“Clarity, Focus, Planning & Accountability

A goal without a plan is just a dream!

Get really clear on what matters most to you

You should have short, medium long-term goals and a plan to ensure they happen”

Having a plan for retirement is crucial for several reasons:
Financial Security: Retirement planning ensures that you have enough savings and investments to maintain your desired lifestyle after you retire. Without a plan, you may risk outliving your savings or not having enough income to cover your expenses.

Longevity: People are living longer, which means retirement could last for several decades. Planning helps ensure your financial resources will last as long as you need them to.

Inflation: Inflation erodes the purchasing power of money over time. A retirement plan takes into account inflation and adjusts your savings and investments accordingly to maintain your standard of living.

Healthcare Costs: As you age, healthcare expenses tend to increase. Having a retirement plan can help you prepare for these costs, whether through insurance coverage or savings earmarked for medical expenses.

Legacy Planning: A retirement plan can also include provisions for leaving a legacy for your loved ones or supporting charitable causes that are important to you.


Short-Term Goals (1-5 Years):
Emergency Fund: Build an emergency fund that covers at least 3-6 months’ worth of living expenses. This fund acts as a safety net for unexpected expenses or emergencies.

Budgeting: Create a realistic budget that reflects your anticipated expenses and sources of income during retirement. Adjust your spending habits accordingly to ensure that you’re living within your means.

Healthcare Planning: Evaluate your healthcare needs and explore options for health insurance coverage, including Medicare and supplemental insurance plans. Consider factors such as prescription drug coverage, long-term care insurance, and potential healthcare costs in your budget.


Medium-Term Goals (5-10 Years):
Investment Strategy: Review and adjust your investment portfolio to align with your retirement goals and risk tolerance. Consider diversifying your investments across asset classes to mitigate risk and maximise potential returns.

Retirement Income Streams: Explore different sources of retirement income, such as pensions, State pension, annuities, and investment withdrawals. Determine the most tax-efficient strategy for accessing these income streams while minimising your tax liability.

Lifestyle Planning: Think about how you envision spending your retirement years and plan for associated expenses, such as travel, hobbies, home renovations, or family obligations. Adjust your savings and investment strategies accordingly to support your desired lifestyle.

Estate Planning: Review and update your estate plan, including wills, trusts, beneficiary designations, and healthcare directives. Ensure that your assets are distributed according to your wishes and that your loved ones are provided for in the event of your death or incapacity.


Long-Term Goals (10+ Years):
Sustainable Withdrawal Strategy: Develop a sustainable withdrawal strategy for your retirement savings that balances your income needs with the longevity of your assets. Consider factors such as inflation, market volatility, and potential changes in expenses over time.

Legacy Planning: Determine how you want to leave a legacy for future generations or charitable causes. Explore estate planning strategies, such as charitable trusts or gifting strategies, to minimise estate taxes and maximise the impact of your assets.

Health and Wellness: Focus on maintaining your physical and mental health throughout retirement by prioritising preventive care, regular exercise, healthy eating habits, and social engagement. Invest in activities and experiences that promote overall well-being and longevity.


In summary, having a retirement plan is essential for ensuring financial security, preparing for the uncertainties of the future, and enjoying a comfortable and fulfilling retirement. By setting short-term, medium-term, and long-term goals for your retirement planning, you can create a comprehensive financial strategy that supports your lifestyle preferences, mitigates risks, and maximises your overall well-being throughout your retirement years. Regularly review and adjust your goals and plans as needed to ensure that you’re on track to achieve your desired retirement outcomes.


This is what we do every single day at Metis Ireland. Please contact us to set up an initial call. It could be the first step for you to get your best return on life.


Ronan Bourke

Private Client Manager

01 908 1500


Metis Ireland Financial Planning Ltd t/a Metis Ireland is regulated by the Central Bank of Ireland.

All content provided in these blog posts is intended for information purposes only and should not be interpreted as financial advice. You should always engage the services of a fully qualified financial adviser before entering any financial contract. Metis Ireland Financial Planning Ltd t/a Metis Ireland will not be held responsible for any actions taken as a result of reading these blog posts.