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MASON WEALTH MANAGEMENT BLOG

admin, Jan 24, 2020

How we are going to live when we retire doesn’t become a major concern for many people until later in life. However, our quality of life and the money we have available to us once we stop working can be far greater if we start planning sooner. Every extra year you’re paying into a pension counts, so the sooner you start the better.

A private pension is essentially a savings plan with important tax benefits. However, your contributions earn you money for the life of the pension and must stay in the pension fund until you reach a predetermined retirement age. The money you receive from a private pension can help to supplement your state pension and be the difference between a frugal existence or the retirement you hoped for.

Do you know what you want your retirement to look like?

Most people continue through their life without giving too much thought to retirement. We may have some cliched responses about what we’d like to do when we retire, such as travel more or spend more time with our family, but…

How we are going to live when we retire doesn’t become a major concern for many people until later in life. However, our quality of life and the money...

admin, Dec 25, 2019

The stock market has been rising continuously for the last 10 years.  This is the longest bull run in history.  There is lots of talk about an impending correction (drop in value).  Should you be worried and if so, what can you do about it?

 

At the outset we should remind everyone that investing is a long term game.  We should never be too interested in short term investment performance or minor fluctuations in value.

 

So what is the best way to protect your self in the event of a prolonged market decline?  It is to sit down with a Certified Financial Planner and give him the following information:  Income, Assets, Liabilities, Expenses, Pensions, Investments, Property, Cash Savings, Debt etc.   He will then put together a plan that will answer many questions including the following:

  • What rate of investment return do I need to achieve, so I can lead the life I wish to lead?
  • Am I taking the correct amount of risk on my investments?
  • Will my desired lifestyle be destroyed in the event of a prolonged market decline?
  • How…

The stock market has been rising continuously for the last 10 years.  This is the longest bull run in history.  There is lots of talk about an impending correction...

admin, Dec 18, 2019

As the years pass by, the need to ensure we are well prepared for later in life looms increasingly larger. Whether you’re investing, paying into a pension, or just saving money, starting young makes everything easier. However, when we’re young is the time we are least likely to worry about our future financial health. Thankfully, there are plenty of options for people of all ages to maximise their finances.

There is a common misconception that you only need a financial advisor when you’re wealthy, need insurance or a mortgage. The truth is that a financial advisor can help you at any stage of your life. You do not need to be investing tens of thousands of euros to build a plan for your future. They can create a clear map you can follow to ensure the lifestyle you want becomes a reality.

Do you know how much value a financial advisor could add to your future in 2020?

A good financial advisor is primarily concerned with helping you to grow your wealth and ensure your finances are secure. A good financial…

As the years pass by, the need to ensure we are well prepared for later in life looms increasingly larger. Whether you’re investing, paying into a pension, or just...

admin, Dec 15, 2019

How has this happened? Surely we can’t already be facing into a new decade! Many of us remember fondly the big party we were at on New Year’s Eve as we entered the new century – and all the worries about the Y2K bug that was going to bring the end to many IT systems across the globe. We’re coming up to the 20th anniversary of that now…

Time just relentlessly marches on. It never changes pace and before we know it, another year or another decade has slipped by. As we entered the current decade, the world was struggling to emerge from the deepest economic crash in a generation. Many people in Ireland had lost their jobs, had lost a lot of money in investments – particularly in property ventures and bank shares and were really struggling under enormous piles of debt. Many were simply hanging on at that stage.

The last decade has been a period of re-birth for many, but certainly not all people in Ireland. Personal debt issues have reduced, but this is still an enormous issue unfortunately…

How has this happened? Surely we can’t already be facing into a new decade! Many of us remember fondly the big party we were at on New Year’s Eve...

investment advice

admin, Dec 05, 2019

As part of our work with clients, one really important element of an overall financial plan is retirement planning. Of course, it happens quite often that clients are some way along this journey before we come into contact with them.

What we see sometimes leaves a lot to be desired… Some people think they are well on the road to a comfortable retirement. However when we investigate, we don’t see a plan, we simply see a lot of policies. These clients often don’t know what they have – they know they have “bits and pieces” of pensions and are assuming that they all add up to a satisfactory picture. Quite often, this is not in fact the case.

Sometimes of course, having lots of different policies makes perfect sense. That is, when it is part of a planned retirement strategy where it is beneficial to have multiple policies. A client may have multiple sources of income for example, each requiring a different approach. Or a client may have a specific drawdown strategy that is easily facilitated by more than one policy….

