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Passive income streams

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  • 22-01-2020 2:39pm
    #1
    One More Toy
    Registered Users Posts: 3,764 ✭✭✭


    What are your favourite passive income streams and why?

    I'm invested in dividend stocks which generate a nice return, I let them sit in my broker account and reinvest end of the year


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  • Options
    #2
    E30i
    Closed Accounts Posts: 249 ✭✭E30i


    And how do you meet the tax due on the Dividends received if you are reinvesting the full amount received?


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    #3
    One More Toy
    Registered Users Posts: 3,764 ✭✭✭One More Toy


    E30i wrote: »
    And how do you meet the tax due on the Dividends received if you are reinvesting the full amount received?

    I'm self assessed so it falls under my income tax computation each year, I pay it along with whatever else I owe


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    #4
    E30i
    Closed Accounts Posts: 249 ✭✭E30i


    So you pay the tax due from other income, that makes sense, does that make it harder for you to keep track of the actual passive income you are receiving if it is Gross. Just curious as it sounds like you have a good way of doing it.

    My passive income is 10 year saving certs.


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    #5
    One More Toy
    Registered Users Posts: 3,764 ✭✭✭One More Toy


    E30i wrote: »
    So you pay the tax due from other income, that makes sense, does that make it harder for you to keep track of the actual passive income you are receiving if it is Gross. Just curious as it sounds like you have a good way of doing it.

    My passive income is 10 year saving certs.

    Yes - good point, I don't really track it, I'm any case I'd just use the higher tax band to get a sense of the after tax receipt


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    #6
    Jim2007
    Moderators, Business & Finance Moderators Posts: 9,988 Mod ✭✭✭✭Jim2007


    One More Toy wrote: »
    What are your favourite passive income streams and why?

    I'm invested in dividend stocks which generate a nice return, I let them sit in my broker account and reinvest end of the year

    Why? It does not seem that you need the income... Why not concentrate on capital appreciation and avoid the income taxes?


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    #7
    One More Toy
    Registered Users Posts: 3,764 ✭✭✭One More Toy


    Jim2007 wrote: »
    Why? It does not seem that you need the income... Why not concentrate on capital appreciation and avoid the income taxes?

    Indeed I'm not just invested in div stocks

    I'm not sure - I like the idea of passive income, making money while you sleep. I know I'm getting screwed IT wise but they are companies I want to hold for the long term anyway


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    #8
    BailMeOut
    Registered Users Posts: 2,961 ✭✭✭BailMeOut


    OP - what's your favourite / best dividend stock?


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    #9
    One More Toy
    Registered Users Posts: 3,764 ✭✭✭One More Toy


    BailMeOut wrote: »
    OP - what's your favourite / best dividend stock?

    Good question, bae systems probably. Visa, mastercard too


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    #10
    BailMeOut
    Registered Users Posts: 2,961 ✭✭✭BailMeOut


    One More Toy wrote: »
    Good question, bae systems probably. Visa, mastercard too

    thanks. Smurfit Kappa dividends are pretty good.


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    #11
    Mad_maxx
    Registered Users Posts: 13,505 ✭✭✭✭Mad_maxx


    BailMeOut wrote: »
    thanks. Smurfit Kappa dividends are pretty good.

    stock price is cheap too


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