Welcome to Ireland's award-winning Personal Finance Blog & Podcast. This week we explore a topic which is being asked more and more, what fees are payable, and what is the impact of these fees on a pension, with particular focus on Approved Retirement Fund (ARF). We will not just determine the impact monetarily but also the impact on how long that ARF might actually last you, which is kind of a big deal! This won't be a long episode, but I sure hope it helps shed some light on a dark corner! If you haven't already caught last weeks' episode, which helps explain how to maximise the duration of your ARF, you can grab that here.
Now it goes without saying that you get nothing for nothing, and that we will pay fees in both the accumulation phase of pension/retirement planning, and in the spending-phase. Much like an egg-timer, where you turn it over, there is no halting it, there is a finite amount of grains in the top and there is a finite amount of time before they all pass through. We are precious of every grain, we only have so many to use. I guess in this case what we are trying to do is to be aware of any grains that might be escaping out the sides without us even knowing about it. We're looking to plug any leaks!
The focus of this piece is very much on the impact of the fees on our ability to draw income from an Approved Retirement Fund over the course of our 'Life 2'!
Welcome to Ireland's #1 Personal Finance Blog and Podcast, with me Paddy Delaney! This week we explore an important topic for many, and that is managing our income when we leave full-time employment. When we enter 'Life 2' we are switching from accumulation to spending, which is a big shift for many people to take. I hope this piece offers some insights that will help you.
In this article I aim to answer the following questions that I frequently hear in working with clients who are in this stage, and for many are a cause of concern, until answered:
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Paddy Delaney - Informed Decisions
Welcome back to the #1 Investment and Retirement Planning Blog & Podcast in Ireland. Of late our focus has been very much around preparing our finances in advance of, and indeed after we leave full-time employment. Some people call it retirement, other people don't like that term (hear Fin's interview here!).
This week, as promised we will explore that big question for many, When can I retire? A few readers got in touch after Blog 118, where we looked at maximising the income you achieve from an ARF. They were asking why not just retire earlier? So here we go!
Oh, for those of you that don't like the term 'retirement' I'm delighted to share an alternative! I came work by a US guy, Don Ezra recently. All about preparing for retirement. He calls retirement phase 'Life Two'. He suggests it came about when the accronym for 'Life After Full Time Work' (LAFTWO) was converted into 'Life Two'. I like it! I also like 'Accumulation' phase and 'Spending' phase however if you are anything like many who find their calling in Life Two you may find yourself so busy that you don't have much time for spending!
See website for full Blog 119