Do not get me wrong, financial advisors provide a critical service. What they offer and how it is paid for results in limitations on who and how they can support them. This is borne out by a recent case in my own practice. A teacher in their early 40’s was involved in a serious car accident. The consequence was that they were unable to return to work. The great news was that … [Read more...] about The Limitations of a Financial Advisor
Let’s face it, we’ve all had the ‘what would you do if you won the lotto’ conversation! Tales of sunny islands, spectacular parties and substantial sharing of funds among friends and family normally spring to the top of that wistful and dreamy list! Not to compare winning the lotto with your retirement years but in that stage of your life, after 40 – 50 years of hard work, you … [Read more...] about 5 things to financially plan for at 50
I’ve been heartened in recent times by an increase in approaches from clients seeking Financial Planning services. It seems that, despite a total lack of promotion of Financial Planning, consumers have cottoned on to the downsides of free financial advice and are looking for something more. I put the word free in italics because of course nothing is free. If there is no charge … [Read more...] about Money and Time
If the law is an ass, then the branch of law with the biggest ass must be Schedule 23B of the Taxes Acts – the bit that deals with pensions and divorce. Most people seeking a divorce are looking for a little closure – a permanent parting of the ways, a decisive pulling of the plug, a good bye and good riddance type of closure. Unfortunately, thanks to Schedule 23B, any of … [Read more...] about Divorce and Pensions: Does my legal bum look big in this?
The pension market in Ireland is continuing its inexorable shift from the traditional defined benefit (DB) to a defined contribution (DC) landscape. As the names suggest, DB looks to guarantee a benefit, or income in retirement, whilst DC only defines the contribution amount from the employer or employee. Therefore the actual outcome for a DC customer depends on a myriad of … [Read more...] about Volatility, old age, and investment paralysis.