As part of our work with clients, one really important element of an overall financial plan is retirement planning. Of course, it happens quite often that clients are some...

admin, Nov 12, 2019

Not many people would dispute that securing your financial future is a good idea. Whether you have a pension plan, investments, property, or just a savings account, having some sort of plan removes a big chunk of stress, and can even be designed to help you through tougher times in the short to medium-term.

Many of us have an image of how we want our life to be yet do very little to make sure it becomes reality. This can be because of a preconceived notion that you must be wealthy before considering private wealth management. However, it’s often the reverse that’s true. If you want to end up financially comfortable in the future, you should start planning now.

What is private wealth management?

Private wealth management is a general term that refers to your bigger financial picture. It incorporates all aspects of pensions, investments, portfolio management etc. It’s a service designed for the sole purpose of enhancing your finances. Rather than only planning for retirement, it often incorporates short, medium and long-term goals.

The bigger picture approach allows us to utilise a…

Not many people would dispute that securing your financial future is a good idea. Whether you have a pension plan, investments, property, or just a savings account, having some...

Wealth Management Dublin, Mason Financial Services

admin, Oct 25, 2019

During the summer Catherine and Hazel decided to leave us.  I would like to take this opportunity to thank both of them for helping us and our clients over the last 3 years.  We wish them well in their careers.

 

The working environment is changing and the days of 40 years service are over.  Employees are now more transient than ever and we view it as our role to develop them as much as possible along the way.

 

We have taken our time to ensure that we have selected good quality replacements to help deliver the service we need for our clients.

 

I am delighted to introduce John O’Sullivan and Eamonn Morris to you.

 

John has come from Acumen & Trust and has a wealth of experience while Eamonn has come from State Street and is looking forward to learning more about our business.

 

We are confident that John and Eamonn will be good additions.  They are being brought up to speed at present and familiarising themselves with how we work, our culture and what is most important to our business – YOU.

 

I would…

During the summer Catherine and Hazel decided to leave us.  I would like to take this opportunity to thank both of them for helping us and our clients over...

admin, Oct 24, 2019

The thought of retirement is daunting for many people. This is compounded by all the negative press about the retirement age being pushed back, or how pensioners can struggle to pay their way. Some people avoid thinking about retirement because they have no idea what they are going to do once they’ve retired, while others have lots of ideas but no plan in place to make them reality. Humans are living longer than ever, and more people are seeing their retirement as a second lease of life where they can enjoy many of the hobbies or interests they’ve been too busy for.

Too of the most common wishes we come across when helping people is having enough to help close family members and a desire to travel. The good news is, with some forethought and careful planning, you can enjoy the exact retirement you want. Retirement planning might have the image of being something just for the very wealthy people out there, but in the current climate it really is something that should be considered by everyone.

The earlier the better

When…

The thought of retirement is daunting for many people. This is compounded by all the negative press about the retirement age being pushed back, or how pensioners can struggle...

admin, Oct 15, 2019

Paying tax bills can be a challenging time for both business owners and sole traders alike. Of course if your business is very successful, tax is simply an expense that needs to be met when your tax payment deadline rolls around. However, there are also many small enterprises that don’t enjoy the comfort of high levels of excess cashflow. For these businesses, the tax payment deadline can be a stressful time, gathering all expenses together and working with your accountant to identify ways in which you can legitimately reduce your tax liability.

Pension contributions are rightly viewed as one of the most effective ways of reducing your tax liability. The challenge is often having the spare cashflow to make that pension contribution while also being able to meet your tax payment! And as a result, the pension contribution often gets reduced or indeed removed in order to meet the tax liability. The unintended consequence of this is that your retirement plans and future lifestyle are now at risk.

So what’s the alternative?

The approach that many sole traders and business owners take…

Paying tax bills can be a challenging time for both business owners and sole traders alike. Of course if your business is very successful, tax is simply an expense...

admin, Oct 15, 2019

We came across a quote recently that has really got us thinking, as it hit home on one of the most important aspects of financial planning. The quote is, “Money always moves when life is in transition”.

The reason the quote had such an impact is because it makes financial planning real. When some people think about financial planning, they think only of life assurance, income protection, pensions and investments. This is a mistake, as these are simply products that are sometimes used to enable a financial plan to be implemented. Financial planning itself is about helping you to identify what you want to do with your life, and then devising a plan to help you financially achieve that life. Yes, we might suggest that some products as mentioned above are used – but these are simply vehicles to help you achieve your goals.

And when we talk about your financial goals, we’re not talking about some random figures such as, “My goal is to have €800,000 in my pension plan when I retire”. Because that means nothing… It’s far more important…

We came across a quote recently that has really got us thinking, as it hit home on one of the most important aspects of financial planning. The quote is,...