Regular savings accounts will not make you much return on your capital. Good approach of you are educated and informed is to open a spread trading account with someone like ETX or IG.
30k is good account capital to start a very enjoyable profitable business.
*spread trading is a leveraged product and you can lose more than your original stake.
[QUOTE=“ProjectX, post: 1118113, member: 1742”]Regular savings accounts will not make you much return on your capital. Good approach of you are educated and informed is to open a spread trading account with someone like ETX or IG.
30k is good account capital to start a very enjoyable profitable business.
*spread trading is a leveraged product and you can lose more than your original stake.[/QUOTE]
I never liked the term leverage - it doesn’t sound like borrowing your money at all for me
I bought a book, signed up for an account and had a decent fund to start with…
I ended up buying 10 heifers instead and I never read the book… And that cunt from shelbourne markets hasn’t stoped ringing me since…
Watch out for the taxation of these finds
I put some money into a US equity fund and a US financials fund. Did no research, was willing to lose money on them in the short term as I have no immediate need for the cash. They’re up around 35% since I invested about a year and a half ago. It’s pretty pointless though as I have to pay over a load of tax if I ever sell them. There’s a load of forms to fill out too for completing your tax return. For that reason I haven’t bothered investing any more in them and I’ve just been adding to a shitty 1% interest account.
If you start using or thinking about the word “leverage”, you know you’re going to be fucked later.
[QUOTE=“Kinvara’s Passion, post: 1117961, member: 686”]What are the management fees? You’d be surprised how much they can erase potential gains.
Any of ye know Is the anyway of accessing vanguard index funds from Ireland?[/QUOTE]
They would waive management fees as I’m such a catch for them.
Also bumping this thread for @Rocko as I replied to his question last week and he didn’t expand further.
I really need more advice here, chaps. Don’t force to join some nerd site like askaboutmoney.com or something.
[QUOTE=“Bandage, post: 1119137, member: 9”]They would waive management fees as I’m such a catch for them.
Also bumping this thread for @Rocko as I replied to his question last week and he didn’t expand further.
I really need more advice here, chaps. Don’t force to join some nerd site like askaboutmoney.com or something.[/QUOTE]
The exit tax from ETF’s is a huge area of confusion from what I gather. Plus it appears you cannot offset losses in ETFs against other gains **. Therefore buying straight shares appears to be a far more attractive option.
Be careful mate.
** I wonder is Brendan Burgess related to Georgie Burgess?
[QUOTE=“Kinvara’s Passion, post: 1119144, member: 686”]There exit tax from ETF’s is a huge area of confusion from what I gather. Plus it appears you cannot offset losses in ETFs against other gains **. Therefore buying straight sharesappears to be a far more attractive option.
Be careful mate.
** I wonder is Brendan Burgess related to Georgie Burgess?[/QUOTE]
I really appreciate your wise counsel, pal. 
Bumped for @Rocko.
I’m advised that the tax implications of investing in the fund are as follows:
The fund grows “tax free” until its 8th anniversary, or withdrawal, at which point tax is payable on the growth element at the prevailing rate at the time. This rate is currently 41% (same as DIRT rate).
The chap I’m dealing with is adamant that this is WAAAAYYYY more favourable from an investment perspective because you can get exponential growth rather than being taxed each term/yearly, like deposits.
Discuss.
Lads, i’m cashing in shares that made a small profit. Do i have to ring revenue, tell them about it and pay them?
Even if the profit is small (under 3000)
[QUOTE=“Juhniallio, post: 1119584, member: 53”]Lads, i’m cashing in shares that made a small profit. Do i have to ring revenue, tell them about it and pay them?
Even if the profit is small (under 3000)[/QUOTE]
Do the same as you do with your income tax. Tell em nothing.
[QUOTE=“Juhniallio, post: 1119584, member: 53”]Lads, i’m cashing in shares that made a small profit. Do i have to ring revenue, tell them about it and pay them?
Even if the profit is small (under 3000)[/QUOTE]
There’s a certain capital gain allowed tax-free each year. You prob should declare it but not have to pay any tax.
[QUOTE=“Juhniallio, post: 1119584, member: 53”]Lads, i’m cashing in shares that made a small profit. Do i have to ring revenue, tell them about it and pay them?
Even if the profit is small (under 3000)[/QUOTE]
Say nuthin and keep saying it. Cash money muthafucka.
[QUOTE=“Juhniallio, post: 1119584, member: 53”]Lads, i’m cashing in shares that made a small profit. Do i have to ring revenue, tell them about it and pay them?
Even if the profit is small (under 3000)[/QUOTE]
You should allow them to contact you.
Sorry mate was otherwise engaged the last while.
I will do my best to answer all the questions asked in my absence, ye are lucky to have me around because some of the advice is gank.
This is like saying I’m thinking of buying a car, it has windows and a decent engine. What do you make of such cars?
[QUOTE=“Kinvara’s Passion, post: 1117961, member: 686”]
Any of ye know Is the anyway of accessing vanguard index funds from Ireland?[/QUOTE]
As in Vanguard ETF’s? Any halfway decent stockbroker. TD Waterhouse are the cheapest.
[QUOTE=“The Most Infamous, post: 1118109, member: 1783”] Foreign exchange if you have the capital and balls is another way of making a great return on your investment, but would require a lot of research.
[/QUOTE]
There are companies with literally hundreds of people working in research that still fuck up on FX trades.
The recent Euro/Swiss move for example nearly put a few of the CFD houses out of business.
Very few lads in the world have any business trading FOREX. I doubt many of them post here.