Informed Decisions Financial Planning & Money Podcast

Dr. Thomas Gilovic has conducted several studies, some spanning decades, which measured the level of satisfaction and joy that people get from experiences versus material purchases. Here is a link to one particular study he was involved in, the insight of which is really quite fascinating. There appears to be three core reasons that experiential purchases give us more long term satisfaction. Hopefully you get some value from this week's episode. Enjoy! Paddy Delaney.

What happens my pension when I, you know!? I'm never one to shirk the hard questions, but it seems crass to talk of 'you know' while all of 'this' is going on! If you are any of the following, you really ought to know about this: A director of your own company with pension benefits An employee and an active member of the 'Company Pension Scheme' A former employee of a company, with benefits still in your old employer's 'Company Pension scheme' "Life is like playing the violin in public and learning the instrument as one goes on", or so said the 19th Century English author Samuel Butler. I'm including that quote for no other reason than I really like it. A friend of ours recently had a baby, and she is bouncing hundreds of questions off Fiona (who is an 'old hand' at this stage!). It just goes to show that we are all learning. None of us know everything - a valuable lesson in humility in times like these! I hope this helps, even a little! Paddy Delaney Informed Decisions

In this weeks' Podcast you will hear from someone with some unique insights on the topics we discuss week in and week out. Dr. Moira Somers from Canada is someone I have admired and benefited from learning from in recent years.  In our conversation, Moira shares some ideas around: - Why money decisions can be very difficult for many of us - What we can do to make it a little easier - When to seek financial guidance, and how to find one that will help you most - Moira's top tips to reach your financial priorities We hope you find it of real interest, and of value to you. Thanks, Paddy Delaney Dr. Moira Somers Website: https://moneymindandmeaning.com/about-moira/ Advice That Sticks Book: https://www.goodreads.com/book/show/38821455-advice-that-sticks

Wondering what the best investments 2020 are?! Or if your investments or pensions are down the pan!? It is indeed one of those 'once every 5 year' situations for investments at the moment (more on that later), but we hope to share some insight that will help you see the wood from the trees. If you are a regular or occasional visitor or listener of this site you likely have a fair idea of our response to the question of which are the best investments 2020. Short answer remains; investments which are low in cost, high in diversified equities and high in a decent track record versus it's peers. But, has the sheen of that 'Holy Trinity' been tarnished based on how 'things' have gone so far this year!? Let's see.....

This week, as promised in our recent Pros & Cons of Pension Property, we share with you further details of owning a Property within a Pension.  We were delighted to have Tommy Neilsen, qualified Solicitor and 'Head of Legal' with Independent Trustee Company (ITC) Dublin. Tommy has been with ITC since 2005, and deals with all legal aspects relating to the Pension Trustee services they provide. In this episode you will hear: - Legal considerations around Pension Property - How the structure actually works - How safe it is or isn't - Further Pros & Cons - Lessons Learned As chairman of the Law Society’s Sub-Committee on Pensions and chairman of the Association of Pension Trustees in Ireland, Tommy brings a level of knowledge and understanding of Pension Property that hopefully helps you in learning about it. Thanks for listening, Paddy Delaney 

How would you feel if you discovered you were paying double the level of fees on your pension or investment that you were led to believe? ‘Clarity On Fees’ is the #1 thing consumers say would improve the level of trust they have in Financial Advice. 76% of people do not know how or what their Financial Advisor is paid. Most pension holders have no idea they are likely paying over 2% fees every year. These are just a sample of the startling results from consumer research we recently conducted. As someone who is hell-bent on finding a win-win for both Consumers and the future of Financial Advice, these results are pretty terrifying, for everyone involved! There is an urgent need for the Financial Advice profession to pull it’s socks up, and to start playing fair with you the consumer. Either it does, or it’ll be sat on the Sub’s Bench for eternity.

Paddy chats with Ireland's former Pensions Ombudsman, Paul Kenny. Paul remains an active member of the pension profession in Ireland. Among other roles he is remains a Programme Leader in the Retirement Planning Council. In this episode he shares his insights about the following relevant topics: - Keeping track of your pensions when you move employments - Ensuring your ARF gets treated as per your wishes - Impact of ARF values on your eligibility to allowances We hope it is of value, and please do spread the word with anyone you believe needs to hear what he has to say! Paddy Delaney Informed Decisions    

Should I buy property with a pension? Ever wonder what the pros and cons are if you did decide to establish a pension property? Is having a pension property a good idea? Hopefully this will help. In the short piece we will share: Financial benefits of buying a property with your pension The pit-falls of having a property in your pension Some other insights that you should know Paddy.

