We established in my last blog that I’m 36, a Private Client Manager at Metis Ireland and I have a pension. What I didn’t disclose was that it was by pure luck that I set up my first pension when I was the tender age of 24. I was playing professional rugby with Connacht Rugby earning decent money for a 24-year-old doing something that didn’t feel like a job.

 

I sat in the Connacht boardroom on a Wednesday (generally our day off) to listen to someone harp on about pensions. The IRFU would add 10% to my personal contributions, I went along with the herd mentality, signed the dotted line and the rest as they say is history. Best financial decision I ever made even though at the time I didn’t have a clue what I had just signed up for.

 

I had just signed up for a Pension with a 95% Allocation Rate and a 1.65% Annual Management Charge. I didn’t see the adviser again (how many of you reading this have had this experience ‘True Irish Financial Advice’). That was until I called him to discuss a better charging structure and policy. You see, I was now studying for my Financial Adviser exams while still playing rugby and I could now see the hidden charge of a 95% allocation rate. Please watch my colleague Carl Widger’s very honest and informative short Vlog on Allocation Rates, Pension Charges and Real Financial Planning.

 

http://https://vimeo.com/292673238

 

There are plenty of considerations to take into account when setting up a pension as seen in the Vlog: Allocation Rates, Annual Management Charges, Total Expense Ratios and Ongoing Charge Figures are important.

 

However, Carl Widger alludes to the fact that the starting point of any financial decision (investment, pension or protection need) should be your Personal Financial Plan. At Metis Ireland, we call this the Metis LifePlan and we use cashflow modeling software to model your future. The Metis LifePlan provides a clear financial road map to put you and your family in the best possible position to achieve your lifestyle goals. At Metis Ireland, we thrive on helping busy and successful people put a long-term financial plan in place that provides clarity, structure and peace of mind. This allows clients to focus on what they do best and to live the life they’ve always wanted.

 

 

I got lucky in setting up a pension early, it will benefit from another 25+ years of compounded tax-free growth. My pension is now a small but important part of my family’s Metis LifePlan. Don’t leave your future to chance or pure luck. If you’re reading this and don’t have a clear Financial Plan in place, then it’s as easy as clicking HERE and filling in a few details or picking up the phone.

 

Life is not a dress rehearsal – So what are you waiting for?

 

 “A dream is just a dream. A goal is a dream with a plan and a deadline.”
Let us show you the Metis LifePlan and see if we can make your dreams a reality.

 

Keith Matthews
Private Client Manager

 

 

 

Disclaimer

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 independent 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.

Disclaimer


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.