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  • 01-10-2022 6:44am
    #1
    sawi
    Registered Users, Registered Users 2 Posts: 8 ✭


    Hi all I am presently living abroad in Asia and dont see my self returning to Ireland. I am nearly 62 married with a teenager and retired. My big problem is I have over 500k pension pot in a BOI cash account with a private trustee firm and I am struggling to invest it. I was planning an international Sipp where I would be taxed in the UK which I dont want and it is costly with nearly 20k upfront fees. My Irish finance planner is advising me to put all the funds into a social housing bond ( 6% per annum growth) that is not central bank guaranteed he has told me I can not put into a insurance company invested as I am living abroad.

    Can anyone give me advice I really need to sort this as my savings are running out. Thanks for reading



Comments

  • #2
    walterking
    Registered Users, Registered Users 2 Posts: 1,297 ✭✭✭walterking


    Probably a question to ask on the www.askaboutmoney.com website - Its an Irish site and a lot of experts in the field give opinions



  • #3
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,597 Mod ✭✭✭✭Jim2007


    Given your location and stage in life it makes no sense in having your entire savings invested in a small open economy on the edge of Europe, let a lone in high risk asset class in that country. I think the consensus return for this kind of thing internationally is somewhere around the 2% - 3$ level, or possibly even less, so if you are being offered 6% you are obviously taking on significantly more risk.

    You would be well advised to find a good local advisor who knows the local tax laws, opportunities available and has the ability to build you a well allocated international portfolio that can support you in retirement.



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