Ronan’s Monthly Review
Brexit and the markets
This week has seen some major changes in the UK, with two of the prominent Brexiteers resigning from the cabinet positions. Their opinion and views regarding the UK’S exit from the EU in March 2019 does not seem to be in line with that of their leader Teressa May. How has the market reacted? It seems to have factored these adjustments in personal, with no real volitivity in share prices. In fact, some commentators believe with such hard line Brexiteers now no longer present in the cabinet to influence the final exit, a more softer approach may be pursued by Mrs. May. The markets and indeed UK industry would seem to prefer such a development. Watch this space.
Whilst we are being constantly told about our Pension funding Time bomb, some good news can be found in a Bank of Ireland/ ESRI survey published this week. The survey assessed how people feel about their finances post retirement. The study showed that one third feel that they can live comfortably in retirement and 57% have plans in place for retirement. This still leaves nearly half the population in the dark regarding their pension planning and the figures are worst for female workers. The statistics show that the earlier you plan and start your pension; the potential of a far better financial package is more likely on retirement. Most schemes are now set up on a ‘defined contribution’ bases, where your contribution is defined, and your benefit is based on the performance of your specific fund over the investment period to retirement. If you’re not in an occupational scheme you should assess the Personal Retirement savings account option or PRSA. Many people also have Retained Pension benefits from previous employment situations. Most have forgotten about them and don’t realise the options you have with this old fund. Indeed, if you place this old fund in a specific pension vehicle, you can take retirement options from age 50, and continue to work? Feel free to contact us for more details.
Do you realise how AFFORDABLE Life Insurance is?
We insure our cars, our holidays and sometimes even the family dog, but the very thing we may forget to insure is the most important of all – ourselves. What you may not know is how affordable Life Insurance can be. Life insurance can cost from €15 a month. The actual cost will depend on things like how much cover you need, your age and health and the type of plan you buy. Why not give us a call and see how much cover you could get and how little it could cost you. Over half of the population only have Mortgage protection cover which mean’s ‘he/she will get the house’ if an untimely death was to occur in a family or relationship. Not enough to cope with all the ongoing finances or indeed provide an individual with the option to take time out when bereaved.
Next time we’’ll have details of the benefits of Serious illness cover