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MASON WEALTH MANAGEMENT BLOG

admin, Apr 12, 2019

Have you heard the term wealth management and not sure what it exactly means? Well we’re here to shed some light.

Wealth management can be a broad term and dependant on what perspective you look at. For a client, the practise is centred around solving and increasing their financial situation. They entrust a financial advisor to work out a plan which will change their current situation into a better one.

For the financial advisor, it is about understanding a client’s financial situation and utilising the necessary financial services to determine a workable plan to improve their client’s finances.

Wealth management is a process of consultative review. Once a financial advisor fully understands where a person is at financially they can form a strategic plan that meets the needs of the client and puts them first.

Why Is Wealth Management So Important?

It says it all in the name, wealth management. Without properly managing your finances you will be cast into a world of trouble. Financial mismanagement does not reflect well on the financial appearance of a business or individual.

Incorrect management of your money leads…

Have you heard the term wealth management and not sure what it exactly means? Well we’re here to shed some light. Wealth management can be a broad term and...

admin, Mar 26, 2019

Even seasoned investors can find they end up with a disparate range of products that build up over the years. Lifestyle financial planning is an inclusive approach to securing the lifestyle you desire. It requires a different strategy to how we’d normally select products, as lifestyle financial planning is all about the bigger picture.

Why would you consider lifestyle financial planning?

Most clients only seek out the help of an independent financial planner when they’re faced with an immediate decision or problem. This can be for a variety of reasons. It can be a tax issue, pension worries, or being offered an investment opportunity they are unsure about.

Looking at someone’s financial position often highlights inadequacies in their current arrangements. The bottom line is the vast majority of people aren’t interested in the details of investments. They just need clarity on their current position, and to know what their financial future looks like if they continue on this path. They also discover what their financial future could look like if they use lifestyle financial planning to secure their future.

It’s not about…

Even seasoned investors can find they end up with a disparate range of products that build up over the years. Lifestyle financial planning is an inclusive approach to securing...

Financial Advisor Dublin

admin, Feb 22, 2019

Think about the term “financial advisor dublin” and what comes to your thoughts when you do?

Financial advisors offer advice on how best to manage your finances. They do this so you get the most out of your money and lifestyle.

Financial advisors can specialise in a range of different areas including reducing your debt, advising on managing investments and pension and retirement planning. However, these are only a few areas of expertise and the emphasis is on vast.

The buzzword linking all financial advisors together is “handling money”.

The Financial Advisor Dublin Process

When you approach a financial advisor in Dublin for the first time you will establish exactly what you’re looking for and hope to gain from their financial advice.

The financial advisor will then analyse how much money you make, your existing assets and liabilities.

Your goals will be discussed in order to understand where you want to get to and compared with your current financial situation drawing from the information you provide.

The financial advisor will offer recommendations based on expert advice and draft out a suitable plan of action for you to…

Think about the term “financial advisor dublin” and what comes to your thoughts when you do? Financial advisors offer advice on how best to manage your finances. They do...

admin, Feb 20, 2019

We’re now well into 2019 and we often find that the finances of our clients settle down a bit at this time of year. The madness of Christmas is behind us,and a lot of annual financial commitments have often come and gone at the start of the year. Spring is a good time to take a step back and consider how you can maximise the impact of your financial resources in achieving your desired lifestyle.

We’ve done some thinking on this and have set out 8 ways in which careful management of your finances can positively impact your lifestyle goals.

1. Don’t live on the financial edge

We have come across a number of situations with new clients over the last few years in which they have relatively significant investment portfolios, but without any real liquidity. Their money is tied up in properties and other long-term investments.

One of the impacts of this is the discomfort it causes, as the conversation includes statements such as, “We’re fine once there are no short-term shocks and we need money”.

Why put yourself though this? We suggest…

We’re now well into 2019 and we often find that the finances of our clients settle down a bit at this time of year. The madness of Christmas is...

admin, Feb 17, 2019

Income Protection is sometimes described as the glue in a financial portfolio. The most devastating impact on your financial situation is likely to be caused by a loss of your income, and the inability to replace it.

Unfortunately, people lose their jobs from time to time. However inevitably what tends to happen is that these people pick up new roles elsewhere or take a new path in their careers. As a result, their income may drop for a period of time, but will usually pick up again before too long. These people are in the fortunate position of being able to work.

Being unable to work because of illness or injury is a whole other matter. Little or no costs are moved from your life, in fact new costs may emerge such as medical expenses, care fees etc. On the income side, there are social protection benefits available, but in reality these deliver no more than basic subsistence payments. So there is often a lot less money coming in, with sometimes more going out…

Income protection protects your most important asset in…

Income Protection is sometimes described as the glue in a financial portfolio. The most devastating impact on your financial situation is likely to be caused by a loss of...

