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Disillusioned 30-something year olds looking to potentially move to Belfast from Ireland

  • 09-04-2025 01:42PM
    #1
    BorderHopper91
    Registered Users, Registered Users 2 Posts: 1 ✭


    I am totally Disillusioned as a 30 something year old, living at home with mum and the girlfriend and feeling like I am putting my life on hold. I should be getting married and having kids, but instead I am waiting and waiting to try and buy an overpriced house that I am worried will end up getting me into debt, especially on the precipice of a potential recession/depression.

    So, I have come up with an action plan and want to do a litmus test to make sure I'm not bonkers:

    Current Position
    • Location: Currently in County Wicklow, Ireland
    • Living Situation: Living with mother and girlfriend
    • Assets: €86,000 total (€60,000 cash, €20,000 stocks, €6,000 Bitcoin)
    • Employment: Currently unemployed, seeking opportunities
    Proposed Strategy

    I'm considering relocating to Belfast instead of Dublin for the next 5-10 years to build financial security through a tax-optimized investment approach.

    Key Financial Differences

    Monthly Cash Flow:

    • Belfast: €833 higher monthly savings potential due to significantly lower housing costs and general cost of living
    • This amounts to approximately €10,000 additional investment capital per year

    Investment Approach:

    • Belfast Strategy:
      • Maximize UK ISA allowance (£20,000/year tax-free investments)
      • Utilize tax-free Gold Sovereigns (unique to UK)
      • Maintain small non-sheltered investments below capital gains thresholds
    • Dublin Strategy:
      • Standard investment portfolio with higher tax burden
      • No equivalent to ISA available
      • Higher capital gains tax (33% vs. 10-20%)
    Projected Outcomes

    5-Year Projection:

    • Belfast: €265,848 total wealth
    • Dublin: €187,599 total wealth
    • Difference: €78,249 (41.7%)

    10-Year Projection:

    • Belfast: €521,867 total wealth
    • Dublin: €315,546 total wealth
    • Difference: €206,321 (65.4%)

    Rent vs. Buy Analysis (10-Year):

    • Renting and investing in Belfast produces significantly better results (€742,289) than buying property (€281,619)
    • This suggests potentially delaying property purchase to maximize investment growth
    Personal Considerations

    My girlfriend is uncertain about relocation, and I appreciate that financial factors are just one part of this decision. Family proximity and potential job opportunities need to be considered alongside the financial advantages, although it is only a few hours drive so no problem to visit at weekends etc.

    Questions I'd Value Feedback On
    1. Does my tax strategy utilizing ISAs and Gold Sovereigns seem sound?
    2. Are the projected growth rates (6% for stocks, 9.5% for gold) reasonable?
    3. Are there downsides to this Belfast approach I might be overlooking?
    4. Any experiences with cross-border financial planning between Ireland/UK?
    5. Should I consider a different timeframe or a hybrid approach?

    Thanks for taking the time to review this plan. I'm particularly interested in feedback from anyone with experience living/investing in both jurisdictions.



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