Our Blog.
New Pay-Related Jobseeker’s Benefit Launches in Ireland – What You Need to Know
From Monday, April 1st, 2025, Ireland's new Pay-Related Jobseeker’s Benefit is officially live – marking a major shift in how unemployment support works.
This revamped scheme replaces the flat-rate Jobseeker’s Benefit with tiered payments based on your previous earnings, offering better protection for workers who suddenly find themselves unemployed.
What’s Changing?
Instead of everyone receiving the same amount, you’ll now get a percentage of your previous income for up to 6 months, followed by a flat rate. Here's the breakdown:
60% of gross earnings (up to €450/week) if you earned €815+ per week
55% of gross earnings (up to €375/week) if you earned between €605–€814
50% of gross earnings (up to €300/week) if you earned between €300–€604
A flat rate of €232/week applies after 6 months (if still eligible)
Why It Matters
This is a major step towards a more equitable social welfare system. It mirrors systems already in place across Europe, where support is tied to income. It’s especially helpful for middle-income earners who may struggle with a sudden drop to a flat payment.
Who’s Eligible?
To qualify, you must:
Be aged 18–66
Have paid enough PRSI contributions
Be genuinely seeking full-time work
This benefit is only for people who lose employment involuntarily – it’s not available if you leave your job voluntarily.
Need Help Navigating This Change?
If you're unsure how this affects you, or you're planning a career move, feel free to reach out. Staying informed means staying prepared.
Contact Us — financialplanner.ie
2nd April 2025
Pension Planning for Self-Employed Professionals in Ireland: What You Need to Know in 2025
If you're self-employed in Ireland, pension planning often falls to the bottom of the to-do list. Without an employer scheme, it’s easy to delay—but doing so could mean missing out on serious tax savings and long-term security.
Here’s what self-employed professionals need to know about pensions in 2025.
Why Pensions Matter When You're Self-Employed
Unlike PAYE employees, self-employed individuals must take full responsibility for retirement planning. There’s no automatic pension enrolment or employer contributions, so it’s up to you to plan ahead.
A pension allows you to:
Reduce your income tax bill through generous tax relief
Grow your retirement fund with compound interest
Secure financial independence in later life
Your Pension Options in 2025
1. Personal Retirement Savings Account (PRSA)
Flexible, portable, and now more attractive under 2023 reforms. No employer required.
Tax relief on contributions at your marginal rate
No benefit-in-kind (BIK) on employer contributions (if you own a company)
Investment choice and transparency
2. Personal Pension (RAC)
Similar to a PRSA but slightly more restrictive in terms of transferability. May suit sole traders who want a traditional structure.
3. Occupational Pension via Company Structure
If you’re a company director, consider setting up an Executive PRSA or occupational scheme through the business for higher contribution limits.
Tax Relief on Contributions
In 2025, you can claim tax relief on pension contributions up to 40% (depending on your income level). Contribution limits are age-based. For example:
Under 40: 20% of net relevant earnings
40–49: 25%
50–54: 30% (Subject to an earnings cap of €115,000)
Tips to Maximise Your Pension
Start as early as possible—even small monthly amounts add up
Review your pension annually
Work with an advisor to choose the best structure and investment mix
Top up before the 31 October tax deadline to claim relief
Don’t Leave It Too Late
Retirement may seem far off, but starting now means less stress and more financial freedom later. A well-structured pension is one of the most powerful tools for self-employed wealth building.
Need help getting started? Book a free consultation with a financial advisor today and get a pension plan that works for you.
Contact Us — financialplanner.ie
26th March 2025
Investing
Investing
Why Now is a Great Time to Invest: Capitalising on Market Declines
Investors often feel uneasy when markets are down, but for those with a long-term strategy, a downturn can present some of the best investment opportunities. If you’re in Ireland and considering investing, now might be the perfect time to enter the market.
1. Buying at Lower Valuations
When markets decline, asset prices drop, meaning you can buy quality stocks, bonds, or funds at a discount. This lowers your entry point and increases the potential for long-term gains when the market rebounds.
2. Market Cycles Favor the Patient Investor
History has shown that markets recover over time. While short-term fluctuations can be unsettling, investors who remain committed and continue investing during downturns often reap the benefits when markets rise again.
3. Compound Growth & Dividend Yields
By investing when prices are lower, you maximise potential compounding returns. If you invest in dividend-paying stocks, reinvesting those dividends during downturns allows you to accumulate more shares at lower prices, boosting long-term income.
4. Inflation & Interest Rate Considerations
With inflation moderating and interest rates stabilizing, now may be an opportune time to buy undervalued assets before economic confidence strengthens and prices climb again.
5. Strategic Approaches for Investors
Diversification: Spread your investments across different sectors and asset classes to manage risk.
Euro-Cost Averaging: Invest a fixed amount at regular intervals to smooth out price fluctuations.
Long-Term Mindset: Avoid panic selling and focus on long-term growth rather than short-term volatility.
Final Thoughts
Market downturns are not to be feared but embraced as an opportunity. If you have capital to invest, consider working with a financial advisor to identify quality investments that align with your risk tolerance and goals.
Now could be the perfect time to position your portfolio for future growth—because as history has shown, what goes down, eventually comes back up.
Contact Us — financialplanner.ie or Call 01 627 94 95 for further information on investments
19th March 2025
The Irish Property Market: Opportunities for Future Homebuyers
The Irish property market is evolving, with moderating price increases, government initiatives, and economic stability creating new opportunities for future homebuyers. While challenges persist, the overall outlook remains optimistic.
