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Financial Planning and Guidance. Want to explore all the options under one roof? Financial Mate Ltd T/A Plan Review is regulated by the Central Bank of Ireland.

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Mortgages – Investments – Protection – Pensions – Savings – Deposits and more

Our promise – Free consultation with no pressure, no bias – just clear concise impartial advise. As a Financial Broker I use my expertise on financial planning matters and will work on your behalf giving you a choice of products and providers from across the market. Our service continues after business with free re

ports and we encourage clients to contact us on all personal financial affairs. Providing long-term guidance:

Research * shows that people with long-term financial advisers typically have higher savings and assets than those who do it themselves, irrespective of income, starting net assets and other factors. A Financial Broker is the perfect fit for such a long-term adviser and can help you to stay on course with your financial planning through all of life’s (and the market’s) ups and downs.

* KPMG Econtech report – Value Proposition of Financial Advisory Networks October 2009

01/09/2026

As the academic year begins....Planning Ahead - Saving for Your Children's Education

For many parents in Ireland, funding their children’s education is one of the most significant financial commitments they’ll ever face. Yet, it’s also one that can easily sneak up on you. The earlier you start planning, the easier it is to manage the costs, and to ensure your children have the opportunities they deserve, without undue financial stress.

The Real Cost of Education
Education in Ireland is often described as “free,” but the reality can be quite different. Between books, uniforms, fees, accommodation, and day-to-day expenses, the bills quickly add up.

At secondary school level, parents typically spend around €2,900 per year on costs such as books, uniforms, extracurricular activities, voluntary contributions, transport, lunches, and grinds. This is significantly higher than some traditional estimates, with total costs over six years potentially reaching about €17,500 per child. These costs include grinds (~€825), lunches (~€429), and transport (~€237), all major contributors to the total annual expense.

However, the real financial challenge often begins with third-level education.
According to recent studies:
• A student living at home costs an average of approximately €6,100 per year.
• A student living away from home can cost between €14,000 and €14,500 per year, depending heavily on accommodation and location.

For a four-year degree, this means you could be facing total costs of roughly €24,500 to €58,000 per child and that’s before factoring in inflation or potential postgraduate study.
Government grants and scholarship programs are available and can help reduce costs, so it’s worth exploring these options as part of your planning.

Why Starting Early Matters
Being proactive is the key. Starting a savings plan early allows you to spread the cost over time and take advantage of compound growth. In other words, your money earns a return, and then your returns start earning returns.

Leaving it too late often means having to draw on income or borrow at a time when other financial pressures, such as mortgage payments or retirement planning, are already in play.
The message is simple: a small, regular contribution today can make a big difference tomorrow.

The Limitations of Traditional Savings Accounts
While it’s always wise to have some funds set aside in an accessible savings account, relying solely on traditional deposits is rarely the most effective way to grow education savings.
Interest rates on deposits remain low, and when inflation (currently about 2.2% annually for education costs) is taken into account, the real return can be negligible or even negative.

Let’s look at an example:
If you save €250 per month for 15 years, you’ll contribute a total of €45,000.
• At an average 2% annual return, your savings could grow to around €52,000.
• At an average 4% annual return, your fund could reach roughly €61,000.

That’s a difference of €9,000, achieved simply through a higher long-term growth rate and 4% is not something typically achievable at present through standard bank deposits.

A Smarter Way to Save – Regular Savings Plans
A Regular Savings Plan with a leading life company offers a flexible and effective alternative. These plans allow you to invest a regular monthly amount (often as low as €100) into a range of professionally managed investment funds tailored to your timeframe, goals, and attitude to risk.

You can increase or decrease contributions as circumstances change, and access a wide selection of funds from cautious, low-risk options to more growth-oriented investments.
Over time, this approach allows your savings to work harder, with the potential for higher long-term returns compared to deposit-based saving.

Crucially, you retain flexibility: you can pause contributions, make lump-sum top-ups (note minimum lump sums may apply), or adjust the plan as your needs evolve.

