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15 reasons why you’re broke – and how you can fix it.

Budgeting Tips Do you need help making your money last until pay day? By facing up to poor spending habits and setting yourself a budget you’ll find that not only does your money go further, but you may even have some left over. You don’t follow a budget Most Irish adults don’t have a household

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How can I protect my family if I get sick?

How would I protect my family if I was in an accident? No one likes to think about suffering an accident or a serious illness, or what would happen financially and the negative impact it  could have on your whole life.  You could never suffer an accident, you might be lucky enough to never miss

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Who is going to fill their shoes?

Have you considered the impact your death, the death of a key employee or business partner would have on your business?

Business owners and their families throughout Ireland are facing this issue every day. Some, however, are much better prepared than others.

As a business owner, you protect your property, your vehicles and equipment. But have you considered what would happen to your business if you died prematurely and the financial impact that it could have on your family? Would your family stay in the business or would they sell the business?

You may also need to consider the impact on your business of the death of a key employee or business partner. Would you have the funds available to buy your co-owner’s share of the business from their family? Would the business be able to sustain the financial loss on the death of a key employee?

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How to buy an Annuity

Research reveals how little time many of us put into choosing an annuity so this week we look at how to get the most from your retirement pot. This is one of the biggest decisions any of us will make. You only get one crack at it, but it’s a decision that can influence the next 20-30 years of your life. So it’s distressing to see some people spend less time than most of us put towards working out our next holiday or what car to buy.

What is an annuity?

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Your health is your wealth. Or is it?

With the lifetime community rating (LCR), now in place, it is thought that between 75,000 and 100,000 people signed up ahead of last Thursday night’s deadline*. It’s reported there was an even split between people buying quality health cover and those buying a cheap, entry-level plan.

It’s worth bearing in mind that not having private health insurance does not mean that you can’t get access to top quality healthcare if you want. If you’re willing to bear the full costs of treatment, then you can have all the top quality healthcare you want, when you want. It’s just that many people could never afford it.

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Welcome to our Budget 2015 Summary

1. Pensions

The pension changes outlined in the Budget and current relevant rules are as follows:

Pension Fund Levy

The Pension Fund Levy will continue in 2015 at the rate of 0.15% as confirmed in last year’s Budget. Minister Noonan has confirmed the levy will cease after 2015.

This is encouraging for all those who hold private pensions and should ensure greater certainty in retirement funding.

Standard Fund Threshold (SFT)

The Minister did not mention in his Budget speech a change to the SFT of €2 million.

Those individuals with pension rights in excess of the SFT of €2 million as at 1 January 2014 have until 2 July 2015 to protect the capital value of those rights by applying for a Personal Fund Threshold (PFT) up to a maximum of €2.3 million. Individuals who already have a PFT will retain that PFT and do not need to take any action.

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Tax-saving opportunities for the Self-employed

If you are self-employed you must calculate your tax liability and make a payment by 31st October 2014 (13th November if registered with ROS) in respect of your:
1. Final Tax Assessment for 2013;                                              2. Preliminary Tax for 2014.

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Income on Death

Family Income Benefit:   This is a frequently ignored form of life insurance, even though it offers appropriate cover for many people, and is cheaper than traditional forms of term assurance. A family income benefit policy will pay a monthly income to your loved ones, rather than a lump sum. This is a big selling

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