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Wealth Management Ireland: Why It’s Never Too Early

A lot of people think planning for their future financial security is a task that can be put off until tomorrow. We’re here to tell you it’s not. Putting off searching ‘wealth management Ireland’ for retirement planning and presuming you have lots of time to make up the shortfall can be costly. No matter what your income or age, having a plan to work to can help. It quantifies the benefits you’ll receive and adds focus to your financial decisions.

Unfortunately when the work stops, the bills don’t. Most of us would like a retirement that allows us the freedom to pursue the things that make us happy. Whether your ideal retirement includes long days spent on the golf course, or a suitcase and your passport, the earlier you start planning the easier it will be to achieve your ideal retirement.

This doesn’t mean if you’re slightly older you’ve already missed the boat, but it does highlight the importance of starting as soon as you can. At any age, a few extra years can make a big difference.

Things To Consider When Searching ‘Wealth Management Ireland’

Unfortunately, we can’t help you choose how to spend your retirement. However, we are specialists at helping you to achieve certain universal financial truths.

  • Maximising your options by creating sufficient regular income.
  • Ensuring your capital is protected.
  • Planning ahead to keep your costs to a minimum.

For people who haven’t yet searched ‘wealth management Ireland’, let alone got a plan, it can be easy as retirement approaches to get into the mindset of hoarding as much of your money as possible. While savings are always a good idea, they should never be your only source of income after retirement.

Inflation will reduce the real worth of your savings over time. The interest rate paid by most banks isn’t enough to make your money grow in real terms.

This is why choosing investments with a higher return will make your money earn money for you. The earlier you can start this process the better. As the interest builds it will earn you even more money, and the process of smart retirement planning becomes compounded.

“Retirement is like a long vacation in Las Vegas. The goal is to enjoy it the fullest, but not so fully that you run out of money.”

Jonathan Clements

Be Realistic About Your Goals

Retirees should be optimistic about their retirement. The goal is to create a sustainable regular income that can maintain the lifestyle you want. A lot of people will estimate the amount they’ll need on a regular basis in retirement.

Sometimes people will estimate a high regular figure, which makes their goals seem unattainable and can be disheartening. More often than not people will underestimate the amount they’ll need, which can lead to financial difficulty further down the line. We can help you to establish a more accurate figure, so you build a realistic picture of your retirement, and get on with planning your time rather than your money.

I’ve Already Retired. Is It Too Late?

In simple terms, no. It’s never too late. Just because you’re retired doesn’t mean the horse has bolted. You still have a lot of life to live, and adding some structure to your existing pension funds, investments and other assets can bring clarity to your retirement.

We can use cash flow forecasting to ensure you get the most out of your unique set of circumstances. We’ll maximise your chances of being able to achieve all you want to in the coming years. Our experience helps us to work with you to create a personalised strategy that fits your needs.

By far the best reason to type ‘Wealth management Ireland’ into your search engine after retirement is peace of mind. Building a clear picture of where you stand, and where you go from here, will give you added clarity and focus.

Wealth Management Ireland: A Continual Process

Your lifestyle today may be completely irrelevant to what your lifestyle will be in 5 or 10 years. Personal circumstances change, children are born, promotions happen, families evolve. Even if nothing much changes on a personal level, the markets will have changed, as will your income and expenses.

We believe a level head and patience are crucial factors in any long-term plan. Approaching wealth management Ireland with a ‘bigger picture’ mentality will also help you to make smart financial decisions. On average only 19% of people receive a personal pension. The occupational pension average is higher, at 62%. With changes in the law over recent years we expect these figures to rise.

As life changes your pension plan should evolve alongside it. Whether it’s every 5 years or 10 years, revisiting your plan to ensure it is still in line with your goals is a good idea. Sometimes a well thought out plan will still meet all your requirements, but if your long-term plans have changed a tune up of your plan might be required to keep everything on track.

Why Choose Mason Wealth Management Ireland?

When you choose Mason Wealth Management you are dealing with more than just an experienced team of professionals. You are dealing with real people who have fostered an environment where your best interests are the key factor when making any decisions.

Our whole team is completely dedicated to our customer-centric approach. We want to add as much value as possible to your retirement planning experience. This has led to many of our longstanding clients becoming friends rather than clients, and helps us to commit to helping you achieve your long-term goals.

If you need any guidance on wealth management Ireland give us a call, we’re always happy to help. Even if you’re not sure if you need any advice, having a chat with us can help you avoid any potential pitfalls, and make it all run a little smoother for you. After all, the better we know you the better we can advise you.

Get some clarity about your retirement today by contacting us. We’re sure you’ll be glad you did.