The Importance of Regular Reviews
Once your plan is in place, it’s important not to set it and forget it. Regular reviews ensure your savings remain on track, reflect changes in your circumstances, and take account of market conditions or new opportunities.
We recommend reviewing your plan at least once a year to make sure it continues to meet your objectives.

Professional Guidance Makes the Difference
When it comes to investing for something as important as your child’s education, good financial advice matters. As an independent broker, we work with all the leading providers, ensuring that your plan is not only competitive, but also aligned with your personal goals and comfort with risk.

We’ll help you understand your options, structure a plan that fits your budget, and keep it under regular review as your family’s needs evolve.

In Summary
The cost of education is significant but entirely manageable with the right planning. By starting early, choosing the right savings vehicle, and reviewing it regularly, you can turn what might otherwise be a financial shock into a well-prepared milestone.
If you’d like to discuss how to put an education savings plan in place or review your current arrangements, we’d be delighted to help you get started.

Kevin O’Neill
Warning: The value of your investment may go down as well as up.

24/08/2026

Really good article from our colleagues in Zurich..
Retirement isn’t a number - it’s a plan

Retirement isn’t as simple as calculating 'the magic number'. It's shaped by:
• Personal goals
• Family priorities
• Health and lifestyle
• Market conditions
• Life expectancy
• Your appetite for risk

Retirement is often described as a milestone but it’s a full financial journey. Retirement today lasts 20+ years on average, involves navigating multiple risks, and demands far more than a simple “how much do I need?” calculation.

Every person’s situation is different, which is why a one-size-fits-all approach simply doesn’t work. Here’s what really shapes retirement outcomes, and why good financial planning matters.

1. Lifestyle choices and 'bucket list' goals

Today’s retirees are more active and live longer. Many have big plans for their early retirement years - from travel to new hobbies to helping children or grandchildren.
These goals impact:
• How much income you need
• How long your pension pot must last
• How you should invest leading up to, and throughout, retirement
With many over-55s holding a significant portion of Ireland’s household wealth*, it becomes even more important to make those assets work effectively. That can be through investing in multi-asset funds like the Prisma range from Zurich, choosing a risk level that suits your needs through the Personalised GuidePath strategy, or maintaining a balanced mix of assets in retirement that can support both day-to-day spending and long-term financial security.

2. Legacy and inheritance planning

Legacy planning is a crucial part of retirement - not just for passing on wealth, but for ensuring clarity, minimising stress for loved ones, and doing so in a tax efficient manner.
At a minimum, every individual should have a professionally drafted Will, reviewed after major life events. Beyond that, there are several practical steps that help shape a thoughtful, efficient legacy plan.
Many people use Small Gift Exemption strategies to pass on €3,000 a year tax-free to children or grandchildren, while Zurich’s Child Savings Plans offer a structured way to build long-term value for younger family members. When a larger estate is involved, Section 72 policies can be used to cover inheritance tax, ensuring beneficiaries mitigate the possibility of an unexpected tax bill.
Business owners can use pensions as part of their future exit strategy and can protect their business from their unexpected loss using corporate succession solutions, such as keyperson and co-director insurance to help ensure business continuity and provide liquidity for buyouts or inheritance needs.
While these decisions are deeply personal, the right combination of tools; a Will, efficient gifting strategies, appropriate policies, and simple investment structures – can ensure your legacy passes smoothly, tax-efficiently, and exactly as intended.

3. Income needs change throughout retirement

Retirement isn’t one long, predictable expense pattern. It evolves - in early retirement, spending typically rises as people travel more, upgrade their lifestyle, or complete major projects. Day-to-day spending usually stabilises as routines settle. In later years, healthcare, support services, and medical costs often increase. Because your needs change over time, your income strategy should change too.

A strong retirement plan includes:
• Flexible drawdown: in years where markets are volatile, you can choose to withdraw income from your lower-risk funds, giving your higher growth funds time to recover instead of selling them at a bad time.

• Taking advantage of strong markets: when equity or multi-asset asset funds perform well, you can draw more income from those funds, naturally trimming gains while keeping other assets untouched.

