One of my favourite podcasts is The Compound & Friends featuring hosts Josh Brown and Michael Batnick of 'Ritholtz Wealth' in the US. They are irreverent, funny, informative and between them and their varied guests (they call them 'friends'!) share some great insights and information.
In recent weeks they have touched on a wide variety of topics, but two in particular caught my attention most, and I felt might be worth sharing with you in this weeks' podcast.
I hope it helps.
In this week's podcast I talk about the scandal of UK investment firm Saint James' Place. It is a monstrous financial advice and investment firm regulated by the FCA in the UK.
It has been marred by scandals over the past few years. They've been accused of it all; from 'rogue' investment managers (whose clients are still trying to get their money back), to recent over-charging claims. Is there a lesson for us to learn here about it? Lets take a quick look.
I hope it helps.
In this week's podcast we talk about Retirement Investment: The Case for Equity Over Bonds.
Research published in October 2023 suggests a significant shift in retirement investment strategies is merited. The research indicates that retirees often benefit more from an equity-focused portfolio rather than the traditional equity/bond split.
In Ireland, embracing an all-equity portfolio comes with its distinct advantages and challenges for retirees.
I hope it helps.
In this week's podcast I talk about S&P500 and if it's a good idea or not to go All-In.
Should you bet all your investment or pension assets on the good 'ol S&P500? Or would you be considered 'bananas' to do so?!? As with a lot of my podcasts, this is inspired by a recent conversation. Conversations that I love to have and to explore with clients.
Could one say that a financial advisor is not doing right by their clients if they are NOT advising all their clients to go all-in on S&P500 or the Nasdaq??!
It's important to make an informed decision.
I hope this helps!
Pension Lifestyling in Ireland is rampant.
By my reckoning, the vast majority of people with pensions are invested in insurance company pension schemes using 'Pension Lifestyling'. This week I explore if that is a prudent approach for you as a pension holder on the cusp of retirement, or a useless sales tool that you should avoid like the plague.
I hope it helps.
Something a little different, and a lot shorter this week.
Far too often, when a prospective client asks me to run the rule over their financial affairs, I see complexity and sophistication, and resultant negative outcomes. It is not their fault, it is the fault of 'experts' plying their 'sophisticated' trade.
I hope it helps.
On this week’s podcast, Paddy talks about which investments of the past few years in Ireland were the best.
He will analyse two very different investment approaches; one a middle of the road insurance company approach, the other an aggressive multi-national fund manager approach. And before delving in, consider what you believe the meaning of 'best investment' is!?
Depending on your perspective it could be any of the following;
Least volatile
Lowest cost
Most transparent
Highest returns
Most diversified
Most volatile
Hope you find this helpful
In this week's podcast, we talk about retirement planning strategies for business owners in Ireland.
Retirement marks a significant milestone in life. And I believe it fair to say that it is especially so for many business owners, who have often spent years nurturing their beloved businesses!
In Ireland, effective retirement planning is crucial, not just for ensuring a comfortable retirement but also for optimising tax liabilities.
The main reason I am choosing this short topic this week is because when one hears the words 'retirement planning' one may automatically think of 'pensions'. However, in any effective strategy, a pension is only one of several tools at your disposal to maximise your financial life.
I hope it helps.
In this week's podcast, we talk about Auto-Enrolment Pensions.
In the second half of 2024, Ireland is hoping to introduce Auto-Enrolment Pensions. Many people will have heard whispers, and some may be fully aware of it. However, for many employers, there is a bit of concern as to exactly what they may or may not need to do about it all!
Let’s take a quick look.
To register for this free webinar CLICK HERE to book your spot.
In this week's podcast, we chat with Christine Kearney CTA from VengaPeople.
Christine offers tax and business advice to people living in Ireland and Irish people living abroad.
Key topics
I hope it helps.
Gifting €2m to your family tax free. At first glance, this seems impossible and/or undesirable but with smart planning it is possible to avoid all tax burdens on such a gift, legally and legitimately.
In Ireland, the tax landscape, especially concerning wealth transfer, can be a bit like navigating a maze. The culprit? Capital Acquisitions Tax (CAT), with a hefty 33% rate for gifts and inheritances. This is what we are now conditioned to, but it is frustrating when you see that in the USA for example there is no federal inheritance tax! And while there is a federal estate tax, it only applies to assets over $13m, and the bands start at 18% above that level!
But here's the good news for Irish residents. There are legal loopholes, and we're about to spill the beans on the ones that can work wonders for many of us.
I recently came across a wonderful infographic showing 20 mistakes that investors make, and which they should try to avoid. It reminded me that sometimes we in the investing world talk down to retail investors, many of whom are way smarter than those actually in the investment world!
It also reminded me of a parenting tip I got once. That was to always encourage a child to do something in a certain way, as opposed to telling them what not to do!
So, instead of saying 'Don't bloody drop that glass', encourage them by asking them 'show me how well and how carefully you can carry that glass over to the table'! The positive impact and chances of success are apparently far higher by doing the latter.