Current Market Trends:
After years of rapid price surges, house prices in Ireland continue to rise, but at a slower pace. In 2024, property prices increased by approximately 9%, lower than previous years but still reflecting strong demand. This measured growth benefits buyers by preventing overheating while maintaining market stability.
Mortgage rates remain a key factor. While the European Central Bank (ECB) has paused rate hikes, significant reductions have yet to materialize. However, potential rate cuts in 2025 could make borrowing more affordable, improving conditions for prospective homeowners.
Positive Signs for Future Homebuyers
Several factors are shaping a more favorable outlook for homebuyers:
✅ Potential for Lower Mortgage Rates
If the ECB lowers interest rates in 2025, mortgage affordability will improve, increasing buyers’ purchasing power. Considering fixed-rate mortgage options may be advisable as rates begin to decline.
✅ Government Support for Buyers
The Irish government is investing €6 billion in housing initiatives, aiming to deliver 40,000 new homes by the end of 2024. This increased supply could help ease affordability concerns.
✅ Economic Growth & Job Stability
Ireland’s economy is projected to grow by 3% in 2025, supporting strong employment and wage growth. This ensures continued demand for housing and enhances buyers’ confidence.
✅ More Housing Developments
While demand still outstrips supply, new construction projects in urban and suburban areas will improve availability, gradually reducing competition among buyers.
What Homebuyers Should Do Now
If you're planning to buy a home in Ireland, consider these steps:
✔ Monitor Interest Rates – Stay updated on mortgage rate trends to secure the best financing options in 2025.
✔ Explore Government Schemes – First-time buyers and upgraders should review available grants and support programs to reduce homebuying costs.
✔ Stay Patient & Well-Informed – As market conditions shift, strategic timing and thorough research could help buyers secure better deals.
Final Thoughts
The Irish property market remains dynamic, with steady price growth rather than stagnation. While affordability remains a challenge, falling mortgage rates, increased housing supply, and a stable economy create promising opportunities for homebuyers.
For those looking to enter the market, 2025 could be a more favorable time, as conditions continue to balance. Considering fixed-rate mortgage options as ECB rates decline may also be a smart financial move.
Contact Us — financialplanner.ie
10th March 2025
ECB Rate Reduction Due to be Announced Later Today
The European Central Bank (ECB) is anticipated to cut its main refinancing rate by 25 basis points to 2.5% on Thursday.
Impact on Irish Homeowners and Buyers:
Variable-Rate Mortgages: Borrowers with variable-rate mortgages may see reduced monthly payments as lenders adjust rates downward.
Fixed-Rate Mortgages: Those seeking new fixed-rate mortgages could benefit from more favorable interest rates, making home financing more affordable.
Existing Fixed-Rate Holders: Homeowners with existing fixed-rate mortgages won't experience immediate changes but might consider refinancing if penalties are minimal.
Considerations:
Lender Policies: The extent of rate reductions depends on individual lender decisions and market competition.
Economic Conditions: While lower rates can ease borrowing costs, they may also reflect broader economic challenges.
In summary, the expected ECB rate cut is likely to benefit Irish homebuyers and owners through reduced borrowing costs, though individual outcomes will vary based on specific mortgage terms and lender practices.
Example of Mortgage Savings Due to ECB Rate Cut
Mortgage Amount: €300,000
Loan Term: 25 years
Interest Rate Before Cut: 3.5%
Interest Rate After Cut: 3.25% (25bp reduction)
Impact on Monthly Payments:
Before Rate Cut: €1,501.87 per month
After Rate Cut: €1,461.95 per month
Monthly Savings: €39.92
Annual Savings: €479.06
This example shows how even a small 0.25% rate cut can provide noticeable savings for homeowners.
Contact Us — financialplanner.ie 01 627 94 95
6th March 2025
The Importance of Financial Planning: Protecting Your Future
Financial planning is a crucial step in securing a stable and successful future. Whether it’s protecting your income, growing your wealth, or planning for retirement, having a clear plan in place can make all the difference. In Ireland, many people put off financial planning, assuming it’s only for the wealthy. However, having a structured plan ensures that you can meet your goals, prepare for unexpected events, and enjoy peace of mind.
What Financial Planner Ltd Will Do for You
At Financial Planner Ltd, we provide expert advice and guidance tailored to your personal and financial goals. We help you:
Assess Your Current Financial Situation – Review your income, expenses, savings, and debts to develop a clear understanding of your financial health.
Set Realistic Goals – Whether it's buying a home, funding education, or planning for retirement, we help you create achievable financial goals.
Create a Protection Plan – Ensure you have the right insurance coverage, including life insurance, income protection, and critical illness cover, so your family is financially secure in case of unexpected events.
Develop an Investment Strategy – Help you invest wisely based on your risk tolerance and financial goals, ensuring your money grows over time.
Plan for Retirement – Assist in selecting the best pension options to secure your financial future.
Build an Emergency Fund – Ensure you have a financial cushion in place for unexpected expenses.
Maximise Tax Efficiency – Guide you on ways to take advantage of tax reliefs and other financial benefits.
Protection: Safeguarding Your Finances
Life is unpredictable. Without the right financial protection in place, unexpected events like illness, job loss, or the passing of a loved one can create serious financial strain. Protection planning includes life insurance, income protection, and critical illness cover. These safeguards ensure that if the unexpected happens, you and your family won’t struggle financially.