What does retirement mean?

Retirement really means being financially independent. It does not mean being able to stop working on a given day and then doing nothing. It is the date when you can stop working because you can afford to. You only work because you want to. Retirement is now a bit more flexible than it was in the past. It could mean reducing your hours to a 3 day week. Perhaps even remaining on in a part time capacity. This could work for you especially if your pension funds are insufficient for a complete exit.

Time to take Action

Up until now you have had lots to think about – building your career, educating your children, paying down debt. These were important, however, its probably fair to say not as important as building an income for the rest of your life. If you are within 10 years of retirement, its time to take action. If you don’t take advantage of the last 10 years of your working life, you will miss a valuable opportunity.

You need to know the following before you can make any decisions:

  • How much will you need…

What does retirement mean? Retirement really means being financially independent. It does not mean being able to stop working on a given day and then doing nothing. It is the date...

admin, Jan 08, 2019

Have a Financial Plan

Most successful investors have a plan.  They know exactly where they are going and how they are going to get there.   Without a financial plan you don’t really know where you are going.  We know that short term volatility will happen at some stage.  If you have a long-term plan that is reviewed annually, you will not be concerned when things get a little bumpy on the investment journey.  Any decent financial planner can incorporate a number of “what if” scenarios in the plan which will take account of market fluctuations.

Stay in the market long term

There is a famous saying that the stock market is a place where impatient people simply give their money to patient people.  People that enter the market looking for a quick return generally get badly burned.  In order to maximise returns, you must remain in the market through thick and thin.

Do not try and time the market

Timing the market is a futile exercise.  It simply does not work.  J&E Davy Stockbrokers recently published an article that makes interesting reading.  If an…

Have a Financial Plan Most successful investors have a plan.  They know exactly where they are going and how they are going to get there.   Without a financial plan...

admin, Dec 18, 2018

Spend less than you earn 

This may seem like an obvious statement.  Many people have no idea how much they are spending each month and then they wonder why they are getting further into debt.  Spend no more than you are earning.

A simple money management technique is to open 2 separate bank accounts. A spending account and a bills bank account.  Add up all your fixed costs that have to be paid each month (include utility costs, direct debits, bank loans, mortgage, life assurance, sky sports etc).  Lodge your salary into the “bills” bank account.  Total up all the above known monthly outgoings.  The remaining balance of your net income is what is left to spend each month.  That amount should be transferred to your “spending” account.  At any given time, you can see clearly what you have left to spend before the next payday.

Pay yourself first

In the New York Times bestseller, The Automatic Millionaire, the author David Bach explains that people should ‘pay themselves first’ every month. By this he means that everyone should set aside savings every month…

Spend less than you earn  This may seem like an obvious statement.  Many people have no idea how much they are spending each month and then they wonder why...

Alright so it’s Christmas, the season to be jolly and everyone is ecstatic. One thing which isn’t so jolly is the financial burden on your wallet with the various gifts you have to buy for loved ones.

The fact of the matter is Christmas can be a stressful time financially for the majority of people. Unless you have a comfortable amount of money set aside for presents the gift shopping will take its toll.

Make the holiday season less financially stressful with the following tips.

1 . Make A Budget

At Christmas time it’s easy to get carried away with Christmas shopping. You’ll want to treat your loved ones to the best of the best just to see those looks of excitement on their faces when they open their gifts on Christmas Day under the Christmas tree and frankly, because they deserve to be spoiled.

All things considered, you need to set a budget on the amount you can realistically spend on presents. There’s no point going overboard if this eats into the money required for food, rent, house bills, money you will need…

Alright so it’s Christmas, the season to be jolly and everyone is ecstatic. One thing which isn’t so jolly is the financial burden on your wallet with the various...

retirement planning

admin, Nov 30, 2018

At some point in time we all have to retire. We cannot work forever, a sad fact for all you workaholics out there. Many people don’t give much thought to retirement until much later in life but you should give it thought sooner rather than later.

Retirement planning should start early to enable smooth sailing when the time comes. You want to make your retirement as easy as possible but what does retirement planning consist of?

Retirement Planning As A Broad Term

Retirement planning is an extremely broad term. It can involve different aspects at different stages of your life. For young people it can centre around saving for retirement as time is on their side.

More than 15 years from retirement and you might want to start planning what you are actually going to do when retired. What are your hobbies and interests? Are you going to volunteer? You will begin to think about how you are going to spend all your free time. But also consider how much income you will need in retirement to support your desired lifestyle.

Fast forward to…

At some point in time we all have to retire. We cannot work forever, a sad fact for all you workaholics out there. Many people don’t give much thought...