Informed Decisions Financial Planning & Money Podcast

Gifting €2m to your family tax free. At first glance, this seems impossible and/or undesirable but with smart planning it is possible to avoid all tax burdens on such a gift, legally and legitimately. In Ireland, the tax landscape, especially concerning wealth transfer, can be a bit like navigating a maze. The culprit? Capital Acquisitions Tax (CAT), with a hefty 33% rate for gifts and inheritances. This is what we are now conditioned to, but it is frustrating when you see that in the USA for example there is no federal inheritance tax! And while there is a federal estate tax, it only applies to assets over $13m, and the bands start at 18% above that level! But here's the good news for Irish residents. There are legal loopholes, and we're about to spill the beans on the ones that can work wonders for many of us.

I recently came across a wonderful infographic showing 20 mistakes that investors make, and which they should try to avoid. It reminded me that sometimes we in the investing world talk down to retail investors, many of whom are way smarter than those actually in the investment world! It also reminded me of a parenting tip I got once. That was to always encourage a child to do something in a certain way, as opposed to telling them what not to do! So, instead of saying 'Don't bloody drop that glass', encourage them by asking them 'show me how well and how carefully you can carry that glass over to the table'! The positive impact and chances of success are apparently far higher by doing the latter. In an attempt to increase your chances of investment success, here are 20 things (yes, just 20!) that I encourage Irish investors to try and do with their long term investing.

When it comes to leaving a PAYE job or winding-up your own company, there are various types of payments you might receive, or give yourself!   But what about the tax implications of these payments? In Ireland, the tax treatment of payments on cessation of employment can seem like pie in the sky for many people – I'm here to clear the air for you!   I hope it helps.

In this week's podcast, we talk about how taxation of ARF and your Tax works in Ireland. We will put to bed the question of how much tax you pay when you reach retirement and draw State and Private pension incomes. We'll talk about how tax of ARFs works when you make withdrawals and for inheritance and how PRSI works when it comes to an ARF. Hope you find it helpful.

Today we have a very interesting and unique chat with Ravi Koka, CEO and found of StockSnips. Paddy talks with Ravi about how AI is affecting our world and also how it affects the investing and wealth management world. Hope you find it helpful and would love to hear your thoughts!    The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution by Gregory Zuckerman | Goodreads StockSnips

Only last week I talked about Money Market Funds in Ireland and how they should and should not be used by businesses to generate some returns on their liquid cash. But I want to explore whether Money Market Funds in Ireland are a real and valuable investment vehicle that everyone should consider, or if they are purely a sales tool used by financial advice firms to get money in the door!?  I hope it helps!

In this week's podcast, we embark on an oceanic exploration of a topic of paramount significance to every discerning business owner, whether or not to use Money Market Funds for Company cash! Indeed, this topic can and will apply to business owners and non-business owners alike, it's just that business owners are usually more concerned about having large amount of money sitting in cash!   I hope it helps!

In this week's podcast, we talk to Glenn Gaughran, Head of Business Development & Marketing at Independent Trustee Company (ITC), about PRSAs and Pension Property.   With big changes in 2023 to PRSAs, Glenn tells us some great nuggets about what opportunities are available to those who have or wish to set up a PRSA. Key points: What are Trustees PRSA 2023 changes Who can benefit from PRSA changes Master Trusts Property in pensions I hope it helps!  

I was fortunate to attend FutureProof last week, the world's biggest Wealth Management and Financial Advice conference, attended by c3,000 Financial Advisors. It was held in L.A, California and so was attended mostly by US and Canadian advisors and institutions. And given US/Canada are probably 15 years ahead of us in progressive advice in clients' interests, it is a great place to get ideas and inspiration as to how best serve clients here in Ireland. This week, you benefit from some of that inspiration; where I share the top 5 trends that I observed from being immersed in FutureProof for 3 days

In the ever-evolving ocean of investments, where trends and fads can shift like the currents of the oceans beneath us, it's essential to keep a steady hand on the wheel. Amid the chorus of voices clamoring for the latest high-flying assets, one must pause and reconsider the tried-and-true: bonds. As financial advisors, it's our duty to ensure our clients make informed decisions. That's why we'll discuss why abandoning bonds might not be the wisest move, especially in today's dynamic market  

This week I share some lessons we can learn from Johnny Sexton's reported pension planning in recent weeks! I've not even met the man (yet!) but he is a sporting legend, and I admire everything that he's done (even balling the referees for some of their Cup Final decisions!). And he has set yet another fine leadership example in terms of his pension planning. Let's learn from the boss!   I hope you enjoy it!