For example, income protection ensures that if you are unable to work due to illness or injury, you will still receive a portion of your income. Similarly, life insurance can provide financial security for your family in the event of your passing, helping to cover debts, daily expenses, or even education costs for children.
Investment: Growing Your Wealth
Keeping savings in a bank account is a safe option, but with low interest rates, your money may not grow as much as you need. While saving is essential, investing offers the opportunity to build wealth over time. Investment options include property, shares, bonds, and pensions, each with varying levels of risk and potential return.
A well-planned investment strategy can help secure financial independence and long-term stability. By taking advantage of compound growth, where returns generate additional earnings, your money can work harder for you. A strong financial plan balances lower-risk and higher-yield investments, helping you achieve important financial goals such as buying a home, funding children’s education, or preparing for a comfortable retirement.
Financial Planner has partnered with Raisin Bank to offer excellent investment opportunities. Through this partnership, clients can access a range of competitive investment products that align with their financial goals and risk tolerance. Whether you're looking for secure fixed-term deposits or more diversified options, our collaboration with Raisin Bank provides a trusted platform for growing your wealth efficiently.
Retirement Planning: Securing Your Golden Years
Many people in Ireland rely solely on the state pension for retirement, but this may not be enough to maintain a comfortable lifestyle. Having a personal pension or workplace pension plan ensures that you can maintain financial independence when you retire.
Starting early is key. The earlier you begin saving for retirement, the more you will benefit from compound interest and tax relief on pension contributions. With careful planning, you can ensure you have enough funds to travel, enjoy hobbies, and live comfortably without financial stress in your later years.
Why Financial Planning Leads to Success
Studies have shown that people who create and follow a financial plan are more likely to achieve financial success. Here’s why:
Clear Goals: A financial plan helps set realistic short-term and long-term goals, such as buying a home, starting a business, or retiring early.
Better Decision-Making: Having a plan helps you make informed financial decisions rather than acting on impulse.
Emergency Preparedness: A good plan includes an emergency fund, ensuring you have money set aside for unexpected expenses.
Reduced Stress: Knowing your finances are in order provides peace of mind, reducing financial anxiety and allowing you to focus on enjoying life.
Maximising Opportunities: With a financial plan, you can take advantage of tax reliefs, investment growth, and other financial benefits that may otherwise be overlooked.
Take Action Today
Financial planning isn’t just for high earners—it’s for everyone. Whether you’re starting out in your career, buying your first home, or preparing for retirement, having a financial plan ensures you are in control of your future.
If you’re unsure where to start, Financial Planner Ltd can help you create a tailored plan that suits your needs and goals. The best time to plan for the future is today. Start now, and give yourself the financial security and freedom you deserve.
Contact Us — financialplanner.ie 01 627 94 95
27th February 2025
Ireland's First National Financial Literacy Strategy: A Game Changer for Personal Finances
On February 20, 2025, Minister for Finance Paschal Donohoe unveiled Ireland’s inaugural National Financial Literacy Strategy. This groundbreaking five-year plan is set to reshape the financial landscape by enhancing financial literacy nationwide. The initiative aims to equip individuals with the knowledge and skills needed to make informed financial decisions, fostering greater financial well-being and resilience among Irish citizens.
Why Financial Literacy Matters
Financial literacy is crucial in today’s fast-changing economic environment. From managing day-to-day expenses to making long-term investment decisions, understanding financial concepts helps individuals navigate economic challenges, reduce debt, and plan for a secure future. Despite its importance, many people lack the necessary financial education to make sound financial choices. The introduction of this strategy marks a significant step toward addressing this issue at a national level.
Key Objectives of the Strategy
The National Financial Literacy Strategy focuses on several core objectives:
Improving Financial Education – Introducing financial literacy programs in schools, workplaces, and communities to ensure individuals of all ages have access to essential financial knowledge.
Enhancing Access to Financial Services – Making financial products and advisory services more accessible, particularly for vulnerable groups and low-income households.
Promoting Better Financial Decision-Making – Encouraging individuals to develop strong money management habits, reduce debt, and increase savings.
Leveraging Digital Tools – Utilizing technology to provide interactive financial learning platforms, budgeting apps, and online resources that simplify financial management.
Increasing Public Awareness – Running nationwide campaigns to highlight the benefits of financial literacy and encourage proactive engagement with personal finance.
How This Affects Individuals and Families
For individuals and families, the strategy means more opportunities to learn about personal finance, from budgeting and saving to investing and retirement planning. With structured education programs, people will be better equipped to make financial decisions that align with their goals, reducing financial stress and improving overall economic stability.
The Role of Financial Institutions
Banks, credit unions, and fintech companies are expected to play a crucial role in supporting this initiative. By providing financial education resources, simplifying product offerings, and enhancing transparency, financial institutions can contribute to a more financially literate population.
Conclusion
Ireland’s National Financial Literacy Strategy represents a transformative initiative aimed at strengthening financial confidence and stability for individuals across the country. By fostering a culture of informed financial decision-making, this plan has the potential to create a more financially secure future for everyone. As the strategy unfolds over the next five years, it will be crucial to track its impact and ensure that financial education becomes an integral part of everyday life in Ireland.
Stay informed, stay financially savvy!
