In Ireland, one has to be at least 66 years to qualify for state pension. The age of retirement is set to increase over the next few decades. It will increase to 68 years. Life starts at 50. Retiring is not the end of life. It marks the start of a brand new life. This is a time to be cherished. Old age is a blessing. It is a blessing to be able to see one's children grow into adults and to be able to see grand children and even great grand children. Retirement advice Dublin is vital.
A retiree should not be in a hurry to withdraw from his pension plan. In most cases, taxes are not paid on pension savings. They are tax deferred. That means that someone will start paying taxes as soon as he withdraws. If one has a business or part time job, he should continue earning from those sources and withdraw less from the plan.
Retirees also require estate planning advice. Many years of working and climbing the corporate ladder will leave a person with a substantial estate that is diversified into several assets such as real estate, stocks, and precious metals. A person should plan for this estate when he still has the physical and mental energy to do so. Legal assistance is needed.
Happiness advice will help a retired person to live his life to the full. It can be hard to be happy when one knows that aging is slowly creeping in. However, happiness is a mindset. It is something that an individual will need to actively pursue. Happiness will not come in a silver platter. One should resist the temptation to be sad.
Before retirement, one should strive to clear all his debts. Being indebted will interfere with the enjoyment of old age. A retiree must also avoid debt. Long term debt such as mortgage is especially bad. A mortgage can take more than a decade to be cleared. The best way to avoid debt is to live within personal means. One must not overspend.
A healthy retirement is desired. It is easy to stay healthy after retiring. After all, one will have all the time in the world that he should dedicate to caring for his health. There is the need to exercise more and eat healthy foods. Most working people find it hard to exercise because of their tight schedules at work.
A retired person should always be on the move, for all the good reasons. He needs to explore the world. Most retirees normally sell their expensive houses and buy cheaper ones because after all they will not be spending much time in the house. They will be on the road in search of adventure. A retiree needs a travel bucket list.
Retired individuals who have large investment portfolios need to hire financial advisers. An adviser will develop a strategy for maximizing gains from the portfolio. An emergency fund is also required. This will cater for emergencies such as health emergencies. A retired person needs to be fully insured. He needs to have comprehensive health insurance. He should take better care of his health than before.
A retiree should not be in a hurry to withdraw from his pension plan. In most cases, taxes are not paid on pension savings. They are tax deferred. That means that someone will start paying taxes as soon as he withdraws. If one has a business or part time job, he should continue earning from those sources and withdraw less from the plan.
Retirees also require estate planning advice. Many years of working and climbing the corporate ladder will leave a person with a substantial estate that is diversified into several assets such as real estate, stocks, and precious metals. A person should plan for this estate when he still has the physical and mental energy to do so. Legal assistance is needed.
Happiness advice will help a retired person to live his life to the full. It can be hard to be happy when one knows that aging is slowly creeping in. However, happiness is a mindset. It is something that an individual will need to actively pursue. Happiness will not come in a silver platter. One should resist the temptation to be sad.
Before retirement, one should strive to clear all his debts. Being indebted will interfere with the enjoyment of old age. A retiree must also avoid debt. Long term debt such as mortgage is especially bad. A mortgage can take more than a decade to be cleared. The best way to avoid debt is to live within personal means. One must not overspend.
A healthy retirement is desired. It is easy to stay healthy after retiring. After all, one will have all the time in the world that he should dedicate to caring for his health. There is the need to exercise more and eat healthy foods. Most working people find it hard to exercise because of their tight schedules at work.
A retired person should always be on the move, for all the good reasons. He needs to explore the world. Most retirees normally sell their expensive houses and buy cheaper ones because after all they will not be spending much time in the house. They will be on the road in search of adventure. A retiree needs a travel bucket list.
Retired individuals who have large investment portfolios need to hire financial advisers. An adviser will develop a strategy for maximizing gains from the portfolio. An emergency fund is also required. This will cater for emergencies such as health emergencies. A retired person needs to be fully insured. He needs to have comprehensive health insurance. He should take better care of his health than before.
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Find out how to get the retirement advice Dublin locals count on by touring our web pages. To learn more about our fees and our personal finance solutions, use the links at http://www.bluewaterfp.ie/personal-finance/retirement-advice today.
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