster for real ?

    I'm just wondering would a finance guru making millions really post on a forum boasting about it ?
    Wouldn't surprise me

    No, I'm not talking about Bitcoin , I am aware of some people were very fortunate to invest at the right time , I am talking here about the poster.

    I was looking through his history, odd to say the least.

    If one is successful (and fair play if he is ) ... posting and boasting about it here ?? kind of weird , makes me think it's all made up tbh.


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