• Maintaining your target risk level: combining flexible withdrawals with your Approved Retirement Fund (ARF)’s rebalancing feature keeps your investments aligned to your goals.

• A well-managed, flexible income plan can help you make the most of your early years, support greater stability in your middle years, and may better prepare you to meet rising costs in the future.

4. Reserve strategies

A rainy-day fund is essential, even in retirement, because unexpected costs don’t stop once you leave the workforce. Home repairs, medical bills, helping children through financial pressures, or even short-term market downturns can all require immediate access to cash. Without readily available liquidity, retirees may be forced to withdraw from their ARF at the wrong time, potentially locking in losses and worsening sequencing risk.

One of the most important, but least understood, retirement risks is sequencing risk. Two investors with the same average annual return can end up with dramatically different outcomes depending on when market losses occur. Early losses in retirement can significantly shorten how long savings last.

A practical approach is to maintain one to two years of planned income in low-risk or cash-based funds, while keeping longer-term assets invested for growth. This structure ensures there’s always a pool of stable assets to draw from when life happens, without disrupting the long-term investment strategy that underpins retirement income.

5. Longevity risk: a 20+ year retirement

As people live longer, longevity risk has become a major factor in retirement planning. A retirement that lasts 25–30 years means your savings must stretch further, so it’s important to consider whether your fund growth can sustainably support your drawdowns over time.
Multi-asset funds such as the Prisma range, combined with strategies such as Personalised GuidePath and ARF Rebalancing or maintaining a short-term cash reserve, can help keep your portfolio aligned with your goals.
Longer retirements also make inflation more impactful, so choosing investments with built-in indexation or inflation-linked growth potential becomes essential. And because medical and care costs typically rise in later life, it’s worth reviewing your Health Insurance cover and setting aside funds for future health needs or using part of your tax-free lump sum to future-proof your home.
Longevity risk isn’t just about living longer - it’s about ensuring your finances can sustain the lifestyle and security you want for as long as you need them.

6. Medical expenses and health-related shocks

Medical needs in retirement can vary widely, and the financial impact can be significant. Long-term care costs, ongoing medical treatments, and sudden health events can reshape a retirement plan overnight. Rising healthcare concerns mean retirees need protective buffers built into their financial strategy - not only to cover immediate expenses, but also to safeguard long-term income sustainability.
A sensible approach is to maintain a dedicated healthcare contingency fund within your ARF or savings, alongside broader emergency reserves.
Layering in guaranteed income: in mid-to-later retirement, you can choose to convert part of your Approved Retirement Fund (ARF) into an annuity to lock in a guaranteed income for life - reducing pressure on your remaining investment portfolio.
It’s also worth reviewing your protection cover: Serious Illness or Cancer Cover can provide a lump sum that helps manage the financial shock of a diagnosis, while those still working should ensure their Income Protection remains in place up to retirement age to protect their earning power before they retire.

Retirees may also choose to use part of their tax-free lump sum to fund health-related home adaptations or private healthcare needs.
Retirement planning is not just having a pension or choosing between an ARF or annuity - it’s a tailored, ongoing advice journey.
With the right structure, tools and advice - from funding to decumulation to legacy you can build a retirement that is personal and can support your financial future.

Retirement isn’t just about numbers - it’s having reassurance, clarity and confidence. Whether you’re early in your career or fast approaching retirement, now is the right time to reflect, plan, and take control of your financial future.

19/08/2026

The retirement fears clients rarely say out loud..but we can help!

Clients may tell you they are worried about the economy, political events or market volatility. What often lies beneath those concerns, however, are deeper personal fears about their future.

The good news? Financial advisors can address many of these worries and provide great value for their clients. Here are some of clients’ biggest worries:

Fear: Running out of money

One of the most common concerns clients have is depleting their assets during retirement. This fear affects people across income levels, including those with substantial wealth.
Advisors can ease this concern by conducting regular retirement income analyses and exploring best-case, worst-case and most likely scenarios. Annual reviews help clients understand whether they remain on track and make adjustments before problems arise.

