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Jacques, what's your impression of where he puts his wealth (stock exchange). I'm in Ireland, and ETF index fund gains are taxed at ~40% each seven years, outs
by miseg 11y ago
Jacques, what's your impression of where he puts his wealth (stock exchange).
I'm in Ireland, and ETF index fund gains are taxed at ~40% each seven years, outside of your retirement fund. It seems like other avenues are more viable here in Ireland for wealth building before your retirement years, like running a business or maybe property ownership.
- jacquesm 11y agoThe advice given is very US centric, you'd do well to research your specific options and figure out what is best for you rather than to adopt his strategies without modification, it is more about the principle than about the letter of what's written there. In NL we have (with respect to any kind of capital gains on private holdings) an incredibly fortuitous situation (no tax paid at all beyond a 1% per annum fictuous income, so that 1% of the value of your holdings gets added to your income which is then taxed at the normal rate). In Ireland the index fund route may not be an option, but there may be other alternatives (such as direct real estate investments) that have a similar risk/return ration but a better tax picture. Your best advisor with stuff like this would be a local tax attorney.
- miseg 11y agoThank you for the actionable advice.