Investing in property through a Personal Retirement Savings Account (PRSA) can be a smart way to earn tax-free rental income to fund your future lifestyle choices. Here are some tips on how to do it:

  1. Set up a PRSA account: The first step is to set up a PRSA account. This can be done through a financial advisor or an approved PRSA provider.
  2. Choose the right property: When selecting a property, consider the location, potential rental income, and the overall market conditions. Do your research and seek professional advice before making any investment decisions.
  3. Fund your PRSA account: You can fund your PRSA account through regular contributions or lump sum payments.
  4. Purchase the property: Once you have enough funds in your PRSA account, you can use them to purchase a property. The property will be held in the name of the PRSA holder.
  5. Manage the property: You need to appoint a licensed property management company to handle the day-to-day management of the property. They will collect rent, handle maintenance, and deal with any tenant issues.
  6. Earn tax-free rental income: The rental income earned from the property will be tax-free and can be used to fund your retirement or other lifestyle choices.
    Overall, investing in property through a PRSA can be a smart way to earn tax-free rental income and fund your future lifestyle choices. However, it is important to do your research, seek professional advice, and carefully manage the property to ensure a successful investment

Want to learn more? Why not sign up to ourĀ premium newsletter

Leave a Reply

Your email address will not be published. Required fields are marked *