Contact Us for Financial Advice or Call 01 627 94 95
21/02/2025
The top financial concerns for Irish Consumers in 2025 and how to navigate them
As we move further into 2025, Irish consumers are facing a series of financial challenges that are shaping their spending habits and financial planning decisions. From rising living costs to fluctuating interest rates, it is more important than ever for households to take proactive steps to secure their financial future. In this blog, we explore the key financial concerns for Irish consumers in 2025 and provide practical strategies to navigate them.
1. Rising Cost of Living
One of the most pressing concerns for Irish households is the increase in everyday expenses. The cost of essentials, including groceries, utilities, and insurance, continues to climb, putting pressure on disposable incomes. The recent VAT increases on gas and electricity have only added to the financial strain, making energy costs a significant worry for many families.
How to Manage This:
Budgeting: Creating a detailed household budget can help track spending and identify areas to cut costs.
Energy Efficiency: Investing in energy-efficient appliances and seeking government grants for home insulation can help lower utility bills.
Smart Shopping: Leveraging discount retailers and loyalty programs can reduce grocery expenses.
2. Uncertain Interest Rates and Mortgage Costs
While inflation may be stabilizing, interest rates remain a key concern, particularly for homeowners and those looking to buy property. Rising mortgage repayments and potential shifts in ECB rates mean that borrowers must stay informed and consider refinancing options where possible.
How to Manage This:
Fixed vs. Variable Rates: Homeowners should assess whether switching to a fixed-rate mortgage would provide more stability in uncertain times.
Overpaying on Mortgage: Where possible, making extra payments on your mortgage can help reduce long-term interest costs.
Seeking Financial Advice: Consulting a financial planner can help identify the best mortgage strategy tailored to individual circumstances.
3. Energy Price Hikes
With ongoing global energy market volatility, Irish households are bracing for further increases in electricity and gas bills. These rising costs make it more expensive to heat homes, power appliances, and maintain a comfortable standard of living.
How to Manage This:
Switching Providers: Comparing energy providers and switching to a more competitive plan can lead to cost savings.
Government Supports: Keeping an eye on available grants and schemes can help offset some of the increased energy costs.
Reducing Consumption: Simple measures like using energy-efficient bulbs, reducing water heating times, and turning off unused appliances can lead to significant savings.
4. Savings and Investments in a Changing Market
With banks poised to lower interest rates on savings, consumers are seeking better ways to grow their money. Inflation eroding the value of cash savings means that alternative investment options, such as stocks, bonds, or pension funds, are becoming more attractive.
How to Manage This:
Diversification: Investing in a mix of assets can help mitigate risks and improve long-term financial security.
Pension Contributions: Increasing pension contributions ensures a more secure retirement and takes advantage of tax benefits.
Financial Literacy: Educating oneself on investment options or working with a financial planner can lead to more informed decisions.
5. Economic Uncertainty and Global Factors
The global economic landscape remains unpredictable, with geopolitical tensions and supply chain disruptions impacting Ireland’s financial stability. Consumers are increasingly concerned about job security, the value of their investments, and the overall economic outlook.
How to Manage This:
Building an Emergency Fund: Having at least three to six months’ worth of expenses saved can provide a financial cushion in uncertain times.
Income Diversification: Exploring additional income streams, such as freelance work or investments, can provide more financial stability.
Staying Informed: Keeping up with economic news and market trends can help consumers make more strategic financial decisions.
Final Thoughts
While 2025 presents financial challenges, Irish consumers can take control of their finances with careful planning and informed decision-making. By staying proactive, seeking expert advice, and leveraging available resources, households can better navigate the year’s uncertainties and build a more secure financial future.
For tailored financial advice, contact Financial Planner Ltd. today and take the first step toward a more resilient financial future.
Contact 01 627 9495
12th February 2025
Exciting New Partnership
Exciting New Partnership
We are thrilled to announce our new partnership with Raisin Bank, a leading provider of innovative banking solutions. This collaboration allows us to bring enhanced financial opportunities to our clients, ensuring secure, efficient, and high-yield savings options tailored to your needs.
Why This Partnership Matters
At Financial Planner Ltd, we are committed to helping you make the most of your money. Through our partnership with Raisin Bank, we can now offer:
Access to exclusive savings products with competitive interest rates.
Seamless banking solutions designed to optimize your financial planning.
Secure and efficient transactions backed by a trusted banking partner.
About Raisin Bank
Raisin Bank specialises in providing top-tier banking and financial solutions, enabling customers to maximise their savings effortlessly. With a reputation for security and reliability, they offer a streamlined experience that aligns perfectly with our mission to deliver the best financial strategies to our clients.
To set up an account with Raisin Bank please use the following link. https://www.raisin.ie/intermediaries/?regflow=brokerireland&salesid=BIE10002
Raisin is a popular choice for managing savings and investments because it provides access to a wide range of savings products from different banks, often with higher interest rates than traditional banks. Here’s why people use Raisin for their money:
Higher Interest Rates – Offers competitive rates by partnering with banks across Europe.
Diverse Banking Options – Access to multiple banks and savings accounts in one platform.
Regulated and Secure – Partner banks are covered by deposit protection schemes (up to €100,000 per bank in the EU).
Easy Account Management – A single account lets you manage multiple savings products without switching banks.
No Fees for Savers – Raisin is free for customers, as banks pay for the platform’s services.
Flexibility – Choose from fixed-term deposits, easy-access accounts, and other savings options.