  1st April 2020 will bring with it the dawn, or the dusk of 'Independent Financial Advice' in Ireland. I really have no clue which way it will go! At least initially, finding an actual living, breathing and practicing 'Independent Financial Advisor' in Ireland may be like the proverbial hen's tooth. (Wouldn't that be a novel name for a Financial Advice firm - 'Hen's Tooth Independent Financial Advisors'!). I hope it helps in some small way. Paddy Delaney Informed Decisions

'Are Equities For The Scrap Heap'? I feel compelled to nail our colours to the mast at the outset. I am always open, and deliberately expose myself to contrary thinking, the fact remains that Equity investing has delivered the greatest outcomes for patient and long term investors. That fact will have come into question in people's minds in recent weeks, so I'm going to share with you in this short piece exactly where Equities are right now - and encourage you to decide for yourself. Paddy Delaney

What to do with my investments and Pensions in a declining Market? Absolutely Nothing. That is all. Listen-on for a 'slight' elaboration! I hope you are keeping well - that must remain a priority. Paddy Delaney

This week, following a recent conversation (there I go with 'conversations' again!), we share a detailed analysis of the Davy GPS Funds. You may be thinking of investing, or are already invested, via pensions or investments. Either way, we share insights on what are they, what's in them, how they compare to their competitors, and how they have served investors that have entrusted their funds in them. I hope it helps.   Paddy Delaney  Warning....The value of your investments will rise and fall. You could get back less than you invest in any investment. But you knew all that! All info correct at time of analysis early March 2020.

Welcome back to Ireland's award-winning Financial Planning Blog & Podcast. This week we were excited to chat with return-guest, Derek Bell of the Retirement Planning Council (RPC). In this episode Derek and Paddy explore and share insights on: - State Pension changes - Income Tax in retirement - RPC courses & supports - Common retirement planning mistakes - Retirement spending Do's & Don'ts  - Retaining control of your Time in retirement And more! We hope it helps. Paddy Delaney  

This piece is inspired by some recent conversations. These conversations have got me thinking about Financial Independence. It also reminded me how much I love conversations with other people - how the words that other say can have such meaning and depth to them, it's quite a thing! Thanks too to the recent iTunes Review-leavers - such positive words of recommendation and encouragement, thanks! Perhaps you have already reached Financial Independence but you just haven't realised it yet! Or perhaps you are afraid to consider it! I hope this gets you thinking a little. Paddy.

What is the relationship between life and your money? Listen to this conversation we had with George Kinder to hear more about Life Planning.  For years I have been fascinated about how our relationship with money influences what we do, and don't do in life. So much so that I have begun my own journey to become a Registered Life Planner, to compliment my technical financial qualifications and experience. I was delighted to chat with George Kinder, the 'godfather' of Life Planning within Financial Planning circles, and to share how it can help us all. I hope you find it insightful and useful in your own life/financial planning. Paddy. Links: Kinder Institute George Kinder Site Ryokan Poetry  

This week there have been two 'big news' revelations about Irish Commercial Property Funds, neither of which will be deemed positive. This media coverage has many thousands of investors very concerned and dare I say, anxious. In a break from tradition, I am engaging in current market events, in the interest of helping ease some anxiety for investors. This week we share some ideas and experience which might be useful for anyone who has concerns about their investments in Irish Commercial Property Funds, whether through your pension or investments. I hope it helps. Oh, so as to be totally clear, a couple of comments on where we stand on these funds. Firstly, whatever about investing directly in bricks and mortar or via a clients' pension structure, Commercial Property Funds are not something we engage with for our clients (partly due to the very things that are currently happening to investors in them) Secondly, we have zero professional financial planning relationship with any of the companies that are getting

Many of us hear about Financial Independence, and it being a distant objective. But does it have to be a distant objective?? This week we chat with Kelvina Galavan (Mrs. Smart Money) about her journey, and how she, her husband and kids have begun living on their own terms. They took control of their finances, and are reaping the rewards! I hope you enjoy the chat as much as I did! Mrs. Smart Money website Paddy Delaney QFA RPA APA

As of March 31st 2020 new Central Bank of Ireland rules will mean that only a financial advice firm that does not receive commissions from sales of products will be entitled to state they are an 'Independent Financial Advisor' in Ireland. These firms (of which Informed Decisions is one of a handful in the country), will be entitled to use the term 'Independent' in describing their service. That will see quite a few firms which currently use the term Independent having to get websites altered and cabinet-fulls of marketing materials re-printed. It is intended, I understand, to help consumers more easily identify what type of advice they are likely to receive, based on the firms' description. I've said it before and I'll say it again, there are hundreds of really great advisors in Ireland - irrespective of what title they go by. You and your financial future stand to do far far better with even an average advisor than with no advisor - that fact has been proven time and time again. Anyway, back on track, this

A lot of folk, mostly at the encouragement of some advisors, decided to invest in Absolute Return Funds in Ireland. While they promised a lot, many of those same people are now questioning the decision to do so. This week, on Ireland's #1 Finance Blog & Podcast I hope to help you understand what they are, why their performance have been pretty rubbish, and whether they are worth staying in or not! This is an un-biased(ish) review of absolute return funds in Ireland. I hope it helps. Paddy Delaney QFA RPA APA

Welcome to Ireland’s award-winning investment and financial planning Blog & Podcast. As our final Blog of 2019 I have given a lot of thought about what message I would love to share. I have imagined that this was the last ever thing we write, and reflected on what we'd want to share. By the way, unless I unexpectedly die over the holidays it won't be the last ever piece - which you may or may not see as a positive! Paddy Delaney