Make the most of your money in retirement · 2019. 11. 19. · Make the most of your money in...
Transcript of Make the most of your money in retirement · 2019. 11. 19. · Make the most of your money in...
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Make the most of your money in retirement
Cornmarket Group Financial Services Ltd. is regulated by the Central Bank of Ireland. A member of the Irish Life Group Ltd. which is part of the Great-West Lifeco Group of companies. Telephone calls may be recorded for quality control and training purposes
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What goals do you have for your money in retirement?
A goal without a plan is just a wish…
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Why you need a retirement plan
It helps you prepare for the
unknown
It creates focus & control
ASC
It provides guidelines to make better
decisions
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Falling interest rates
2008 5%
2011 <3.5 %
2013 <2.5%
2015 <1.5%
2018 0.2%
*Source: moneyguideireland.com, March 2018, Interest Rates on Savings in Ireland since 2008
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Inflation is based on a basket of goods
RETIREMENT
MIDDLE AGE
Laptop
Low inflation
goods Technology
Mortgage rates
High inflation goods
Heating/oil/gas
Food
Health Care
Car insurance
High inflation goods
Heating/oil/gas
Food
Health Care
Car insurance
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What do these have in common?
SHRINKFLATION!
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Inflation over time
€60,000
€48,000
€100,000
1 YEAR 10 YEARS 15 YEARS
The cost of living is going
up
ASC The value of your money goes down
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Will you have enough money for the retirement you want?
*Source: OECD, 2017: Based on average life expectancy for males and females at age 65
Life expectancy
20-30 YEARS PLUS!
NOT 10 YEARS IN RETIREMENT…
85 *
Average retirement age
60
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Think how long 30 years is
PHONE
1990s Now
IPHONE
2050s
WHAT’S NEXT??
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Travel & social life Active Completing Mortgage
Need to plan for when your expenses go back up
Source: The Economist, 2011
<60 60s 70s 80s
Increased Healthcare Costs
Spend more
90<
Mortgage now paid
More time at home
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Let us do the work for you
Your money in retirement
Lump Sum
Home
Holiday
Car
Healthcare
Inheritance
Family costs
KNOWN UNKNOWN
Emergency cash?
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Let us do the work for you
1-5 years
5 years +
Less than
1 year Short
Medium
Long
Where should you keep your money?
Insurance Company
Investment Plan
Post Office
Credit Union
Bank
Current account
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Let us do the work for you
1-5 years
5 / 10 / 15 / 20 years +
Less than
1 year Short
Medium
Long
Mary has a €100,000 lump sum. Where should it be saved?
€10,000 emergency fund
€70,000 – Managed Fund
€20,000 for known / unknown
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3 key points for long term Investing!
Diversify, diversify, diversify!
Choose carefully
2 3
Understand risk and volatility
1
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How many recessions have you been through?
As you know... the key is not to panic!
Economic cycle
Slow down
Recession Recovery
Boom It’s not about timing the market, it’s about time in the market...
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Step 1: Identify your attitude to risk
Do you know your attitude to risk?
Most of our retirement clients like cautious
investments
Step 2: We create your risk profile
Step 3: We advise investments to match
1 2 3 4 5 6 7 LOWER RISK HIGHER RISK
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Diversification maximises your chances of being right!
DIVERSIFY BY:
Country Industry Company
Fund Manager
Asset Class
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Risk
35%
25%
25%
10% 5%
Low Risk
Equity Bonds Cash Alternatives Property
20%
50%
10%
15%
5%
Medium Risk
10%
75%
5% 5%
5%
High Risk
LOW HIGH MEDIUM
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Things to consider
Provider Charges ASC
AMC – Annual Management Charge
Allocation Rates
1 2 Access to your money
Are there Exit Penalties? Usually in the first 5 years
What suits you best?
3
Choose Carefully
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An award winning broker
Range of assurer options
Why Cornmarket?
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Our working relationship with unions & employers
Why Cornmarket?
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Recommend funds
Review & monitors funds
Communicate key updates
Why Cornmarket? Our Investment Matrix Committee
This is unique to
Cornmarket!
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-
Other Services
Home Health
Car
Travel
Inheritance Planning
Retired Members Life Cover
Savings
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Warning: The value of your investment may go down as well as up.
To sum up
Put a retirement plan in place
Don’t lose to inflation - think long term
Meet with one of our experts!
Warning: The value of your investment may go down as well as up.
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Cornmarket Group Financial Services Ltd. is regulated by the Central Bank of Ireland. A member of the Irish Life Group Ltd. which is part of the Great-West Lifeco Group of companies
Let us do the work for you
Fill out the appointment card to
book your FREE appointment!
For a copy of today’s slides visit cornmarket.ie/retirement-seminars
Let us do the work for you.