Yes, I have to pay taxes on the withdrawal, and sometimes I catch a cycle where I need to withdraw money while my index fund values are down. When I suddenly need cash, I just withdraw from the investments. Withdrawals take less than a week, which suits my needs. I keep my investments in a robo-advisor account, so when I make withdrawals the robo-advisor calculates the optimal shares to sell to minimize my tax burden. The last year or so, though, I've switched to having a minimum of expenses (about 1 month's average expenses) in my savings account and moving everything else into investments. The interest payable assumes that the lump sum is invested for the full fixed term period or a full year (365 days), as appropriate to the account type.I used to have about 4 months of expenses in a savings account as a "rainy day fund" in case of emergencies. ** Gross Return Interest is calculated daily and payable at the end of the term for a fixed term deposit account or annually at the relevant interest payment date for a demand/ notice variable rate account. Our AER calculation assumes that the account is held for a year and that the interest rate remains constant. * Annual Equivalent Rate (AER) illustrates what the interest would be if interest was paid and compounded each year. ![]() Please note that the calculator above will allow you to enter more than the maximum allowed per account per month for display purposes only, this may not reflect the actual lodgements permitted and possible Interest earned. Maximum lodgements permitted - You can lodge a maximum of €1,000 per month to the 21 Day Notice and Online Regular Saver account types.For more information on different rates and tiers available, please click the Info & Apply button for each account or take a look at our Deposit Interest Rates sheet here.All gross rates quoted are available for accounts opened today, but are subject to change.For variable interest rate accounts - it is assumed for the calculation that the gross interest rate remains unchanged during the full year.The Gross Return Interest will vary from the calculation displayed where one (or more) of the lodgements is a cheque lodgement, or an additional cash lodgement(s) is made to, or a withdrawal(s) is deducted from the account balance.A month is defined for the calculation as a calendar month. For regular savings the calculation assumes monthly lodgements as entered above are made on the first day of each month and for the same amount.For lump sum deposits the calculation assumes the lump sum entered above is invested for the full fixed term period or a full year (365 days), as appropriate to the account type. ![]()
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