CALL US TO TALK ABOUT YOUR FINANCES TODAY.

MASON WEALTH MANAGEMENT BLOG

financial planning

admin, Aug 31, 2018

The future will be here before you know it. If you have just trundled on with no financial planning in place, you could reach retirement and not have enough money to live comfortably. It is easy to think that things will work out, but with the Irish state pension being about one third of the average wage, you seriously have to ask yourself if you can manage on this reduced amount.

When you are looking at financial planning Ireland, there are several things you need to consider.

 

Current And Future Liabilities

You need to look at all the payments you have to make every week or month. Do you have debts you can settle, for example? If you are trying to pay off credit cards or a loan, just a small increase in your monthly payments can reduce the amount of interest you are being charged and help you to clear them quicker. With credit cards, you should take advantage of any offers for interest free periods, or consider having a bank loan to clear them. The interest the banks charge…

The future will be here before you know it. If you have just trundled on with no financial planning in place, you could reach retirement and not have enough...

happy retirement people

Do you realise that if you were born after 1961 you will not get your state pension in Ireland until you are 68? Also, did you know that at current rates the state pension is about 1000 euros a month? Could you survive on that amount? This is estimated to be about one third of most people’s income from their jobs. If you have a few years left before retiring you may be thinking the state pension will have increased by the time your turn comes around. You are probably right, it will have increased, but so will the prices of all our everyday needs, such a food and utilities, and you will be no better off.

Do you have plans for retirement? Are there things you have been putting of until you do not have to go to work every day? Is there a new hobby you want to take up? Do you plan to travel?  If the state pension is going to be your only income it will be hard to manage financially, let alone follow your dreams.

You…

Do you realise that if you were born after 1961 you will not get your state pension in Ireland until you are 68? Also, did you know that at...

private pension

admin, Jun 28, 2018

If you have not yet reached 30, your retirement might seem a long way off, but it will come round quicker than you think. Suddenly your income will drop from what you have been earning to the amount of a state pension, which currently stands at approx. 1000 euros a month. This is said to be about one third of most people’s income. It can be a big shock to find you only have a fraction of the money you’ve had for the years of your working life. You can help to prevent this shock happening to you by starting to invest in a private pension.

A private pension can financially secure your retirement years making sure you have adequate income to enjoy them. When you want to take more holidays, start a new hobby, or maybe move to another part of the country, it could be the lump sum from your pension pot that gives you the funds to follow your dreams.

If you were born after 1961 you will not qualify for a state pension until you are 68….

If you have not yet reached 30, your retirement might seem a long way off, but it will come round quicker than you think. Suddenly your income will drop...