Start a Pension today!
Private pensions bridge the gap between state pensions and financial needs, protect against inflation, and provide peace of mind. They also enable legacy planning, ensuring financial support for loved ones.
Getting a quote is the first step in your journey! Answer a few questions and wait for one of our Advisors to contact you!
How do I start a Pension?
Navigating pensions can seem complex, yet they offer a tax-friendly avenue for long-term investment. Through our discovery consultation, we provide quotes and facilitate one-on-one discussions with your dedicated financial advisor. Your advisor delves into your unique circumstances and goals, laying the groundwork for your retirement strategy. Crafting a tailored retirement plan involves gathering data on your current financial situation, risk tolerance, preferred investment options, and retirement timeline. Our team presents pension options tailored to your needs, explaining the pros and cons of each to ensure clarity. Assessing your risk tolerance is crucial; we collaborate with you to gauge comfort levels and develop investments that align with your goals. Based on this assessment, we recommend strategies to optimize your retirement savings, catering to conservative, aggressive, or balanced approaches. Once satisfied, we guide you through paperwork, ensuring comprehension of every aspect of your pension arrangement.
When is the best time to start a Pension?
The best time to start a pension is right now. Delaying this crucial financial decision can significantly impact your retirement savings. Starting as early as possible allows your investments to grow over time, potentially providing you with a more substantial pension fund when you retire. The power of compounding interest and time is on your side, making today the best moment to begin securing your financial future in preparation for retirement.
Start your journey today. Take the first step to achieve all your financial goals.
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Have a Strategy for each stage of your life.
Navigating the world of pensions can be a daunting task, as the landscape varies depending on the stage you find yourself in on your pension journey. Whether you are just beginning to contribute to a pension fund, nearing retirement, or somewhere in between, each stage brings its own set of challenges and opportunities. It’s crucial to approach the process with diligence and seek guidance from our financial advisors, ensuring that your pension strategy aligns with your unique financial situation and goals.
Starting in your 20’s
Starting your pension in your 20s is crucial for a secure and satisfying retirement. Beginning early lets you establish clear goals and learn about pension basics. Understanding these fundamentals and exploring investment options empowers you to make informed decisions, ensuring long-term growth and a comfortable retirement.
Starting in your 30’s
Starting your pension in your 30s is a smart step toward securing your financial future. It’s crucial to create a detailed financial plan and realistic budget for effective pension management. Taking advantage of employer contributions is key during this time, while also making the most of time and tax benefits to boost your pension fund’s growth potential. This sets a strong foundation for a comfortable retirement later on.
Pension in your 40’s
The Pension journey in your 40s means assessing your finances and reviewing retirement goals strategically. It’s essential to optimize asset allocation for a diversified investment strategy. Increasing contributions annually can maximize growth potential and strengthen your pension portfolio. These actions in your 40s pave the way for a more secure and prosperous retirement
Pension in your 50’s
While in your 50s is important to focus on securing your financial future. It’s crucial to maximize pension contributions for a strong retirement fund. Review and optimize your investment portfolio for balance and growth. Additionally, locate any old pensions to manage your assets better. Reassess your mortgage strategy to align with retirement goals. Addressing these aspects in your 50s enhances the strength and stability of your pension for a more comfortable retirement.
Your Questions Answered
As soon as possible. The money that you pay into your pension grows over time. It’s quite simply Time x Money. The sooner you start paying in; the more money will be available to you upon retirement.
The amount you will receive per month entirely depends on how much you’re willing to pay per month, the length of time you’ve been making contributions, the type of pension plan and its investment return. You can also choose to receive a lump sum upon retirement or not.
As of today, the State Contributory Pension is about €240 per week. For most people, during their 20-30 years of retirement, this simply isn’t enough. When you pay into a pension plan, you will receive both the state pension (If available to you) and your Pension Plan.
Tax relief reduces the actual cost of your pension. You do not have to pay tax on money that you put into a personal pension (This falls within the limits set out below). This is calculated at the highest rate of tax you pay (Currently 20% / 40%)
Example:
Monthly contribution = €100
Tax Relief (40%) = €40
Cost to you = €60
If you have to retire because of medical reasons and you get Revenue approval, you can receive your benefits from your Pension immediately.
If you unfortunately pass away before you retire, your Pension will be paid to your estate.
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