Working with retirees all the time, a question that forms part of their planning process is what to do with their pension lump sum? You can get up to €440,000 net, which is a lot of money. So what should you do it with? Pay down debt While most people have their mortgages paid off […]
When it comes to income in retirement, people can be quite cautious in what they do with their retirement income, wary that they will run out of money. In a lot of cases, it means getting to the end of their life with an unfulfilled retirement and a big pot of money left to their […]
Working with business owners over the last 20 years, there is certainly a changing approach to retirement. Thanks to technology, work isn’t as physically demanding as it used to be for most of us. Even being able to work from home saves people the need to commute to work all the time. What that means […]
Hardly anyone buys an annuity these days. People have a fear of dying young and the life company keeping their money. And for such a long time, rates were so low, buying an annuity was just not worth it. With rates improving, it is worth looking at annuities again? Maybe for some of your retirement […]
According to a survey carried out by Royal London, 72% of the Irish working population would like to retire at age 60 or earlier. Given the poor coverage of pensions in Ireland, how are almost three quarters of the working Irish population going to be able to afford to retire early. Retiring at 60 is […]
The maximum pension pot you could have was €5,418,085 at one point. It was drastically cut to €2.3 million two years later before reducing to €2 million in 2014. Despite everything else going up over the last 10 years, the pension threshold didn’t. The result is that is brought a lot of people over […]
The introduction of the ARF brought a lot of benefits and flexibility to people in retirement. But with the retiree assuming all of the investment risk, it also brought a sense of vulnerability. What if I manage it wrong and run out of money? Retirement can be for 30 years plus and a lot can […]
You used to be able to have as big a pension pot as you wanted/ could afford. In 2005, a cap of €5 million was introduced. It was increased to €5,418,085 in 2008 before being reduced to €2.3 million in 2010 and then down to €2 million in 2014. It hasn’t changed since. In December […]
Everyone knows that the earlier you start your pension, the better off you will be in the end. Afterall, some of your money will be invested for 40 years. I have come across a number of cases recently where people are nearing retirement and are drastically trying to play catch up. These are people who […]
Retiring is one of the biggest events in your life. You have been working for almost all of your adult life. It is an area where you have a considerable amount of expertise, you are respected for what you do, it takes up more time than anything else you do, it is the source of […]