Steven Barrett's Archive

How much can I afford to lose?

How much can I afford to lose?

With markets continuing to have a torrid time and now the start of job losses in the tech sector, there is an increased level of worry for investors. Last year saw bumper returns for investors so this years volatility is somewhat of a shock for investors. Some are beginning to ask, how much can I […]

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Investing isn’t just for rich people

There was a time when if you wanted to invest, you had to go to a stockbroker and they would place the trades for you. They earned a commission on placing the trades, so it was only worth their while making sizable investing. In other words, you had to be rich to invest. Current Day […]

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The number myth

The number myth

Speaking with a new client last week, he told me that his colleague’s financial advisor said she needed €1 million in her pension at retirement. He wanted to know if he needed €1 million as well? I had no idea. He was a new client and I didn’t know enough about him and what he […]

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The Finance Bill opens up PRSAs

The Finance Bill opens up PRSAs

The Finance Bill has made some interesting changes to funding for retirement, namely in PRSAs. Current rules At present, employer paid contributions to an employee’s PRSA is a Benefit in Kind (BIK) for tax purposes. But the BIK is not put through the PAYE system so the it does not attract USC & PRSI taxes, […]

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Central Bank relaxes its borrowing rules

The Central Bank has relaxed its borrowing rules for some borrowers, slightly. In 2015, they introduced strict borrowing rules as a result of the loose lending that went on during the Celtic Tiger that resulted in many people having unservicable debt. Loan to Income limit increased for first time buyers First time buyers can now […]

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Investing favours the patient

Investing favours the patient

2022 has been a horrible year for investors. Inflation continues to be high, interest rates have been increased agressively, Russia invaded Ukraine and energy costs have skyrocketed. All of these factors point towards a recession in the next few months/ next year. Year to date, the market is down -9.70%. It is understandably a hard […]

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Using an expert to get better results

Using an expert to get better results

The gym I go to has boxing bags. I like doing a Boxing HIIT workout with them. It’s great cardio and I always feel great afterwards. But I don’t know how to box. When you see some of the other guys hitting the bags, you realise that there is a lot more to it than […]

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The sorry mess that is the State pension

The sorry mess that is the State pension

We all know the State pension is a ticking timebomb. The Pensions Roadmap 2018 – 2023 stated that over the next 40 years, the ratio of workers to pensioners is expected to fall to 2.3:1. This is going result in a pension deficit of €400 billion over the next 50 years if changes weren’t made. […]

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Report of the Commission on Taxation and Welfare - Pensions

Report of the Commission on Taxation and Welfare – Pensions

The Report of the Commission on Taxation and Welfare was published last week. At 547 pages, this is a lengthy document and there is a huge amount of recommendations in it. As there is enough just on pensions, that is what I am going to concentrate on now. I will come back to some of […]

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Fear of dying too young

Fear of dying too young

Even before annuity rates dropped to the low rates that they are today, annuities had very much given way to the ARF as the retirement option of choice. Even though they were giving up guarantees and assuming all the investment risk, retirees preferred to have control of their own retirement fund. One of the biggest […]

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