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: