With the 2018 Pension Contribution deadline approaching, here are a few Nuggets of Pension Info:
The deadline date for maximising 2018 Pension Contributions is 31 October 2019 (if filing your tax returns manually) or 12 November 2019 (if filing online through ROS)
These deadlines are for Personal contributions only. Tax Relief on Employer contribution is dependent on the Company Tax Year End and nothing to do with the personal tax return deadlines
Every 6 weeks, on a Thursday, the European Central Bank (ECB) Governing Council convenes and outlines their economic outlook and what changes, if any, there are to the ECB Monetary Policy going forward.
Nowadays, these ECB Meetings hardly hits the airwaves in Ireland, mainly because we have grown accustomed to the lack of movement in the base ECB refinance rate and the fact that most of the outlook statements and press conference questions are Europe-general as opposed to Ireland-specific. Stories around Trump and Brexit are far more exciting, controversial and colourful. Read More
The 2 years before an individual (or a couple) are approaching retirement from Employment / Self-Employment plus the 2 years after retirement age are the 4 most important years for any individual in terms of Personal Financial Planning.
The obvious big financial change at retirement will be the cessation of Earned Income or Salary as soon as you leave service. While this huge drop in income may be somewhat offset against mortgage repayments ending (assuming that your mortgage term ended around the time of retirement), there is nevertheless going to be a fundamental shift in your Cashflows, with a reliance switching from Earned Income to Passive Income in Retirement. Read More
Question: My husband & I are both 60-ish and about to close on a sale of a property he inherited which we hope to receive approximately €160 K after taxes, fees, etc. At present we have our mortgage & car loan paid with three children finished education & supporting themselves. Our credit card & a small home improvement loan totaling €7 K will be paid off first of course, and we are planning to retire a couple of years before both our contributory pensions kick in at age 67. We don’t have a clue where we should park the bulk of this for 3-5 years? Are there really any safe & profitable positions to take? Read More
The first 7 weeks of 2019 has seen a big recovery in global Equity Markets, after an extremely negative and volatile fourth quarter of 2018. Throughout the end of last year, we witnessed indiscriminate selling across the board on behalf of global fund managers, mainly due to risks around US-China trade relations and fears of a Global slowdown. Since the turn of the New Year, as these fears have subsided somewhat, we are seeing more positive sentiment in markets and therefore a large recovery in asset prices (albeit off sharp lows). Read More
Thank you to all our Guests for joining us at our 4th Breakfast Seminar since Compass Private Wealth was established over 4 years ago. Read More
Minister Paschal Donohue has delivered his Budget 2019 in the Dáil.
Here we outline the points that we feel are relevant for Personal Financial Planning Read More
Within the recovering Irish economy, which is set against a backdrop of increased asset prices (property and company valuations), higher incomes and lower interest rates on borrowings, it is a lot more common now for individuals and families to see their bank balances reporting a healthy cash surplus.
I will define surplus capital as having more than 6 months of your total outgoings sitting in cash deposits. Having this surplus capital can be as a result of one-off events such as an inheritance, a sale of an asset (shares in a company or property) or simply due to consistent earnings from business or employment. Read More
Irish Times Article on 24 April 2018: Jonathan Sheahan's interview with Fiona Reddan of the Irish Times was published on 24 April 2018. The article focused on ways for families to reduce Gift & Inheritance Taxes through Section 72 Whole of Life policies, Section 73 Savings policies and Family Partnerships. Read More
The European Central Bank (ECB) held its first Interest Rate decision and Press Conference of 2018 last week and investment & currency markets were left with a very bullish view on the Euro vis-à-vis other currencies, most notably the Dollar.
Mario Draghi ultimately gave direct & indirect guidance that convinced the Market that the ECB will continue to tighten monetary policy, which had the effect of strengthening the Euro. Draghi also specifically pointed out that the Currency movements are not the remit of the ECB, which gave the market more impetus for a strengthening Euro, especially when compared to the 'weak-dollar policy' of the Trump Administration. Read More
Following up from our Property-focused Breakfast Seminar in the Marker Hotel on 29 September 2017, we are seeing more and more people interested in allocating capital to Property within their Pension Funds.
In our experience, there is certainly a lack of understanding about how Property can be purchased within a Pension Fund, so the aim of this article is to outline the options available. Read More