What This Means for You
This partnership empowers you to access better financial products, make smarter investment decisions, and grow your wealth with confidence. Whether you're looking to enhance your savings or optimise your financial planning, our collaboration with Raisin Bank ensures you have the best tools at your disposal.
For Further Information Contact Us — financialplanner.ie or call 01 627 9495 to speak with one of our Advisors
5th February 2025
ECB Cuts Interest Rates Again – What This Means for Irish Mortgage Holders
ECB Cuts Interest Rates Again – What This Means for Irish Mortgage Holders
The European Central Bank (ECB) has once again reduced interest rates, announcing a 0.25 percentage point cut on January 30, 2025. This move is part of the ECB’s ongoing efforts to stimulate economic growth and curb inflation across the eurozone. But what does this mean for Irish mortgage holders? Let’s break it down.
1. Tracker Mortgage Holders – Instant Savings
Tracker mortgages are directly linked to the ECB’s base rate, meaning borrowers will see immediate reductions in their monthly repayments. For every €100,000 borrowed, an estimated €13 per month could be saved due to this latest rate cut. While the reduction may seem small, over the course of a year, it adds up and provides some relief for households managing tight budgets.
2. Variable Rate Mortgage Holders – Possible Relief Ahead
Unlike tracker mortgages, variable rate mortgages are set by banks, which consider multiple factors, including ECB rates, their own funding costs, and market conditions. While this latest cut does not guarantee an immediate drop in variable mortgage rates, banks may come under pressure to pass on savings to customers over time. Those on variable rates should monitor their lender’s response and be prepared to negotiate better terms if rates decrease further.
3. Fixed-Rate Mortgage Holders – No Immediate Change
For those with fixed-rate mortgages, this rate cut will not affect their current repayments. However, the reduction signals a shift in the lending environment, meaning future fixed-rate offers may become moreECB Cuts Interest Rates Again – What This Means for Irish Mortgage Holders
The European Central Bank (ECB) has once again reduced interest rates, announcing a 0.25 percentage point cut on January 30, 2025. This move is part of the ECB’s ongoing efforts to stimulate economic growth and curb inflation across the eurozone. But what does this mean for Irish mortgage holders? Let’s break it down.
1. Tracker Mortgage Holders – Instant Savings competitive. Homeowners nearing the end of a fixed term should watch the market closely to secure a better rate when their term expires.
4. First-Time Buyers – A More Affordable Market?
Lower ECB rates generally lead to lower borrowing costs, making mortgages more attractive to first-time buyers. As banks adjust their lending rates, new mortgage applicants may find better deals compared to the higher-rate environment of previous years. This is welcome news for those looking to get onto the property ladder.
5. Property Market Implications
With borrowing becoming more affordable, demand for housing may increase. However, supply constraints in the Irish housing market could limit the benefits. Rising property demand, coupled with a lack of available homes, may put upward pressure on house prices, which could offset some of the gains from lower mortgage rates.
What Should Mortgage Holders Do?
Tracker mortgage holders will see automatic savings, but keeping an eye on future ECB decisions remains important.
Variable rate holders should watch their bank’s response and consider switching lenders if better rates become available.
Fixed-rate holders nearing the end of their term should start shopping around for new deals.
First-time buyers may find this an opportune time to enter the market, but should assess affordability beyond just interest rates.
Final Thoughts
The ECB’s decision to cut interest rates is a positive step for many Irish mortgage holders, particularly those with tracker mortgages. However, the extent to which variable and fixed-rate borrowers will benefit depends on how banks react in the coming months. Keeping informed and proactive in reviewing mortgage options will be key for homeowners and buyers looking to make the most of these changes.
Contact our Pension Advisor for more information: 01 627 9495
Top 10 Mistakes People Make in Retirement
1. Underestimating the Impact of Inflation
Solution: Incorporate inflation-protected investments and consider savings products that grow in line with inflation, such as Irish government bonds or diversified equity investments. Regularly review and update your retirement budget to reflect changing costs.
2. Underestimating How Long You Will Live
Solution: Plan for longevity by ensuring a mix of savings and pension options that offer lifetime income, such as Approved Retirement Funds (ARFs) or annuities. Use tools to estimate life expectancy and factor in healthcare needs.
3. Overestimating Investment Income
Solution: Base your income expectations on conservative return assumptions, taking into account Irish tax regulations. Seek professional advice to ensure realistic projections for your retirement portfolio.
4. Investing Too Conservatively
Solution: Maintain a balanced portfolio that includes growth assets like equities. This helps combat inflation and supports long-term financial stability, especially under Ireland’s pension regulations.
5. Setting Unrealistic Return Expectations
Solution: Set achievable goals based on realistic return estimates and Irish market trends. Avoid high-risk investments that promise outsized returns and focus on diversified portfolios.
6. Forgetting Healthcare Costs
Solution: Include healthcare costs in your retirement plan, considering private health insurance options available in Ireland. Research the cost of long-term care and explore government support schemes.
7. Failing to Understand Income Sources
Solution: Map out all retirement income sources, such as the Irish State Pension, private pensions, and investments. Work with a financial planner to optimise withdrawals and manage tax liabilities.
8. Relying Too Heavily on Public Benefits
Solution: Treat the Irish State Pension as a supplement rather than your primary source of income. Build additional retirement savings through employer schemes, personal pensions, or ARFs.
