Smart Financial

Is your business prepared for the loss of a key person? 💀🎲 Losing a director or shareholder can be a major setback for your business. It can lead to: ➡️ Stalled operations and lost productivity ➡️ Financial strain from creditors and lost investor confidence ➡️ Loss of control if shares fall into the wrong hands ➡️ Legal disputes over ownership and management Co-director insurance can provide financial support to keep your business running smoothly if a key person dies. EXAMPLE: (Link to the Case Study below 🔗👇) Company: Precision Engineering Solutions (3 directors, each owning 1/3) 💼💼💼 Solution: Each director takes out a 'Life of Another' life insurance policy on the other two for the value of their shares. ☂️ Benefit: If a director dies, the remaining directors get the money to buy out the deceased's share and maintain control of the business. 💶💶💶 🔍 Have a look at our Case Study Example: 👇 https://lnkd.in/emMtPmdR BENEFITS OF BUSINESS PROTECTION: 1️⃣ Financial security to cover immediate needs and keep the business solvent. 2️⃣ Continuity and stability to keep operations running smoothly. 3️⃣ Protection for families with fair compensation for the deceased's share. 4️⃣ Legal safeguards to avoid disputes and ensure a smooth ownership transition. Protect your business today! Speak with a financial advisor about life insurance solutions that can protect your business. 📞 01 253 3242 📩 info@smartfinancial.ie #BusinessProtection #LifeInsurance #PlanningForTheFuture #lifeofanother #shareholderprotection #financialadvice #companydirector #businessowner

💼 Purchasing Property via Pension vs. Investing in High-Yield Equities 💰 Want to maximize your retirement savings? Consider these two popular strategies: purchasing property via pension VS investing in high-yield equities. Each has its own benefits, risks, and tax implications. 🏡 Property via Pension: Stable Income: Reliable rental income. Capital Appreciation: Long-term property value increase. Tax Benefits: Tax-free rental income and capital gains within the pension. Control: Direct control over your investment. 📈 High-Yield Equities: Higher Returns: Potential for significant dividend income and capital growth. Liquidity: Easily buy and sell shares. Diversification: Spread risk across sectors and regions. Tax Efficiency: Lower tax rates on dividends and deferred taxes on gains within pension schemes. 🔍 Take a deeper dive into our Case Study Example in the link below: 👇 https://lnkd.in/gNMdfd2S Want to know more? Book a consultation today! 📞 01 253 3242 📩 info@smartfinancial.ie #Investing #RetirementPlanning #PropertyInvestment #Equities #Finance #Ireland

Inheritance Tax in Ireland: How Life Insurance Can Help! Thinking about what happens to your loved ones after you're gone? 🤔 Inheritance tax can be a burden, forcing them to sell cherished assets like the family home or farm. There's a solution! "Life of Another" and Section 72 insurance policies can provide a tax-free payout to cover the inheritance tax bill. This means your loved ones: ✅ Keep the family home or business ✅ Avoid debt and financial strain ✅ Maintain a smooth transition after your passing REAL-LIFE EXAMPLES: 1️⃣ Mary inherited a €700,000 house, facing a huge tax bill. With life insurance, she could keep the house! 🏠 2️⃣ John inherited a farm, but the tax would cripple his business. Section 72 insurance could save the farm! 🦆 3️⃣ Emma inherited a bakery, but the tax could hurt the business. Life insurance could help her keep it running! 🥐 Find out how they prevented a massive tax liability 👉 https://lnkd.in/ezmA-fXw **Don't let inheritance tax cause stress! 😫 Talk to a financial advisor about life insurance options that can save you a LOT of money!** 📞 01 253 3242 📩 info@smartfinancial.ie #inheritanceplanning #financialplanning #lifeinsurance #section72policy #lifeofanotherpolicy

Master Trust vs. PRSA: Which pension is right for YOU as a Company Director?   Confused about the best pension option for company directors? You're not alone! 🤷♂️ Both Master Trusts and PRSAs offer benefits, but which one suits your needs? 🤵💼 Here's a quick breakdown: 🔎 Master Trust: Offers a traditional pension structure with potentially higher lump sums based on salary and service. However, contributions are subject to limits. PRSA: Provides more flexibility and potentially higher contribution limits (up to €2 million standard fund threshold). However, the maximum tax-free lump sum is capped at 25%. ** Still unsure? ** 🫤 Don't sweat it! A financial advisor can help you navigate the options and choose the best fit for your retirement goals. 🅰️ or 🅱️ Follow the link to learn more about the pros and cons for each option 👉 https://lnkd.in/eki9kYvV #CompanyDirectors #Pensions #FinancialPlanning #MasterTrust #PRSA P.S. Share this post with your fellow directors to spread the knowledge!

