It’s time to consider downsizing

It’s time to consider downsizing

A 2016 ESRI report named Ireland the ‘empty-nest’ capital of Europe, highlighting the fact that Ireland has more people living in homes that are too large for their needs than any other country in Europe. As your kids fly the nest, you might be starting to recognise that feeling. Maybe it’s time to free up some cash for retirement.

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Whole-of-life insurance policy that lapses in your 60’s

Whole-of-life insurance policy that lapses in your 60’s

“We are where we are,” a client said to me with resignation recently. That phrase suggests that it just happened that way. There is nobody in particular to blame and that there’s nothing much we can do about it except get on with things. She was trying to explain how she ended up with an expensive, ever increasing whole-of-life insurance policy. Now she finds herself with the dilemma: should be cancel now or try to maintain the policy for ever more? Before you sign the dotted line, understand (all) your options.

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Consider adding terms and conditions to your will

Consider adding terms and conditions to your will

Passing wealth on to the next generation is a cornerstone of our society, yet it has the potential to go badly wrong. We need to radically change our attitudes to inheritance. In a nutshell, families need to talk more about money.
This article appears in today’s Sunday Times. Be sure to pick up a copy.

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How to ensure you are not over insured

How to ensure you are not over insured

For every Euro you spend on critical illness and life assurance, you are denying yourself an income of €4 in retirement. Insurances are necessary, but many clients I advise tend to be over-insured. Today we take a look at how this happens and what you can do about it.

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Living in sin? It’s not all it’s cracked up to be.

Living in sin? It’s not all it’s cracked up to be.

Greetings from Boston, Mass. This week I’m taking a look at the consequences for cohabiting couples. Unmarried couples living together have virtually no rights when it comes to succession rights. It may not affect you, but there are many of our friends and family that are blissfully unaware of the associated risks facing cohabiting couples. Feel free to share this article too.

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The estate planning road map

The estate planning road map

I have been surrounded by an abundance of pragmatism and realism lately, particularly when it’s families facing end of life issues. I am conscious that not everyone plans ahead, so today I want to give you a couple of pointers on opening up the conversation with loved ones on estate planning and end life matters. A conversation today is not about an immediate event, only a long term inevitability.

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No more excuses, it’s time for action on your personal finances

No more excuses, it’s time for action on your personal finances

As a business leader, you are in the habit of setting goals. You probably start every year with goals for your personal life as well as your professional one, but do those goals extend to your personal finances? This morning I’m going to suggest a couple of achievable personal finance resolutions that you should adopt immediately.

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Intergenerational tax bills are an actual thing. Do something about yours.

Intergenerational tax bills are an actual thing. Do something about yours.

Have your parents talked about leaving money to your children? Perhaps you’re a (young) grandparent yourself and are thinking about how you might help your grandchildren on their way. This week’s supplement suggests a way to make sure the grandchild benefits more than the taxman. If you have any questions, get in touch with me tomorrow.

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It’s not about up-sizing or down-sizing; it’s about right-sizing

It’s not about up-sizing or down-sizing; it’s about right-sizing

I’ve written recently about downsizing later in life with the emphasis on there being a financial necessity for it. But you may not be in that situation. You may have an opportunity to design your future living arrangements to be just what you need. My message: start planning now.

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LifeLoan on Liveline

LifeLoan on Liveline

How is it that every person who tells you about something they heard on Joe Duffy starts with “I don’t normally listen to Joe Duffy”?

I happened to hear part of the show recently and the listener’s story raised a couple of questions for me and, I think, will for you. The woman’s story was about how her parents had taken out a Bank of Ireland equity release loan in their later years, and the consequences it had for her.

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