9. Underestimating Real Estate Costs
Solution: Account for expenses like Local Property Tax, maintenance, and utilities. If needed, consider downsizing or moving to a more affordable area in Ireland to reduce living costs.
10. Investing Too Aggressively
Solution: Avoid excessive risk by diversifying investments and rebalancing as retirement approaches. Ensure your asset allocation matches your risk tolerance and financial goals under Irish pension guidelines.
Note: Consulting with a qualified financial advisor is highly recommended for a personalised retirement plan.
Contact our Pension Advisor for more information: 01 627 9495
Contact Us — financialplanner.ie
22nd January 2025
Interest Rates: The Waiting Game!
Interest Rates: The Waiting Game!
The ECB reduced interest rates four times last year and is expected to lower them further this year. This trend drives attractive fixed rates, making now an excellent time to lock in long-term rates (e.g., 5, 7, or 10 years).
Historically, many missed the opportunity to secure low fixed rates, leading to higher costs in subsequent years. However, a potential warning sign is the recent sharp rise in bond rates in the US and UK, which could signal higher rates ahead.
If you can secure a favorable fixed rate in the next 6–12 months, act now to safeguard against potential increases.
Contact FinancialPlanner.ie to speak with one of our mortgage advisors for a rate assessment—you may save by switching.
📞 Call: 01 6279495
📧 Email: info@financialplanner.ie
Why Financialplanner.ie
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Why Financialplanner.ie *
Why Choose FinancialPlanner.ie for Your Financial Needs?
At FinancialPlanner.ie, we believe that financial planning is not just about numbers; it’s about helping you achieve your life goals with confidence and peace of mind. Based in the heart of Celbridge, Co. Kildare, we’re proud to serve our local community and the surrounding areas, including County Kildare and County Dublin. Here’s why we are the right choice when it comes to making important financial decisions.
Who We Are
FinancialPlanner.ie is a locally based financial advisory firm dedicated to helping individuals, families, and businesses create and manage personalized financial plans. Our team combines years of experience with a deep understanding of local needs, providing tailored solutions to help you achieve your goals.
What We Do
We specialize in a wide range of financial services to meet your unique needs:
Retirement Planning
Plan for a secure and comfortable retirement with expert advice tailored to your stage of life.Mortgage Arrangements
Buying a home is one of the biggest financial decisions you’ll make. Let us help you find the best mortgage solutions for your needs.Life Assurance
Protect your family’s future with the right life assurance policy.Investments & Savings
Grow your wealth with smart investment strategies and savings plans.Redundancy Support
Facing redundancy? We provide expert guidance to help you make the best financial choices during this challenging time.Comprehensive Financial Planning
Whether you’re planning for the short term or long term, we’ll create a strategy to help you reach your financial goals.
Why Choose Us?
1. Local Expertise
Being based in Celbridge gives us a unique understanding of the needs of our clients in County Kildare and County Dublin. We know the local market and economic conditions, ensuring that our advice is relevant and practical for your situation.
2. Tailored Solutions
We understand that no two clients are the same. Whether you’re saving for your child’s education, buying your first home, or planning for retirement, we provide personalized solutions that align with your goals and values.
3. Trust and Transparency
We pride ourselves on building long-lasting relationships based on trust and transparency. You can count on us to offer honest advice and keep your best interests at heart.
4. Convenient and Accessible
Located in Celbridge, we are easily accessible for clients in the surrounding areas, including Maynooth, Leixlip, Lucan, and Dublin. As a local business, we’re here when you need us, offering both in-person and virtual consultations to suit your schedule.
5. Comprehensive Approach
From setting financial goals to implementing strategies and monitoring progress, we’re with you every step of the way. Our holistic approach ensures that all aspects of your financial life are aligned and optimized.
Why Now?
Taking control of your financial future is one of the most important decisions you’ll make. Whether you’re at the start of your career, planning for retirement, or somewhere in between, now is the perfect time to act. With FinancialPlanner.ie, you’ll gain the clarity and confidence you need to make informed financial choices.
Let’s Get Started
If you’re based in Celbridge, County Kildare, or County Dublin and are looking for a trusted financial advisor, we’re here to help. Contact us today to schedule a consultation and take the first step toward achieving your financial goals.
📍 Location: Celbridge, Co. Kildare
🌐 Website: FinancialPlanner.ie
📞 Contact Us: Your financial future starts here. 01 627 9495
FinancialPlanner.ie – Local Advice, Expert Solutions, Your Future.
10th January 2025
Avoid Poverty in Retirement
Avoiding poverty in retirement in Ireland requires proactive financial planning and leveraging available resources. Here are key strategies:
1. Start Saving Early
Open a pension plan: The earlier you start, the more time your savings have to grow through compounding.
Contribute regularly: Aim for at least 15% of your income, including employer contributions, if applicable.
Take advantage of tax relief: Pension contributions in Ireland qualify for significant tax benefits.
2. Maximise State Pension Benefits
Ensure you meet the PRSI contribution requirements to qualify for the full State Pension.
Regularly check your contribution record through MyWelfare.ie.
Plan your retirement age: Delaying retirement can increase benefits.
3. Participate in Workplace Pension Schemes
If your employer offers a scheme, contribute enough to maximise employer matching.
Understand the scheme's investment options and associated fees.
4. Diversify Income Streams
Consider additional savings in Personal Retirement Savings Accounts (PRSAs) or Approved Retirement Funds (ARFs).
