Like any individual in any profession, every Financial Advisor will have different strengths and weaknesses. They each have different skill sets. None of them are perfect, and I include myself in that!
In this short piece, I will delve into the importance of what financial advisors can do with and for their clients, even though many clients receiving said advice might not immediately recognise what they are actually helping them do, achieve and avoid!
Key Points
This week we have something a little different. We recently hosted a webinar with Pension and Revenue expert Clive Slattery. If you missed the webinar, here is the audio, which I hope you find helpful.
Clive will talk about recent PRSA changes.
- The implications for PAYE & Business Owners
- How & Why these changes have come about
- The significant tax opportunity that exists
PRSAs are relevant to most people as it is a pension that anyone can start.
Thanks
What happens to my pension benefits if I suffer a death in service? (die while being an employee and a member of the company pension scheme!).
On a regular basis, we help clients to manage their pension planning, so as to avoid potential pitfalls in this area. Reason being, it has the potential to have a hugely negative impact on one's financial future.
What you'll learn:
I hope it helps
This week we are joined by William Lacey who we followed on his transition to retirement in a series of podcasts.
William talks about the lessons he has learned from his journey and the key things he would do if he were to transition to retirement again.
The goal is to hopefully, by sharing his experiences help others that are on their retirement journey.
I hope it helps
This week I talk about Estate Planning; what to think about and what is important.
While it might not be a topic that gets you all revved up, Estate Planning is considered to be a key aspect of managing one's long-term personal finances, regardless of how simple or complex their financial situation.
Key Estate Planning Points
I hope it helps.
Even subconsciously, the question surely pops into most people's heads; "Why Do I Need A Will?"
Given that a large percentage of the human race is reluctant to take action now that will benefit their future self, it is no surprise to hear that the majority of people in Ireland haven't made a Will (which will benefit their heirs and loved ones, and not themselves!). The Farmer's Journal put that figure at 70% of Irish people do not have a Will as of 2022.
In this week's episode, in an effort to shift that needle, I will share with you 7 Important considerations in making a Will.
This week we bring you our first-ever Guest-Post, all about Entrepreneur Relief versus Pension Contributions. I will keep the author a surprise until the end of the piece (don't fast forward!), and it might indeed be a fairly big surprise when you do discover who wrote it!
All I (Paddy) will say, is that I sure hope you don't like this style better than my own :).
This week I share 12 clear signs it's time to retire from your full-time job. Perhaps it is to start some new professional journey, a new personal journey, or a combination of both.
I share this piece in the hope that it will give you hope! Give you hope if you are on the cusp of retirement and doubting if you can or you can't. Give you hope if you are wondering if you are alone, mad, or simply wrong to retire.
Key Takeaways
I hope it helps.
If you have ever heard of Custom House Capital, Dolphin Trust, or Solar 21, you will know that Unregulated Investments in Ireland are commonplace and contentious.
I'm certainly not an expert on these types of products, but I know enough to realise that I wouldn't touch unregulated investments with my own money, never-mind someone who trusts me to mind theirs! So this week, I'll share with you:
This piece is being shared based on a suggestion from a long-term podcast listener, so thanks for the prompt!
This week Paddy chats with Jason Parker. Jason is the author of Sound Retirement Planning, the host of the Sound Retirement Radio podcast, a frequent guest on ABC, NBC and Fox, and the inventor of the Retirement Budget Calculator.
Key talking points:
I hope you enjoy the conversation.
Resources:
RBC - Calculator (retirementbudgetcalculator.com)
Books:
Ryan Holiday – Discipline Is Destiny
Ryan Holiday – The Obstacle Is the Way
James Allen – As a Man Thinketh
Randy Alcorn – The Treasure Principle
Other:
Brian Buffini Podcast It's a Good Life on Apple Podcasts
Choosing a Financial Advisor in Ireland is not an easy task! There are many different types of advisors, operating in different ways, being remunerated differently, and all delivering different services.
In this piece, I will share with you;
I hope it helps.
In this episode, Paddy has a great chat with Paul Merriman from The Merriman Financial Education Foundation in the USA.
The foundation is dedicated to providing financial education to those of all ages.
Paul shares his wealth of knowledge from decades of experience from starting his own Merriman Wealth Management after retiring to setting up his foundation.
Key topics covered:
I hope you enjoy this insightful interview.
