CALL US TO TALK ABOUT YOUR FINANCES TODAY.

MASON WEALTH MANAGEMENT BLOG

admin, Jun 20, 2020

As economies around the world start to cautiously emerge from their various states of lockdown, people are also stepping back into the light albeit gingerly and carefully. Some shops and services are open for business again, others have a while to wait still. Some activities that involve mass gatherings such as sports events and concerts face a quite uncertain future for some time to come.

The last few months have been a time of great uncertainty for all of us. Apart from the threat to our health, most people’s work lives have undergone significant changes. For some, this has been a very difficult period with businesses closed and jobs gone for a while, or in some cases for good. Others have experienced reduced income as a result of the Covid-19 restrictions. Some lucky people have not really been hit in the pocket; they have just had to adjust to a different way of working.

We’ve all had quite a bit of time to think, both about the present and also what the future might hold as the pandemic runs its course.

Our…

As economies around the world start to cautiously emerge from their various states of lockdown, people are also stepping back into the light albeit gingerly and carefully. Some shops...

A recent phone conversation with a client triggered this article, as we were discussing the volatility in markets over the last few months. This was a relatively easy conversation, as this particular client has a very measured view to managing her pension fund and her investments. She doesn’t make rash decisions, she maintains a long-term perspective and doesn’t fret over every movement in the markets.

Our conversation then moved to on to the impact on all our lives of the Covid-19 restrictions – this is a topic coming up in every single conversation we’re having these days! As we chatted through the impact of the Covid-19 pandemic, we came to the conclusion that there are a lot of similarities between the worries caused by money and those caused by the pandemic. Let me explain…

 

It’s very easy to lose perspective

When the markets take a big hit as they did from the middle of February to mid-March, it’s very easy to lose perspective. After all, the S&P500 fell by over 30% in just over a month up to 23rd March. It was very…

A recent phone conversation with a client triggered this article, as we were discussing the volatility in markets over the last few months. This was a relatively easy conversation,...

You’d be forgiven for thinking financial planning is pointless during the economic downturn caused by the Covid-19 pandemic. We’re constantly hearing of companies closing their doors, redundancies being made, and other negative economic stories that are a result of the current crisis.

However, an unstable economy provides a greater reason to have a solid financial plan. There will undoubtedly be a recession off the back of this pandemic, but as with the 2008 global financial crisis, the world will keep turning and markets and national economies will claw their way back out of recession.

Communication is key

Whether you need to review your existing arrangements due to Covid-19, or you’re looking to create a new financial plan to ensure you’re less susceptible to any future fluctuations, being aware of what’s happening is crucial. Good communication is key to having up to date accurate information.

At Mason Wealth Management we’re happy to talk to existing customers and non-customers alike that may need some professional advice and guidance or financial help during Covid-19.

It can be easy to get caught up in hype in…

You’d be forgiven for thinking financial planning is pointless during the economic downturn caused by the Covid-19 pandemic. We’re constantly hearing of companies closing their doors, redundancies being made,...

admin, Apr 20, 2020

We’ve written before about the importance of a very planned approach to retirement. Having a healthy pension fund is what springs to mind for all of us in this regard – of course this is very important, as having access to financial resources will help you to ensure that you can enjoy your retirement and live it on your own terms.

But it’s not only about money. Money may be an enabler of the lifestyle that you choose. But you have to first of all do some thinking about what that lifestyle actually looks like! Who are the people that will be around you, where will you live, how will you fill your days, will you continue to work etc.? All of these are important questions that require careful consideration.

We recently came across The Irish Longitudinal Study on Ageing (TILDA), which is a large scale, nationally representative, long-term study on ageing in Ireland. It collects information from adults aged 50 years and over resident in Ireland and is one of the most comprehensive research studies of its kind both…

We’ve written before about the importance of a very planned approach to retirement. Having a healthy pension fund is what springs to mind for all of us in this...

We are living through unprecedented times, that will be remembered by us all for ever. Our focus is on staying healthy and flattening the Covid-19 curve. We are worried about our own health and that of our loved ones, particularly the elderly who are cocooned in their own homes. Some of you have seen your jobs disappear (hopefully temporarily) and others have seen their income reduced.

On top of all of this, stock markets have been extremely jittery and this is causing anxiety for investors and pension plan holders. Do you remember when all we had to worry about was Brexit?? However we can help you manage this investment anxiety. After all, while Covid19 is a unique event, volatile stock markets certainly are not. We’ve seen them before and we’ll see them again. The key is not to panic and make any rash decisions. So, what do you do?