Fear: Not saving enough for retirement

Many people look at their retirement balances and feel they started too late. They worry they will never catch up.
This is where a comprehensive financial plan becomes essential. Financial advisors can help clients identify opportunities to save more, adjust spending habits, and take advantage of catch-up contributions or other retirement savings strategies available in their country.

Fear: The cost of long-term care

Clients may not fear death as much as they fear needing years of expensive care that drains their life savings.
Advisors can help clients prepare for this possibility by discussing long-term care insurance, healthcare funding strategies and potential lifestyle adjustments that could reduce future expenses.

Fear: A market crash at the wrong time

Market declines have always occurred, and many retirees understand that withdrawing assets during a downturn can significantly affect the longevity of their portfolios.
Having an appropriate cash reserve can help clients avoid selling investments at depressed values during difficult markets. The goal is not to predict every correction but to prepare for them.

Helping clients replace fear with confidence

While financial advisors cannot eliminate uncertainty, they can help clients create a plan for navigating it.
When clients understand how their retirement income, healthcare needs and investment strategy fit together, uncertainty often feels less overwhelming. The result is greater confidence and peace of mind — something every client values.

12/08/2026

As the cost of living increases year on year..Ten ways to ensure your pension doesn’t fall short in retirement!

It has never been more important to ensure that your pension doesn’t fall short in retirement. The recent cost-of-living crisis highlighted the impact that inflation can have on the retirement income of pensioners – with a survey by the charity Alone[1] finding that three in four older people had found their standard of living affected by high inflation. Furthermore, over half of those over 50 years of age plan to continue working on in retirement – either in a full-time or part-time capacity, with financial considerations emerging as a key reason for doing so, according to recent research by the Retirement Planning Council of Ireland[2].

It can be difficult to assess how much income you will need in retirement, how long your pension will last and indeed how adequate your pension will be. However ultimately, you should be aiming to save enough into your pension to fund the lifestyle you wish to have in retirement – and for as long as you are retired. Here are ten steps which can help you achieve that.

1. Get advice

Seek professional advice from a Financial Broker as early as possible – such an expert will help you calculate how much you will need to save in order to build up a sufficient pension pot and will provide information on the type of investments available. A broker or financial advisor will also help you put in place a tax-efficient and viable investment strategy which takes account of your own appetite for risk, as well as the investment returns you are hoping to achieve. When the time comes for you to retire, your broker or advisor will also help you to navigate the retirement paperwork and guide you on how best to use your pension savings throughout your retirement. Be sure that any advisor or broker you deal with is regulated by the Central Bank

2. Start saving for a pension as early as you can

Join your company pension scheme as soon as possible, or if you are self-employed or a company director, start paying into a pension policy as early as you can. The earlier you start, the greater your pension savings will be at retirement as you will benefit from the power of compound investment growth. With investment growth and compounding, the more and earlier you’ve contributed to your pension, the better chance you have of achieving the pension you would like to access in retirement. If your budget is tight, try to make room for a small initial pension contribution to get your pension savings started and this can be reviewed and increased over time as required. Remember, apart from your home, your pension is likely to be the next largest asset you will own – assuming you carefully plan and pay attention to it.

3. Find out exactly what is provided by your company pension scheme

If you are an employee with access to a company pension scheme, obtain all the information about it that you can – including how it works; what you will be entitled to from it at retirement; if you are required to contribute – and if so, at what level; and if – and how much – your employer contributes. It is also important to check what investment funds are used for your pension savings and to discuss all this information with your broker or adviser.

4. Match your employer’s pension contributions

If you’re lucky enough to be offered membership of a pension scheme where your employer will match your contributions up to certain levels, make sure you join as soon as possible and feasible. Doing so will allow you to take advantage of what is in effect additional income for you from the company. Not everyone has the benefit of employer contributions to their pension but those that do are likely to find it much easier to save up a reasonable pension pot by the time they retire.

