Tag Archives: Carey Corbett Financial Services

Picture this, you just need about five more years and you are there. Approaching retirement is a pivotal moment in life, and in Ireland, preparing for this transition financially is crucial. With just five years left until retirement, it’s essential to consider the various personal finance implications to ensure a comfortable and secure future. So, here’s some advice: Don’t blow it. Financial mistakes in the few years before retirement can quickly—and permanently—derail your plans. When planning for retirement, individuals often encounter a variety of pitfalls that can hinder their financial security in their golden years. For example: One of the most common mistakes is not starting to save early enough, which can significantly impact the growth potential of retirement funds due to the power of compounding interest. Another frequent oversight is underestimating the amount needed to maintain their desired lifestyle post-retirement, leading to insufficient savings. Many also fail to account for healthcare costs, which can be a major expense later …

Today we are covering a particularly important trend – financial scamming. This article focuses on you, and your personal finance and highlights the critical issue of protecting your money from scammers. In Ireland, as in many parts of the world, financial scams have become increasingly sophisticated and prevalent. Protecting personal finances from scammers is a critical concern for individuals. Awareness is the first line of defence; understanding the common tactics used by scammers, such as phishing emails, fake websites, and fraudulent phone calls, can help individuals remain vigilant. It’s also essential to keep personal information secure, be cautious when sharing sensitive details online or over the phone, and regularly review bank statements for any unauthorized transactions. Additionally, using strong, unique passwords for online banking and other financial services, and enabling two-factor authentication where available, can significantly enhance security. MONEY MULES None of us ever think we will be a victim to fraud. However, it is more common than you think …

It seems like we haven’t had two dry days in a row for months and with Easter coming up many people are starting to think about sunny days and holidays. With this in mind, we frequently get asked is it a good idea to buy a holiday home as a property investment? Today’s article looks at this topic from a financial rather than romantic viewpoint. Thinking about purchasing investment property? Property has produced many of the world’s wealthiest people, so there are plenty of reasons to think that it is a sound investment. However, experts agree, as with any investment, it’s better to be well-versed before diving in with hundreds of thousands of euros. Here are the things you should consider and investigate. 1. Consider Your Comfort Level with Being a Landlord We are presuming you are going to rent it out if you are considering it as an ‘investment’. If you wish to use it yourself as a holiday home it can …

To get a mortgage in Ireland, you will generally need to follow these steps: decide if you want to use a broker to explore your options, choose a bank with a mortgage that suits your needs, hand over the paperwork requested and get an offer in principle, find a property within your budget, and agree a purchase price with the seller and choose a local solicitor who will help with the legal aspects of the purchase. Like most things in life the ‘devil is in the detail’ – so we would strongly recommend you consider using a mortgage broker who can hold your hand through the process, not to mind the volume of paperwork required. Today we would like to cover some of the main Support Schemes available to home buyers? The First Home Scheme Ireland 2024 is a First Buyers Grant that works as an equity scheme, while the Help to Buy Scheme is a tax refund scheme. It …

January is a month for minding money, one common practice is over paying on financial products. Today we will look at some financial protection products. Many mortgage holders are paying over the odds for mortgage protection — often because they just took whatever policy was offered by their lender. Let us start with the basics – what is mortgage protection? Mortgage protection is a type of life insurance that pays off your mortgage if you die or become ill. It is usually required by lenders when you take out a mortgage, except in some cases, such as if you are over 50 or already have enough life cover. In Ireland, there are different types of mortgage protection policies available, such as single, joint or dual. • A dual policy pays twice the amount of the mortgage if both partners die, • While a single or joint policy only pays once. You can compare the rates and benefits of different providers …

Cancer is one of the leading causes of death worldwide, and its impact is felt by everyone, including those in Ireland. A cancer diagnosis can be a life-changing event that affects not only the patient but also their loved ones. In addition to the emotional toll, cancer can also have financial implications, especially if the person is unable to work or needs expensive treatment. According to the Irish Cancer Society, about 1 in 2 people will be diagnosed with some form of invasive cancer (excluding non-melanoma skin cancer) in their lifetime. Cancer can have a significant impact on your physical, emotional, and financial well-being. That’s why it’s important to have adequate life insurance cover to protect yourself and your loved ones in case of a cancer diagnosis. Life insurance is a type of insurance that pays out a lump sum of money to your beneficiaries if you die during the term of the policy. Life insurance can help your family …

MOST people’s eyes glaze over if the topic of pensions is raised! Saving for retirement is extremely important. People are living longer and leading more active lives in retirement. As a result, it is more important than ever for you to think about where your income will come from when you retire. Pension saving is one of the few areas where you can still get tax relief. Unfortunately, only about half of the people working in Ireland are members of pension arrangements. Today let’s discuss a defined benefit pension. What is a defined benefit pension scheme? A defined benefit pension, or sometimes know as final salary pension, is a special type of workplace pension. Instead of building up a pension pot over time, it provides you with a guaranteed annual income for life, based on your final or average salary (hence the name). DB pensions are most often provided by the public sector (health, education etc) and government employers. Some private …