Invest in assets such as property, stocks, or other income-generating ventures to supplement retirement income.
5. Control Debt
Aim to pay off major debts, such as mortgages, before retirement.
Avoid accumulating high-interest loans or credit card debt later in life.
6. Budget and Plan for Retirement Costs
Assess your likely retirement expenses, including housing, healthcare, and leisure.
Build an emergency fund for unexpected costs to avoid depleting your retirement savings.
7. Seek Professional Advice
Consult a financial advisor for personalised pension and retirement planning.
Explore available government supports and entitlements for retirees in Ireland.
By starting early, staying informed, and diversifying your approach, you can create a more secure and comfortable retirement, reducing the risk of poverty.
Pension Example
Here’s an example of a pension plan for a 30-year-old male earning €60,000 annually, planning to retire at age 65 in Ireland:
Assumptions:
Current age: 30
Retirement age: 65
Annual salary: €60,000
Target pension income: 50% of pre-retirement income (€30,000/year)
Investment growth: 5% annually
Inflation: 2% annually
State Pension: €15,043 per year (current full State Pension rate in Ireland)
Personal contribution: 15% of salary (including employer contribution)
Tax relief: 40% (assuming higher tax bracket)
Step 1: Calculate Target Pension Income
Target annual income: €30,000
Minus State Pension: €30,000 - €15,043 = €14,957 needed from private pension.
Step 2: Estimate Total Pension Fund Needed
To withdraw €14,957/year for 20 years in retirement (adjusted for inflation):
Total fund required = €14,957 × 20 = €299,140 (Note: Adjustments for growth in retirement may reduce this amount slightly.)
Step 3: Determine Contributions
Pension Fund Growth:
To reach €299,140 by age 65:
Monthly contributions = €262.22 month before tax relief.
After 40% tax relief: Actual out-of-pocket contribution = € 157.33 month.
Step 4: Include Employer Contributions (If Available)
If the employer contributes your personal contribution drops further.
Outcome:
If this plan is followed consistently, the individual can build a pension fund sufficient to provide €30,000/year (combining State and private pensions) for a comfortable retirement.
Notes:
Review contributions annually to account for salary increases or changes in circumstances.
Adjust investment strategy to lower risk as retirement approaches.
Smart Financial Planning 2025
Should I clear my Credit Card Debt?
Yes, clearing your credit card debt after Christmas is a smart financial move. Here's why:
Avoid Interest Charges: Credit card interest rates are typically high, so paying off the balance saves you from costly interest accumulation.
Financial Fresh Start: Starting the year debt-free helps you better manage finances and allocate money to savings or investments.
If full repayment isn't feasible, aim to pay more than the minimum to reduce interest and clear the balance faster. Budget carefully to prevent unnecessary spending while tackling the debt.
Use our Credit Card Calculator to see how much you will save in interest by clearing it. Protecting your income is crucial. — financialplanner.ie
Here’s an example of how to save and clear your credit card debt effectively:
Scenario:
Credit card debt: €1,500
Interest rate: 20% APR
Goal: Pay it off in 6 months
Assess Monthly Payment
To clear €1,500 in 6 months:
Divide debt by months: €1,500 ÷ 6 = €250/month
Add interest (rough estimate): €250 × 1.02 (2% monthly interest) = €255/month
ECB Rate Cuts: Big Savings for Irish Mortgage Seekers
On Thursday, the European Central Bank (ECB) announced a quarter-point cut in its key interest rates, marking the fourth reduction since June. This decision will directly impact Irish homeowners and those searching for the best mortgage deals.
What Does This Mean for Mortgage Holders?
Cheaper Mortgage Repayments If you have a variable-rate mortgage, you’ll likely see a drop in your monthly repayments. Lower interest rates mean reduced costs, giving Irish homeowners more breathing room in their budgets.
Chance to Fix Low Rates For anyone currently comparing fixed and variable mortgage rates, now could be the perfect time to secure a low fixed rate. Locking in could protect against future rate increases and provide stability for your finances.
Better Mortgage Options for First-Time Buyers First-time buyers searching for affordable mortgages in Ireland will benefit from reduced borrowing costs. This could make getting on the property ladder easier, especially as lenders adjust their rates.
What Should You Do Next?
Review Your Mortgage: Check if your current mortgage rate can be adjusted or refinanced to take advantage of lower interest costs.
Explore New Mortgage Deals: Use comparison tools to find the best rates offered by Irish banks and lenders.
Act Quickly: These rate cuts present an opportunity to save, but acting sooner rather than later can help you lock in the best deals.
Conclusion
The ECB’s decision to cut rates is great news for anyone in Ireland looking for a mortgage or planning to switch. Lower repayments and better borrowing options can help homeowners and first-time buyers save money and make smarter financial decisions.
Contact Us — financialplanner.ie
Use our Mortgage Calculator Mortgage Calculators - mortgage calculators, find out what you can borrow
Your Guide to Getting Your First Mortgage in Ireland:
Simplify the Journey with Financialplanner.ie
Buying your first home is an exciting milestone, but navigating the mortgage process can feel overwhelming. At Financialplanner.ie, we specialise in helping first-time buyers secure the right mortgage while making the process as smooth and stress-free as possible. Here’s what you need to know and how we can help.
What First-Time Buyers Look For in a Mortgage
As a first-time buyer, you likely have specific priorities when choosing a mortgage. These often include:
Competitive Interest Rates: A good rate can save you thousands over the life of your loan.