5. Make the most of pension tax relief

Ensure you know how much tax relief you are entitled to on your pension contributions and contribute what you can afford. Pensions are a very tax efficient way of saving. You can claim back 20pc or 40pc of your pension contributions in tax relief, depending on the rate of tax you pay. The amount of pension tax relief you are eligible for will depend on your age and salary. Note: that there is a €115,000 cap on the maximum annual earnings that pensions tax relief on personal contributions can be claimed on. There is a €2 million limit on the overall value of your pension fund that you can get tax relief on.

6. Adjust your pension plan to your circumstances

As we progress through life and our career, our financial circumstances change – sometimes for the better and sometimes for the worse. In good times, your salary may increase or you may be entitled to a bonus – when this arises, you should always consider saving more into your pension.
In difficult times, you may need to consider reducing or pausing pension contributions – however, it is important that you revisit your pension policy as soon as possible when your financial circumstances improve as this will help you get your pension back on track. Don’t forget too that it is possible to make regular pension contributions to your plan and/or one-off contributions (subject to certain limits).

7. Keep track of all your pensions over the years

Over a long career with multiple employers, pension benefits can be forgotten about – or companies may be acquired. So, tracking a pension entitlement can become more difficult as the years pass. It is therefore important that you keep track of all the pensions you have contributed to over the years. Doing so will help ensure you get the maximum retirement income you are entitled to and that you don’t unnecessarily lose out on a pension you have saved into in the past.
Tracing pension entitlements from years ago can be a lengthy process and typically is done at the point of retirement when administration delays can cause a lot of frustration, as well as delays in accessing your retirement savings. To prevent yourself running into difficulties tracing any pensions you have, remember to keep all your pension documentation filed safely. Keep a record of the name of the administrator for each of the pension schemes you have paid into, as well as the administrator’s contact details, even if you are not transferring those pensions to an overseas scheme.
Also, be sure to inform the administrators when you change your address, so that they can contact you when the time approaches for your pension to be paid or if there have been any developments affecting your pension

8. Review your retirement plan throughout the years

Your expectations of – and hopes for – your pension could be very different in your 20s and 30s than in your 40s, 50s and 60s. It’s therefore important that you schedule regular reviews with your Financial Broker or advisor to make sure your retirement plan is on track to meet your retirement and post-retirement goals. These reviews are particularly important the closer you get to retirement, particularly within ten years of your retirement date.

9. Beware of inflation

Inflation effectively reduces how far our money will go and eats into our spending power. It is very important when investing for your pension to choose investments that are likely to outperform inflation over time – otherwise, inflation will ‘eat’ into your pension savings and returns. Your Financial Broker or advisor will be able to offer you guidance here. It is also a good idea to allow your pension contributions to increase to keep pace with the level of inflation.

10. Find out if you are entitled to the State pension

The State pension can provide a very valuable additional source of income in retirement if you qualify for it. So, check with Department of Social Protection if you are, or will be, entitled to receive any State pension when you retire. There are two types of State pension – the contributory State pension and the non-contributory one. It would also be worth checking your social insurance record to ensure it correctly reflects all the time you have spent in the workforce and all the social insurance contributions you have paid.

07/08/2026

How Long Could You Afford to Be Off Work ?

Most of us insure the things we own. Our homes, our cars and even our mobile phones are often protected against the unexpected. But what about the thing that pays for them all?
For most people, their ability to earn an income is their greatest financial asset, yet it's often one of the least protected. It's not a subject many of us like to think about, but illness or injury can happen at any stage of life. While some people are fortunate enough to receive generous sick pay from their employer, many find that their income reduces significantly after just a few weeks or months away from work.

Have You Ever Done the Maths?

Imagine you were unable to work for six months. Would your employer continue to pay your salary? If not, how would you cover:
• Your mortgage or rent?
• Household bills?
• Loan repayments?
• Childcare or education costs?
• Everyday living expenses?

Many people are surprised at how quickly their monthly commitments add up when they take a moment to calculate them.

What Support Is Available?
Ireland has a range of State supports for people who are unable to work due to illness, subject to eligibility criteria. For some households, these payments provide valuable assistance.
However, they may not replace the level of income many people rely on to maintain their current lifestyle and meet ongoing financial commitments.