According to the Central Statistics Office (CSO) survey on pension coverage in Ireland (2023), they found some concerning trends: 1️⃣ More people relying on the State Pension: 🏛 💶 The percentage of workers without private pensions who rely solely on the State Pension after retirement increased to 59%. This is concerning because the State Pension provides a low income, around €14,400 annually, which might not be enough to live on comfortably. 2️⃣ Overall pension coverage remains low: 📉 Only 68% of employees have any kind of pension plan in addition to the State Pension. 3️⃣ Shift towards defined contribution pensions: 👍 There's a move towards defined contribution (DC) pension plans, which are now offered to 66% of workers with occupational schemes, compared to 30% for defined benefit (DB) plans. 4️⃣ Young workers least covered: 🤯 Pension participation is lowest among young adults (20-24 years old) at just 33%. 5️⃣ Average Retirement Pot: 😑 A 2024 study by the Pension Support Line found that the average Irish employee retires with a pension pot of €111,000, which is significantly lower than the €433,000 that most employees believe they would need for a comfortable retirement. This highlights a potential shortfall in retirement savings for many Irish workers. Overall, the survey highlights a potential issue for retirement security in Ireland, particularly for those without private pensions and young people just entering the workforce. It's crucial to consider adequacy. The State Pension alone might not be enough to maintain your desired standard of living in retirement. Here are some takeaways: Start Early: 🐣 The sooner you start saving for retirement, the more time your money has to grow. Even small contributions can make a big difference over time thanks to compound interest. Understand Your Options: 🅰️ or 🅱️ There are various private pension plans available. Research and choose one that aligns with your risk tolerance and retirement goals. Talk to an Expert: 🗣️🧑💼 A financial advisor can help you assess your retirement needs and develop a personalized savings plan. 📞 01 253 3242 📩 info@smartfinancial.ie #PensionPlanning #Ireland #FinancialAdvice #Pension #PensionAwareness #Statistics #CSO

Leaving Your Job and Accessing Your PRSA: Let's Test Your Knowledge! 🧠🤯 Are you thinking of leaving your job? 🚶♂️💨🏢 You may be surprised at when you'll be allowed to access your PRSA. Take a second to answer the quiz below 👇 **Let us know the reason behind your answer in the comments! ** P.S. This is just a quick quiz to spark discussion. Pension rules can be complex, and the best course of action is always to consult with a qualified financial advisor who can help you navigate your way through PRSA's relative to your situation. #PRSA #CareerChange #Membership #PensionPlanning #Retirement P.S. Share this quiz with your fellow PR peeps! ️🗣️

Moving on Up? Don't Leave Your Retirement Behind! 💼💰 Congratulations on the new opportunity! 🙌 But before you head out, did you know you might be able to transfer your existing pension to a Personal Retirement Bond that you can onw personally? We understand navigating pension transfers can be tricky. That's why we offer employees pension transfer solutions. 🙂👌 Our dedicated team can help you: 1️⃣ Understand your transfer options 2️⃣ Avoid potential tax implications 3️⃣ Ensure a smooth transition for your retirement savings Don't cash out! 🚫 Cashing out your pension could mean missing out on valuable growth and future benefits. Let's help you make an informed decision! Get in touch with our advisors today! 📞 01 253 3242 📩 info@smartfinancial.ie 🌐 https://lnkd.in/grJtTYgr #retirementplanning #financialwellness #employeebenefits #careerdevelopment #pensionplanning #pensions

Company Directors: Tax Time Hacks & Building Wealth with a Pension! Feeling the tax pinch? As a director, a company pension can be your secret weapon to minimize tax and maximize your wealth for retirement! Here's the lowdown: Tax Relief: Reduce your company's tax bill by contributing to your pension. It's a win-win! ✅ Maximize Savings: No contribution limits - sock away more for a comfortable retirement. Investment Growth: Grow your savings tax-free within the pension, accelerating your wealth. Retirement Flexibility: Access your funds at retirement, with some tax-free options available. ️ Company Director Options: 🅰️OR🅱️👇 https://lnkd.in/etmxz6Qv Extract profits from your company tax-efficiently: 💰👇 https://lnkd.in/enmtuWFp PRSA Opportunities for Directors: 🔎👇 https://lnkd.in/egfUyYAD **Not sure if a Master Trust or PRSA is right for you? ** Don't sweat it! A financial advisor can help you choose the best option based on your goals. 📩 info@smartfinancial.ie 📞 01 253 3242 #CompanyDirector #Pensions #TaxTips #FinancialPlanning #WealthBuilding

Feeling Lost with Your Money? 5 Budgeting Hacks to Help! 📟👌 Stop living paycheck-to-paycheck! These 5 easy budgeting tips will get you on track to financial freedom: 💸 1️⃣ TRACK YOUR SPENDING: 🤯 Mind blown! You won't believe where your money is going until you track it! Download a budgeting app or use a simple spreadsheet to see what you're spending for a month. #MoneyAwareness 2️⃣ SEPERATE NEEDS VS WANTS: 🍔 Treat Yourself - Later! Distinguish between NEEDS (rent, food) and WANTS (fancy coffee, new clothes). This will help you prioritize your spending! #NeedsVsWants 3️⃣ SET SAVINGS GOALS: 💰 Dream Big, Save Smart! Set a savings goal for something you truly want - a vacation, a down payment, etc. Seeing your progress is motivating! #SavingsGoals 4️⃣ EMBRACE THE "NO SPEND" CHALLENGE: 📵 Can You Do It? Take the "No Spend Weekend" challenge! Avoid unnecessary purchases for a weekend and see how much you save. #NoSpendChallenge 5️⃣ AUTOMATE YOUR FINANCES: ⏰ Set It & Forget It! Automate your finances - schedule transfers for savings & bills to avoid missed payments & late fees. #AutomateYourFinances Did you find these useful? Click the link below for the Bonus Tip!🔗📝👇 https://lnkd.in/guf_bwPe Do you want to start planning your finances better? Book a meeting with one of our financial advisors over a coffee ☕ to discuss putting a plan together! 📞 01 253 3242 📩info@smartfinancial.ie #budgeting #personalfinance #financetips #savemoney #financialfreedom