Low Deposit Options: Many first-time buyers take advantage of up to 90% Loan-to-Value (LTV) mortgages, requiring just a 10% deposit.
Cashback Offers: Some lenders provide cashback incentives that can help cover legal fees or other expenses.
Repayment Flexibility: The ability to overpay or adjust your repayments without penalties is highly desirable.
Simple Approval Process: Quick approvals and clear documentation requirements reduce the stress of buying.
At Financialplanner.ie, we understand these needs and work tirelessly to find the best mortgage solution for your unique situation.
How Financialplanner.ie Makes the Difference
We’re more than just a financial advisor—we’re your partner in the journey to homeownership. Here’s how we can help:
1. Expert Guidance
With years of experience, we’ll guide you through every step of the mortgage process, from initial application to final approval. We take the guesswork out of choosing between fixed and variable rates, understanding repayment terms, and navigating government schemes like the Help-to-Buy and First Home Scheme.
2. Personalized Solutions
No two buyers are the same. That’s why we tailor our recommendations to your specific financial situation and goals. Whether you’re working with a tight deposit or want to maximize your affordability, we’ve got you covered.
3. Access to the Best Deals
We compare mortgage offers across multiple lenders to find the best rates and perks for you. Our partnerships with leading banks mean you’ll have access to competitive options that might not be available elsewhere.
4. Hassle-Free Applications
Our streamlined process ensures that you’re not bogged down by paperwork. We’ll handle the legwork, so you can focus on finding your dream home.
5. Ongoing Support
Your relationship with us doesn’t end once you get the keys to your home. We offer ongoing financial advice, including budgeting tips and mortgage reviews, to ensure your long-term financial health.
First-Time Buyer Tips
To help you get started, here are some quick tips for securing your first mortgage:
Know Your Budget: Use our mortgage calculator to determine how much you can borrow comfortably.
Save for a Deposit: Aim for at least 10% of the property’s value and factor in additional costs like legal fees and stamp duty.
Check Your Eligibility: Ensure your credit score is strong and your income stable.
Explore Government Schemes: Take advantage of supports like the Help-to-Buy scheme for additional savings.
Get Pre-Approved: A pre-approval shows sellers you’re a serious buyer and speeds up the process.
Why Choose Financialplanner.ie?
At Financialplanner.ie, we pride ourselves on making the mortgage process easier for first-time buyers. Our friendly, professional team will answer your questions, address your concerns, and work tirelessly to ensure you secure the best mortgage for your needs.
Ready to start your journey to homeownership? Contact us today to schedule a consultation or explore our resources online. Let’s make your dream home a reality!
ECB Rate Cut
The European Central Bank (ECB) is expected to announce a 0.25% interest rate cut on December 12, 2024.
Potential Savings for Irish Mortgage Holders:
Tracker Mortgages: These rates directly follow ECB changes. A 0.25% reduction would decrease monthly repayments by approximately €12.50 per €100,000 borrowed over a 20-year term, resulting in annual savings of about €150 per €100,000.
Variable and Fixed-Rate Mortgages: Adjustments depend on individual lenders. While some may pass on the full rate cut, others might not, as previous ECB rate changes haven't always been fully reflected in these mortgage types.
Example Calculation:
Mortgage Amount: €250,000
Term: 20 years
Current Interest Rate: 4.00%
New Interest Rate after 0.25% Cut: 3.75%
Monthly Repayment Before Rate Cut:
€1,514
Monthly Repayment After Rate Cut:
€1,482
Monthly Savings:
€32
Annual Savings:
€384
These figures illustrate potential savings; actual amounts may vary based on individual mortgage terms and lender policies.
If you're seeking expert mortgage advice, we’re here to help you navigate the latest developments, including ECB rate changes. Whether you're looking to save on your current mortgage or exploring new options, our team can provide tailored guidance.
Contact Us — financialplanner.ie
01 627 9495
Let us help you make informed decisions about your mortgage and take advantage of potential savings!
Pension Auto Enrolment
Auto Enrolment in Ireland is a government initiative designed to ensure more people save for retirement by automatically enrolling employees into a pension scheme. Here's how it works:
Eligibility:
Employees aged 23 to 60 earning over €20,000 annually will be automatically enrolled.
It applies to those not already participating in an existing workplace pension scheme.
Contributions:
Employees, employers, and the government contribute to the pension.
Contributions start small and gradually increase over time.
The government provides matching contributions up to a certain level to encourage saving.
Opting Out:
Employees can opt out after six months, but contributions made during this time will remain in the fund.
Those who opt out are re-enrolled every few years.
Pension Fund Management:
Contributions go into a state-approved pension fund managed by licensed providers.
Employees can choose from a range of funds, including a default option.
Goal:
The program aims to address Ireland’s low pension participation rates and ensure workers have additional income during retirement.
Auto Enrolment is set to roll out by 2025, helping individuals build a secure financial future for Retirement.
For information on Ireland's auto-enrolment pension scheme, contact the Department of Social Protection:
Email: autoenrolment@welfare.ie
Website: Auto-Enrolment - Gov.ie
This initiative, starting on 30 September 2025, aims to enhance retirement savings for employees. For personalized advice, consult a financial advisor.
For further information on Starting a Pension Plan please contact us at 01 627 9495 or alternatively use our Pension Calculators Pension and Retirement Planning. — financialplanner.ie.