Resources:
Merriman Financial Education Foundation Lifetime Investment Calculator - Paul Merriman
Here are some helpful resources from The Merriman Financial Education Foundation:
Selecting of the appropriate amount of fixed income (Fine Tuning Your Asset Allocation)
Choosing the best fixed distribution asset allocation
Choosing the best flexible distribution asset allocation
The Merriman Financial Education Foundation
Free E-book from Paul - get it here We’re Talking Millions! 12 Ways to Supercharge Your Retirement or here Free E-book
Your Money and Your Brain: How the New Science of Neuroeconomics Can Help Make You Rich by Jason Zweig - Paul's book recommendation
This week I bring you some facts, no metaphors, no story, just facts about recent and important pension changes in Ireland!
I estimate that there are approximately 100 people retiring today, and tomorrow etc. etc. Of these c100 people retiring each day of the week, some are really well prepared and will have a smooth journey.
However, others will be less prepared and so face a little more challenge and hurdles. My hope is that this piece will help a few to blow any hurdles out of their way with ease!
2022 was a testing investment year for many. Rather than jump headlong into 2023, let's take a few minutes to reflect and observe what we can learn from 2022! To me, there are 3 main investment lessons to be taken from last year:
Welcome back to the latest Informed Decisions podcast: Transitioning from full time employment. This week we have William Lacey back to talk about his journey toward retirement.
We continue to talk about his progress, his thoughts, and his reflections on what he has learned since he began this journey with us in February 2022.
Fritz Gilbert - The Bucket Strategy In A Bear Market - The Retirement Manifesto
Investing in Ireland can be like staring into a fog at the best of times, until now of course! You have stumbled upon the oracle which will clear that fog for you! In today's podcast I will talk about:
I hope it helps
You have decided to make a career change or take a redundancy offer but can’t help but ask, ‘what happens to my pension benefits?'.
When leaving your job, apart from the small matter of securing your financial future, what to do with your pension benefits is one of the most important things you need to consider. This can be especially so if you and your employer have been diligently contributing to your pension scheme for many years!
Key Points:
One of the biggest questions for people who are transitioning from full-time employment is ‘how does spending change in retirement?’. It is a difficult question to answer, but there is a lot of research out there, which points to some key takeaways.
I hope it helps.
Thanks
In this week’s episode, I chat with Dan Cooper, CEO of ROC Investments, about investing in the character of CEOs of large cap companies.
I hope you find the conversation interesting and helpful.
Thanks
Book Recommendations:
'Safe' Investment funds in Ireland are drowning in the past year, much to the surprise of many investors. In this short piece, you will learn:
Thanks
In this week’s podcast, Paddy talks to Jordan Grumet, a.k.a. Doc G. Jordan is a Hospice doctor who found a passion for personal finance, public speaking, and finding purpose in life.
Jordan's experience working with patients in end of life care brings a really unique, insightful and interesting perspective to living a life with no regrets.
Key topics we cover:
- What is important to you
- What he has learned from hospice patients about life regrets
- Financial independence
- Finding what's important to you
- Discovering what your identity really is
I hope it helps
Thanks
Jordan's podcast - Earn & Invest
Taking Stock: A Hospice Doctor's Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life
The White Coat Investor: A Doctor's Guide to Personal Finance and Investing by James M. Dahle MD
The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life by JL Collins
This week's podcast tackles 8 of the most common financial mistakes retirees make.
I hope it helps.
If you are a soon-to-be-retiree, or an already-retiree, you may well be grasped with fear in times like these.
In three short parts, I will outline where we are in the greater scheme of things.
I hope it helps
Paddy
This week, I’m bringing you an interview with Santi Burridge, who is the CEO of what’s going to be a very impactful company, I believe in the world of financial planning and financial advice. I met and interviewed Santi at the Future Proof Festival two weeks ago in Los Angeles.
Santi is a great guest, full of energy and who is driving forward. He is here to share what they're doing with Lumiant by bringing value based financial advice to the world and ultimately helping people to live their best life.
He also talks about what has happened to financial advice in general in Australia, which has followed a similar track to the UK and America. And probably a tract that Ireland is heading down in the future.
We also speak about the non-financial spouse. Those people who quite often get left behind by financial advisors and why they are people that we need to engage.
I hope you enjoy the conversation.
The Knowledge Project: #142 Marshall Goldsmith: The Essentials Of Leadership