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MASON WEALTH MANAGEMENT BLOG

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...

retirement in Ireland

admin, May 29, 2018

Planning for retirement in Ireland is becoming more important than ever. The state pension is now not paid until you have reached the age of 66, and gender is not a consideration. You may not want to work until you are that age, and even if you do, the state pension will probably not be enough if it’s your only income.

To qualify for the state pension, as well as reaching the required age, you must have enough contributions into the scheme and you should have started those contributions before you were 56 years old. The number of contributions you need to have made to be entitled to the pension is quite complex and varied, and the types of contribution are also accounted for.

Retirement planning really needs to involve more than the state pension, as the government can change the rules and amounts whenever they want. They have already done so this year, and it does appear to be in favour of pensioners, but there is never any guarantee the next lot of changes will be.

 

Start…

Planning for retirement in Ireland is becoming more important than ever. The state pension is now not paid until you have reached the age of 66, and gender is...

admin, Apr 30, 2018

Retirement planning is something that’s often put on the back burner while other important stages of life are happening. You could be buying your first home, and then raising a family. Retirement can seem an awful long way off in the distant future. Retirement will come much quicker than you realise, and you could regret not putting any retirement planning in place. It doesn’t have to be a complicated process, especially if you know how start the ball rolling, or you can get the professionals in this field to help you. To get you started here are 7 tips to help with your retirement planning.

 

1. Start Planning Early

The earlier you start your financial planning for retirement the better. Just a few years of delay can make a sizeable difference to your pension. This is because money makes more money. In the first year your contributions to a pension scheme will make some money. In the second year you have your contributions plus the previous years profit making money. It is a snowball effect, and the difference…

Retirement planning is something that’s often put on the back burner while other important stages of life are happening. You could be buying your first home, and then raising...