 

Stick to the plan

Your financial plan was developed to guide you to achieving your goals. Your plan is there to guide you, both when markets are racing ahead and also when they…

We are living through unprecedented times, that will be remembered by us all for ever. Our focus is on staying healthy and flattening the Covid-19 curve. We are worried...

admin, Apr 16, 2020

The negativity around the word recession has everyone breaking out in a sweat, especially if you were planning on retiring during the recession. The current coronavirus pandemic is causing a dramatic economic slowdown all around the globe, but a recession has been on the horizon for a while. China and Europe have both seen economic slowdown in recent years, and rising oil prices and high levels of debt were also causing problems.

However, the average recession lasts less than two years. You’re planning on being retired a lot longer than this, so it’s important to take a longer-term view. While many people with investment portfolios will take a hit, it doesn’t have to be all doom and gloom. Just like with any economic situation, a little preparedness goes a long way. Below are some tips on how to retire during a recession.

Can I still retire?

During a recession it’s easy to get wrapped up in the negativity around everything. Will I lose my job? Will my company go bankrupt? How much money will I lose? Will my property be worth the…

The negativity around the word recession has everyone breaking out in a sweat, especially if you were planning on retiring during the recession. The current coronavirus pandemic is causing...

Financial Advisor can cover a broad range of specialities and disciplines. Some specialise in just pensions and retirement advice or investments. It can cover most aspects of financial advice. Some people will refer to themselves as financial planners, which is a term usually reserved for those that provide comprehensive plans to achieve your long-term goals, but both terms often incorporate aspects of each other.

Understand what you need

Selecting the best professional for you can be partly dependent on what you need. For example, a specialist in pension planning might not be the best choice if you’re looking for a plan for investment. Ask yourself what you want to get out of your relationship with a financial advisor? Is it long-term stability for your business, a plan for retirement, or simply some short-term advice to help you make the most of your funds? Some people just want to save enough each year for a family holiday, while others might want to pay their mortgage off as quickly as possible. Write down your own personal goals.

Choosing the best professional for you

Lots of…

Financial Advisor can cover a broad range of specialities and disciplines. Some specialise in just pensions and retirement advice or investments. It can cover most aspects of financial advice....

admin, Feb 28, 2020

Most of us dream of a carefree retirement free from the shackles of the rat race. However, our main source of income stopping can be a scary prospect, especially if our pension income is considerably less than we’re used to receiving each month. However, there are many things you can do to ensure your retirement is as close as possible to your ideal retirement.

Plan ahead

This article will help provide tips for cutting your costs once you’re retired but planning before you retire is too important not to mention. Having a comprehensive plan in place will remove much of the retirement anxiety. It’s often the not knowing that causes the most concern. Not knowing how much you’re going to receive each month. Not knowing if it’s enough to cover your expenses. Not knowing if you’re going to be able to afford the pursuits you’ve been putting off until retirement.

Spending time sitting down with a great independent financial planner can help you to structure your retirement in a way that maximises your income and minimises your expenses, allowing you to…

Most of us dream of a carefree retirement free from the shackles of the rat race. However, our main source of income stopping can be a scary prospect, especially...

Let’s be honest, who really saw Sinn Fein winning the numbers of seats that they won in the recent election? After all, they had never come close to winning such a large number before. And we also see surprising results all of the time in sport – who really thought that England wouldn’t win the Rugby World Cup last year after such a comprehensive win over the All Blacks in the semi final? And sure South Africa were no great shakes.. These events show that recent history doesn’t determine the future and that one small factor can change everything. We see it in politics and sport all of the time – the past is the past, and its not always a good guide to the future.

The same rules apply in business. It’s very dangerous to base decisions only on what happened recently, which is known as recency bias. It is the phenomenon where people recall and give more credence to very recent events, as opposed to events from the more distant past or indeed other tried and trusted bases…

Let’s be honest, who really saw Sinn Fein winning the numbers of seats that they won in the recent election? After all, they had never come close to winning...

In today’s era of consumerism on a grand scale, it can be hard to maintain a clear and constant perspective about the value of money. Many of us muddle along, surviving, making mistakes and getting by. However this is no example to give to the next generation who are likely to pick up on our behaviours and habits. Instead we need to carefully teach our children about how to act responsibly with money and to give them the best chance of building positive financial habits for life.

We’ve set out a few areas that you might like to talk to them about as they begin their lifelong relationship with money.

 

1. Establish a savings routine

This can start as soon as children start to receive pocket money. Encouraging them not to spend it all as they receive it and instead to save for a bigger treat to be bought every few weeks or months can set in place the benefits of delayed but ultimately greater rewards. We all know the benefits as we’ve got older of saving for holidays and cars…

In today’s era of consumerism on a grand scale, it can be hard to maintain a clear and constant perspective about the value of money. Many of us muddle...