Your ability to earn an income is your biggest asset, if you no longer have the ability to earn this income there is a huge impact on your lifestyle and dependants if you don’t have the right protection in place, as everything will stop.
Join us on Thursday 12th of September to hear from Paul Merriman who will share with us his top tips on income!
08:00 AM - 09:30 AM
Dublin Chamber, 7 Clare Street, Dublin 2 D02 F9O2
1) Protect your income, so that in the event of illness injury or death that you, your family and your business and protected and receive a replacement income.
With over 248k SME Firms - we are a nation of SME’s. There are approx. 1,800 men per month involved in start-ups and 1,100 women. (according to Global Entrepreneurship Monitor of 2017) we are the 7th Highest in Europe Female entrepreneurship!
Self- employed are the most vunerable sector , it’s crucial to have the right products in place
2) Grow your income. Once your income is protected, it’s important to make your money work harder and earn more money to build your cash reserve over time at a risk level that is suited to you.
3) Replace: We are living longer healthier lives so it’s vital that you put the right plan in place to ensure you have the lifestyle that you want when you reach retirement. Would you be able to live on €243.30 a week and be able to continue your currently lifestyle? Probably not, it’s never too late or too early to start a pension.
Men are almost 40pc better off financially than women in retirement - making pensions one of the biggest, and probably the most serious, gender investment gaps in Ireland.
Pauls Top 5 tips for income:
1) Personal budget
a.Treat your finances like a limited company and streamline your outgoings
2) Find your disposable figure
3) Seek Advice
a.Protect, Replace & Grow
4) Use tax incentives
a.On products like income protection & pensions especially for the self employed
a.Money should enhance your life not impede it
Paul has built up a strong media profile with regular slots on Ireland & Weekend AM and Newstalk where he answers question from the public on all aspects of financial planning.