That's why it's worth understanding not only what support may be available, but also whether it would be sufficient for your own circumstances.

Every Situation Is Different
There's no one-size-fits-all answer. Some employers provide comprehensive sick pay benefits, while others offer only limited cover. Some people have substantial savings to fall back on, while others rely almost entirely on their monthly income.
Your stage of life also plays a part. A young professional renting an apartment is likely to have different financial responsibilities than someone supporting a family or approaching retirement.

Taking time to understand your own position can help you plan with greater confidence.

Things to Think About
Ask yourself:
• How long would my employer continue to pay my salary if I couldn't work?
• Do I know what State supports I may be entitled to?
• How long could my savings cover my regular monthly expenses?
• Have my financial commitments changed since I last reviewed my protection arrangements?

These aren't questions that require immediate action, but they are worth considering before they're ever needed.
Financial planning isn't only about preparing for retirement or growing your savings. It's also about considering how you and your family would cope if life didn't go entirely to plan.
If it's been some time since you reviewed your protection arrangements, or if you've never looked at them in detail, we'd be happy to talk through your current position. A review isn't about making unnecessary changes; it's simply an opportunity to understand your options and decide whether your existing arrangements still meet your needs.

Kevin O'Neill

30/07/2026

Financial Myth of the Quarter..

'I Have a Pension, Therefore I'll Be Fine in Retirement."

It’s one of the most common assumptions in financial planning and it's easy to understand why. After all, if you've been paying into a pension for years, surely you're on track for a comfortable retirement?

The reality is that having a pension is an excellent start, but on its own it doesn't necessarily tell you whether you're saving enough to support the lifestyle you hope to enjoy in retirement.

A Pension Is a Vehicle, not a Destination

Think of a pension like a car. Simply owning one doesn't tell you how far it will take you. That depends on a range of factors, including how much fuel is in the tank, how far you're travelling and how efficiently the journey is planned.

A pension works in a similar way. The value of your retirement fund will depend on factors such as:

How much you've contributed over the years.
How long you've been saving.
Investment performance over time.
The charges applied to your pension.
How and when you choose to retire.
No two pensions are exactly alike, even if two people have similar salaries.

Retirement Looks Different for Everyone

When people picture retirement, their expectations vary enormously. Some hope to travel extensively. Others plan to spend more time with family, pursue hobbies or simply enjoy a slower pace of life. Those choices all have financial implications.

A pension that comfortably supports one person's retirement may not provide enough for someone with very different plans. That's why retirement planning isn't simply about asking, "Do I have a pension?" It's also about asking, "Will it help me achieve the retirement I want?"

Don't Forget Inflation

Another important consideration is the cost of living. Over a retirement that could last 20 or 30 years, everyday expenses are unlikely to stay the same. While no one can predict future inflation, it's worth remembering that the spending power of money can change significantly over time. What feels like a comfortable income today may not stretch as far in the future.

Building this into retirement planning can help create a more realistic picture of what may be needed.

The Good News

The reassuring news is that many people are in a stronger position than they realise.

You may have:

More than one pension from previous employers.
Additional retirement savings.
Valuable tax relief available on future pension contributions.
More time until retirement than you think.
Equally, if there is a gap between your current savings and your retirement goals, identifying it early gives you more options. In many cases, relatively small changes made over a number of years can have a meaningful impact.

Myth Busted

Myth: "I have a pension, therefore I'll be fine in retirement."

Reality: Having a pension is an important first step, but understanding whether it's likely to support the retirement you want is equally important. The amount you've saved, how it's invested, your retirement plans and how long your money may need to last all play a part.

Something to Think About

Rather than simply asking yourself whether you have a pension, consider asking a different question:

"Do I know what my pension is likely to provide when I retire?"

For many people, the answer isn't immediately obvious and that's perfectly normal.

If you're unsure how your current pension fits into your longer-term retirement plans, we're always happy to have a conversation. Sometimes the most valuable outcome isn't making changes, it's simply gaining a clearer understanding of where you stand and whether you're on track to meet your retirement goals.

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