Understanding Auto Enrolment and What it Means for Business Owners  This article talks about something that’s on the horizon for all of us: auto-enrolment.   You know that pension scheme proposal that’s been buzzing around? We think it’s important for business owners like you to understand the implications it may have.  So, what exactly is auto-enrolment?   Well, it’s a plan to encourage more people in the private sector to contribute to their pensions. Right now, only about 35% of workers in that sector are actively saving for their retirement. The government is ..read more

Understanding the different types of Protection Policies   Choosing a protection policy can be confusing. From mortgage protection to serious illness cover, knowing your options is key.  Mortgage protection is insurance designed to pay off your mortgage in the event of your death, ensuring your loved ones aren’t burdened with mortgage repayments. It provides financial security and peace of mind for both you and your family.  Serious Illness cover pays out a lump sum if you’re diagnosed with a specified critical illness covered by the policy. It will provide a lump sum paym ..read more

A Guide to Level Term vs. Decreasing Term Mortgage Protection.  When it comes to safeguarding your home and family’s financial future, mortgage protection is key. In Ireland, two common options are Level Term and Decreasing Term.    Level Term Mortgage Protection  This is a straightforward insurance plan that offers a fixed amount of coverage throughout your mortgage term. The amount insured stays the same over the life of the policy, so as your mortgage balance decreases, the remaining balance of the policy will be paid to the surviving estate if you were to pass awa ..read more

An Easy Guide to Estate Planning  Estate planning is important for anyone who wants to protect their assets and ensure a smooth handover to the next generation. Practical planning tools to get started:   A Will: This is a legal document prepared by a Solicitor that describes how you would like your assets to be distributed after you pass away. It shows who gets what and helps prevent disagreements that may arise among your family. It’s an essential first step in any estate plan. Power of Attorney: This is a legal arrangement which appoints someone to look after your financial a ..read more

Simplifying Section 72: Paying Less Tax on Inherited Policies  Simplifying Section 72: Paying Less Tax on Inherited Policies  When managing your money, understanding taxes is an important element of Estate Planning. One area that can help you transfer your  family assets by paying less tax when you pass away, is called a Section 72 Life Assurance Policy    This plan will provide a cash payment when you die which your family can use to pay any tax bills that might result. The proceeds of this life insurance policy are exempt from inheritance tax    , however ..read more

Setting Financial Goals  Setting clear and achievable personal financial goals is the key to shaping a secure financial future. In this blog, we’re here to guide you through the process, aligning your goals with your aspirations and current life circumstances.  Look Back at Last Year  Start by reflecting on the past year. Think about your financial highs and lows, challenges, and life changes that have impacted your money plans. This review will help you set realistic and meaningful goals.  Decide What You Want to do with your money  What financial milestones are you ..read more

Mortgage Application Process A step-by-step breakdown of the mortgage application process:  Step 1 – Complete the Application Form  The mortgage application form must be filled out with all the necessary details, including your name, address, date of birth, amount you wish to borrow, and PPS number. Make sure the information is accurate and up to date.  Step 2- Gathering Supporting Documents  Collect the required supporting documents, such as bank statements, loan account schedules, and payslips. These documents demonstrate your financial stability and ability to repay you ..read more

This Time Next Year: A Journey to Financial Success  With a new year just around the corner, it’s the perfect moment to reflect on our aspirations and set the stage for positive change.   Picture this: this time next year, envision a life where financial uncertainty is replaced with confidence and doubt transforms into security.   How do we turn this vision into reality? The answer lies in the transformative power of financial planning.  The Power of Now  In a world that often feels fast-paced and unpredictable, it’s easy to neglect the importance of financi ..read more

Securing Your Future: The Importance of Financial Planning  The need for a solid financial plan is often overlooked. Many individuals might find themselves caught up in daily life, forgetting to plan for their financial future.   In this blog, we will explore why everyone needs a financial plan and how it can be the key to unlocking a secure and prosperous future.  Economic Uncertainties: Ireland, like any other country, is not immune to economic uncertainties. A robust financial plan can act as a shield, helping you through unexpected events such as job loss, illness, or mark ..read more

Ireland’s Budget 2024 Breakdown: A Comprehensive Breakdown of Major Changes  Let’s delve deep into the changes…  Tax Cuts:  2024 Personal Tax Credits Increase: Good news for the taxpayer. Personal, PAYE, and earned income tax credits have received a boost of €100, making the new amount €1,875.  Standard Rate Band Expansion: A significant change for higher-income taxpayers. The Standard Rate Band now stands increased by €2,000, taking it to €42,000.  Universal Social Charge (USC) changes in 2024: The 4.5% USC has been scaled back to 4%. Moreover, the ceiling for the 2 ..read more