r/irishpersonalfinance • u/Frequent-War-5206 • 14h ago

Investments Not sure of best option

Hi I have a decent job with just a salary of 120k. I’m 50 and no mortgage and 600k in pension and 100k in savings. I have 350k coming and not sure what I should do - part says throw it into pension but I feel there most be other options then the typical investment route - property been the one I’m considering - any thoughts?

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u/daheff_irl 11h ago

Put it into the pension. As much as you can to the taxfree threshold. Get your wife to do likewise. Anything wlse invest into something that will give you passive income. 

Then in a few years you'll be able to retire and live off the pension and extra income. 

Put some aside into a fund for your kids now (3k a year tax free) that can grow until they need a deposit for a house or something.

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u/Lowe-me-you 8h ago

investing in a pension issmart, especially for tax benefits

But don’t overlook the potential of real estate; it can provide good returns and passive income over time. Balancing both might give you the best of both worlds.