In this week's podcast, Paddy has a fantastic chat with Brad Barret the MD of a $5Bn planning firm. Brad is a Managing Director with One Capital Management. He advises private individuals and families on their personal investment and advanced planning needs. In addition, he oversees the firm's Retirement and Corporate Services practice. His firm manages nearly $5 Billion dollars for thousands of families across the United States and abroad.  Brad is the author of, Retire Right: Secure the Right Path to Your Retirement - here is the link to his book on Amazon, and here is a link to his website.  He is also the host of two podcasts, Make Your Money Matter and Pension Attention. Make Your Money Matter with Brad Barrett Key topics include: Favourite part of being a financial advisor Stork theory Personalising the approach for each client Making your money matter Approaching giving I hope you find it helpful!   The Psychology of Money: Timeless lessons on wealth, greed, and happiness

Today I share some thoughts on holding cash, some saucy Central Bank of Ireland research on Irish households, and a warning about going all-in! Irish Household Wealth Aside from their regulatory role over financial services, Central Bank of Ireland share some really interesting research and reports. One such recent report was their 'Quarterly Financial Accounts' for Ireland. For me, one of the greatest signals of our financial health as a nation is our 'Household Debt'. This rate hit a high in 2007 when it stood at €203BN. Working on the basis that there are c3.6m adults in Ireland this was around €60k debt for every man and woman over 18 years of age in the country! That €203BN debt figure has fallen steadily since 2007, to €131BN in 2020, (€36k per adult) and now sits at c€120BN (€33k per adult). Read on! Paddy.

Independent investment advice in Ireland is a rare thing, at least under current Central Bank of Ireland regulations. Currently, only an investment advice firm in Ireland that does not receive any form of commission can call themselves 'Independent'. So does that mean getting independent investment advice in Ireland is deeply flawed, not at all! This week I'll help you learn about; Key considerations before you invest Knowing the source of your advice If any investment advice is truly impartial? I hope it helps!

If securing a high-quality retirement income is high on your agenda, nailing the answers to the following questions ought to be high on your list of priorities. Whether you are just starting your career or approaching retirement age, 'today' is the next-best time to explore these, if you haven't already done so. With the intention of helping you make informed decisions, here are 9 important retirement planning questions to consider and answer. I hope it helps!

This week we bring back episode one in the popular 'A Listerner's Journey' podcast series with William Lacey.   Throughout this series, William talks about his journey of escaping full-time employment. This is an insightful and helpful series that discusses many of the concerns, thoughts, priorities, and actions that many of us face as we transition to retirement.   If you enjoy episode one, you can listen to the rest of the series as follows:   Part 2     Part 3     Part 4     Part 5     Enjoy!  

While Paddy is off enjoying his annual leave we bring you a classic and popular podcast from 2021.  Lars is a former hedge fund manager, author, and entrepreneur from Denmark.  Can we beat the market? If we can’t what should we do? Lars and Paddy talk about investments, hedge funds, beating markets, and much more that we hope you will find helpful.

Inheriting a house can be a significant financial event. It carries its own set of implications and considerations.  From taxes to inheritance thresholds, the financial aspects of inherited property can are worth considering if it is on your horizon, or that of your beneficiaries! In this week's podcast, I will explore: The intricacies of inheriting a house in Ireland The implications of taxes and how they affect inheritance tax thresholds Why many people choose to sell an inherited home The benefits and drawbacks of such a decision

Like any individual in any profession, every Financial Advisor will have different strengths and weaknesses. They each have different skill sets. None of them are perfect, and I include myself in that! In this short piece, I will delve into the importance of what financial advisors can do with and for their clients, even though many clients receiving said advice might not immediately recognise what they are actually helping them do, achieve and avoid! Key Points Avoiding fear-mongering Personalising the approach Keep investors on course, in 'good' and 'bad' times Taking time to provide the correct answer for you

This week we have something a little different. We recently hosted a webinar with Pension and Revenue expert Clive Slattery. If you missed the webinar, here is the audio, which I hope you find helpful. Clive will talk about recent PRSA changes. - The implications for PAYE & Business Owners - How & Why these changes have come about - The significant tax opportunity that exists   PRSAs are relevant to most people as it is a pension that anyone can start. Thanks   Sunday Times Article