Eamon’s Financial Blog

 

Eamon Porter, trading as Aspire Wealth Management, is regulated by the Central Bank of Ireland.

What is Financial Planning All About?

When I mention that I am a Financial Planner to someone who doesn’t know me I sometimes get strange looks as if I am either someone from other space or somewhere else. Some that know me well might rib me a bit on the former but sometimes saying the truth, especially about money matters, doesn’t earn you any bouquets.  Maybe it’s because the words “Financial Planner” have become confused in most people’s lexicon with terms such as “Financial Adviser”

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The 2014 Budget And The Effect It Has On Most People’s Financial Planning.

On the day following the 2014 Budget the financial media will be awash with a regurgitation  of the various elements but most will hold back in giving advice or prodding its readers into thinking about what to do next. While we have set out below some of the main points that effect financial products, it is probably better to take in quickly those issues that deserve immediate consideration. This short list is not to be interpreted

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The Madness of Budgets (or talking about them)

This coming week will see the Irish Government introduce its 2014 State Budget. The Sunday newspapers today are full of commentary and recommendations for what the Government should or should not be doing. While the news over the weekend that we will exit the Bailout in December is to be welcomed the truth is that the Irish State 2014 Income & Expenditure has been written in stone for several years. Thanks to the sins of

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The Secret Society of REAL Financial Advisors

Last Monday I was fortunate to be involved with the visit to Dublin of Carl Richards, an internationally acknowledged speaker on Behavioural Finance. Carl hails from Utah, USA and is a regular contributor on personal finance to the New York Times. Carl spoke to a room of over 100 Irish financial advisers at an event which myself and my colleagues from the Society of Financial Planners of Ireland arranged. Carl’s particular skill is the ease

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Why A Secure Bank Deposit Costs You Money?

Recently, Rabobank Ireland announced that with effect from the 5th September they will be reducing their Gross Interest Rate on demand deposits over €20,000 from 2.40% Gross to 2.15% Gross. This is only to be expected with the ECB rate being cut by 25 basis points. Nevertheless at first glance it appears to be a reasonable rate when you consider that Rabo is a AAA rated bank. While other banks in Ireland are offering higher rates, their credit

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Why The Pension Levy Is Shortsighted & Unfair

At this stage most self employed people know that as part of the Government’s initiative to promote job creation, a 0.6% levy has been introduced on personal pension funds. The levy is being applied on all capital value assets under management of funded pension schemes and personal pension plans established in Ireland. Thankfully it is not applied on Approved Retirement Funds of those who have retired. The levy has been stated by the Government to

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Eurozone Interest Rate Rises

Today, the European Central Bank did what it hinted last month that it would do, namely raise its main interest rate by a quarter of a percentage point to 1.25%. This is the bank’s first increase since 2008 when downward interest rate  movements started. Their rationale, as with other Central Bankers around the world in such circumstances, is to use such a rise to counter the prospect of overheating inflation within the Eurozone. Such inflation

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Battered and bruised but life goes on

Based on anecdotal evidence most of our clients have been toughing it out for the last 24 months in particular. No sector seems to have been saved the savagery of the global financial crisis. Despite this I get a sense that having made the necessary cuts in overheads (including laying people off) many sectors are starting to pay their own way if not edge a little bit into profit. From our perspective, we as financial

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