The earlier you start your pension the better. Why?
Firstly, Pension investing is very tax efficient.
For example, if you are a 40% tax payer;
If you invest EUR 120.00 | The Irish Government will invest EUR 80.00
There will then be a total investment into your pension of EUR 200.00
Secondly, the power of investment returns and compounding!
The attached graphic above shows that if you were prepared to commit to investing EUR 120.00 a month from age 25, than at age 65 you could potentially have a fund of EUR 186,000
- over a 40 year period a 25 year old will generate a 60% greater return than a person starting 10 years later!
- over a 40 year period a 25 year old will generate a 180% greater return than the person who waits until they are 45.
IMPORTANT – Even if you are 45 and have not started a pension investment plan there is still time to catch up!
If you have a financial planning or product question please contact us :
This article was written by Rory Nelson, founder of Nelson Life. Rory is celebrating 20 years in financial planning this year. Professional qualifications include; UCD Specialist Diploma in Wealth Management, Pension Trustee Practitioner PTP, UCD Professional Certificate in Stockbroking,UCD Professional Certificate in Asset Management (SIA), QFA FLIA, Pensions Diploma, Mortgage Advice Diploma, CFP module – Tax & Estate Planning and has a degree in BA Accounting & Finance. He has regularly participated in national financial press.
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RETIREMENT & PENSIONS | INVESTMENTS | LIFE INSURANCE | FINANCIAL PLANNING.
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WARNING: Past performance is not a reliable guide to future performance.WARNING: The value of your investment may go down as well as up.WARNING: You may lose some or all of the money you invest.WARNING: These funds may be affected by changes in currency exchange rates.WARNING: If you invest into this product you will not have access until you retire.WARNING: The above content does not constitute investment advice, as it does not take into account the investment objectives, knowledge and experience of financial situation of any particular person. Prospective investors are advised to make their own assessment of the information contained herein and to obtain professional advice suitable to their own individual circumstances.WARNING: The information contained in this document is based on our understanding of current tax legislation and the current Revenue Commissioners interpretation thereof and is subject to change including retrospectively without notice. This is intended as a general guide only and is not a substitute for professional tax, legal and investment advice.
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