u/livingfromtheheart

Just wondering how I find this out

So previously the public servise pension was seen as a “gold plated “ pension way beyond what could be achieved at similar costs/salary in the private sector.

So is the new post 2013 scheme single scheme still regarded in the same way ?

Context for asking:

I worked in the HSE from 1998-2015 and was paying into the pension scheme of the time

I left and worked in the private sector and have a private scheme currently

However I have been offed a job in the local government that I’m considering but want to understand the pension better as the salary is a little less than my current salary

I believe I would now be entering the new single pension scheme and couldn’t reactivate my old scheme ?

Any thoughts ?

I have 1 rental with a modest mortgage remaining - given the current rental rules has anyone got anything positive to say about keeping a rental property ?

Hi all,

I’d really appreciate some advice as I’m a bit torn on what to do.

We have a rental property outside Dublin with about 65% equity and a small mortgage left. It brings in around €1,800 a month. (Could prob be getting more but we have great tenants ).

At the moment though, things are quite tight financially. We have three kids in college and living away from home, which will likely continue for another couple of years.

We also still have a mortgage on our family home. If we sold the rental, we could clear that mortgage and take a lot of pressure off month to month.

We’re both close to 50, paying into good pensions, and realistically both mortgages would be cleared in about 5–6 years anyway if we stay as we are.
If we hold everything as is, we expect that once the kids are through college and both mortgages are cleared.

If we sell and clear both mortgages we would have €100 k cask surplus - and this would not need to go to the college expenses

My original thinking with the rental was that it would act like an extra pension — steady income in retirement while still holding onto the asset. Unlike a pension, it wouldn’t run down over time.

But I’m starting to question that now, especially with the changes for landlords, tax, and the general hassle involved.

So I suppose my question is:

- Does it make more sense to hold onto the property long term, or sell now, clear debt, and ease the current pressure?

I’m particularly interested in how others would weigh:

-Short-term financial pressure vs long-term gain

-Property vs pension as part of retirement

-Whether being a landlord in Ireland is still worth it

Another factor is this was our first home and we have an emotional tie but also consider the fact that we have 3 adult child that might need a home at some stage given the housing market.

Would really value any thoughts, especially from anyone who’s been in a similar position.

So I am about to start using YNAB.Self and my husband have FT incomes x 2 plus I have a freelance income and we have a rental property.

Any advise on how to deal with this ?

Should I do a separate budget and bank account for the “businesses” the rental and freelance work? I will have expenses for each and need to keep some aside for tax and pay a mortage on the rental property.

Thanks

Just wondering how you all structure your accounts ( not including pensions).
I have a PTSB, Revolut, n26 and credit unions x 2 ( without debit card)

All a bit unstructured - I have income and DDs coming from various accounts - I feel like I’d like just one !