In an attempt to increase your chances of investment success, here are 20 things (yes, just 20!) that I encourage Irish investors to try and do with their long term investing.
When it comes to leaving a PAYE job or winding-up your own company, there are various types of payments you might receive, or give yourself!
But what about the tax implications of these payments? In Ireland, the tax treatment of payments on cessation of employment can seem like pie in the sky for many people – I'm here to clear the air for you!
I hope it helps.
In this week's podcast, we talk about how taxation of ARF and your Tax works in Ireland.
We will put to bed the question of how much tax you pay when you reach retirement and draw State and Private pension incomes.
We'll talk about how tax of ARFs works when you make withdrawals and for inheritance and how PRSI works when it comes to an ARF.
Hope you find it helpful.
Today we have a very interesting and unique chat with Ravi Koka, CEO and found of StockSnips.
Paddy talks with Ravi about how AI is affecting our world and also how it affects the investing and wealth management world.
Hope you find it helpful and would love to hear your thoughts!
Only last week I talked about Money Market Funds in Ireland and how they should and should not be used by businesses to generate some returns on their liquid cash.
But I want to explore whether Money Market Funds in Ireland are a real and valuable investment vehicle that everyone should consider, or if they are purely a sales tool used by financial advice firms to get money in the door!?
I hope it helps!
In this week's podcast, we embark on an oceanic exploration of a topic of paramount significance to every discerning business owner, whether or not to use Money Market Funds for Company cash!
Indeed, this topic can and will apply to business owners and non-business owners alike, it's just that business owners are usually more concerned about having large amount of money sitting in cash!
I hope it helps!
In this week's podcast, we talk to Glenn Gaughran, Head of Business Development & Marketing at Independent Trustee Company (ITC), about PRSAs and Pension Property.
With big changes in 2023 to PRSAs, Glenn tells us some great nuggets about what opportunities are available to those who have or wish to set up a PRSA.
Key points:
I hope it helps!
I was fortunate to attend FutureProof last week, the world's biggest Wealth Management and Financial Advice conference, attended by c3,000 Financial Advisors. It was held in L.A, California and so was attended mostly by US and Canadian advisors and institutions.
And given US/Canada are probably 15 years ahead of us in progressive advice in clients' interests, it is a great place to get ideas and inspiration as to how best serve clients here in Ireland.
This week, you benefit from some of that inspiration; where I share the top 5 trends that I observed from being immersed in FutureProof for 3 days
In the ever-evolving ocean of investments, where trends and fads can shift like the currents of the oceans beneath us, it's essential to keep a steady hand on the wheel.
Amid the chorus of voices clamoring for the latest high-flying assets, one must pause and reconsider the tried-and-true: bonds.
As financial advisors, it's our duty to ensure our clients make informed decisions. That's why we'll discuss why abandoning bonds might not be the wisest move, especially in today's dynamic market
This week I share some lessons we can learn from Johnny Sexton's reported pension planning in recent weeks! I've not even met the man (yet!) but he is a sporting legend, and I admire everything that he's done (even balling the referees for some of their Cup Final decisions!). And he has set yet another fine leadership example in terms of his pension planning. Let's learn from the boss!
I hope you enjoy it!
In this week's podcast, Paddy has a fantastic chat with Brad Barret the MD of a $5Bn planning firm.
Brad is a Managing Director with One Capital Management. He advises private individuals and families on their personal investment and advanced planning needs.
In addition, he oversees the firm's Retirement and Corporate Services practice. His firm manages nearly $5 Billion dollars for thousands of families across the United States and abroad.
Brad is the author of, Retire Right: Secure the Right Path to Your Retirement - here is the link to his book on Amazon, and here is a link to his website.
He is also the host of two podcasts, Make Your Money Matter and Pension Attention.
Make Your Money Matter with Brad Barrett
Key topics include:
I hope you find it helpful!
The Psychology of Money: Timeless lessons on wealth, greed, and happiness
Today I share some thoughts on holding cash, some saucy Central Bank of Ireland research on Irish households, and a warning about going all-in!
Aside from their regulatory role over financial services, Central Bank of Ireland share some really interesting research and reports. One such recent report was their 'Quarterly Financial Accounts' for Ireland.
For me, one of the greatest signals of our financial health as a nation is our 'Household Debt'. This rate hit a high in 2007 when it stood at €203BN. Working on the basis that there are c3.6m adults in Ireland this was around €60k debt for every man and woman over 18 years of age in the country!
That €203BN debt figure has fallen steadily since 2007, to €131BN in 2020, (€36k per adult) and now sits at c€120BN (€33k per adult).
Read on!
Paddy.
Independent investment advice in Ireland is a rare thing, at least under current Central Bank of Ireland regulations. Currently, only an investment advice firm in Ireland that does not receive any form of commission can call themselves 'Independent'. So does that mean getting independent investment advice in Ireland is deeply flawed, not at all! This week I'll help you learn about;
I hope it helps!