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In Episode 12 of the Ask About Wealth podcast, we confront a subject most prefer to avoid: planning for life’s certainties, including the inevitability of death.
Paul delves into the often-overlooked complexities surrounding retirement funds, inheritance, and succession planning. Joined once again by Aidan McLoughlin, CEO of ITC and author of Pensions, Revenue, Law and Practice, they explore the critical need for proactive estate and pension planning.
This episode unpacks:
The tax implications of passing on pension assets.The importance of writing a letter of wishes for pension trustees.Differences in pension treatment for children under and over 21.Real-life examples of unexpected complications in succession planning.Why making a will and revisiting it regularly is vital.Whether you’re a high-income earner managing significant assets or just starting your financial planning journey, this episode is a must-listen. Aidan and Paul provide actionable insights to ensure your assets are distributed according to your wishes and that your loved ones are well-protected.
Tune in to learn how thoughtful planning today can prevent challenges tomorrow.
🇮🇪 Helping high earners preserve and grow wealth.
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In this episode of the Ask About Wealth podcast, we dive into one of the largest financial decisions most people make, buying a home.
Paul is joined by industry expert Michael to explore how high-income earners in Ireland can maximise their opportunities in the property market. Whether you’re buying your first home, switching for better rates, or investing in property, this episode will equip you with the tools to make smarter financial decisions.
We discuss:
Is Property Still a Good Investment? Michael shares his seasoned perspective on the Irish property market.The True Cost of a Mortgage: Why comparing lenders can save you tens of thousands over the life of your loan.Switching Lenders: How much can you really save, and is the process worth the effort?Equity Release: Creative uses for equity, from helping children with home deposits to funding unique life goals like surrogacy or education.Market Trends: What the arrival of new lenders like Revolut and others means for mortgage rates and competition in Ireland.The link mentioned in the episode:
https://www.askaboutwealth.ie/mortgage-interest
🇮🇪 Helping high earners preserve and grow wealth.
📱 Book a 1-1 consultation
📖 Read the book
🎙️ Listen to the pod
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With the 2025 budget fresh in everyone’s minds, we explore how new tax regulations impact high-income earners, including key adjustments to pension contributions and the increased standard fund threshold. We dive into how these changes could affect long-term wealth accumulation and offer insights for those navigating Ireland’s tax landscape.
Key Highlights:
Budget 2025 Recap: Unpacking the finance bill’s influence on pension contributions
Myth-Busting Property Investment: Does property investment always leads to significant returns?
Mortgages and Financial Freedom: Should you pay off your mortgage early?
Tune in as we discuss how high-income earners can achieve financial security while minimizing tax obligations in a challenging fiscal environment.
🇮🇪 Helping high earners preserve and grow wealth.
📱 Book a 1-1 consultation
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The Good, the Bad, and the Ugly of Ireland’s Latest Budget for High-Income Earners
In this episode of Ask About Wealth, we dive deep into the details of Budget 2025, analyzing its real impact on Ireland’s high-income earners. From the slight tax reliefs to unexpected increases in stamp duty.
Key Highlights:
Discover why high-income earners will still pay the bulk of the nation’s tax, despite relief measures.Learn about changes in retirement fund legislation.Explore how increased stamp duty affects high-value property owners and what it means for future property purchases.Get insights into the expanded Employment Investment Incentive Scheme (EIS) for high earners looking to invest in startups while getting significant tax relief.This episode is packed with insights into how Budget 2025 affects your bottom line.
🇮🇪 Helping high earners preserve and grow wealth.
📱 Book a 1-1 consultation
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In this episode of Ask About Wealth, Paul Overy sits down with Simon Thompson, Certified Financial Planner and co-founder of Accumulus to explore how strategic financial planning can help you achieve financial freedom.
Episode Highlights:
Holistic Approach: Learn how financial planners focus on the client’s overall goals rather than pushing specific products, ensuring that all financial decisions align with the client’s long-term objectives.Fee Transparency: Understand the importance of fee-based planning, where the client pays for impartial advice rather than commissions tied to specific products.Client-Centered Planning: Simon explains how financial planners work to uncover what clients truly want to achieve.Addressing Financial Fear: Learn how financial planners help clients overcome the fear and inertia that often prevent them from making sound financial decisions.Join Paul and Simon in this insightful conversation about the real value of financial planning and how it can transform your financial future. Whether you’re curious about how a financial planner can help or looking to refine your current financial strategy, this episode is packed with valuable insights.
🇮🇪 Helping high earners preserve and grow wealth.
📱 Book a 1-1 consultation
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In this episode of Ask About Wealth, we're joined by Aidan McLoughlin to explore innovative pension solutions that could help you maximise your retirement savings. Discover how relocating your pension to Malta can unlock significant financial benefits, reduce tax burdens, and provide greater flexibility than traditional Irish pension schemes.
Key Benefits for Listeners:
Understand Pension Structures: Learn the differences between various pension types, including state, occupational, and personal pensions, and how they impact your retirement planning.Maximise Your Pension Fund: Discover how transferring your pension to Malta can remove caps on fund size, increase tax-free lump sums, and offer more control over income drawdowns.Secure Your Investments: Find out how self-administered pension structures provide enhanced security, investment flexibility, and protection from potential risks.Episode Highlights:
The Malta Advantage: Aidan explains how moving your pension to Malta allows you to bypass Irish restrictions, potentially increasing your retirement pot over time.Investment Flexibility: Explore the vast range of investment options available through self-administered pensions, including property, equities, and other assets.Lower Costs, Higher Returns: Learn about the cost structure of transferring pensions to Malta, which offers a competitive fee model that can save you money compared to traditional pension providers.Tune in to this insightful discussion with Aidan McLoughlin to learn how strategic pension planning and innovative international solutions can significantly boost your retirement savings.
🇮🇪 Helping high earners preserve and grow wealth.
📱 Book a 1-1 consultation
📖 Read the book
🎙️ Listen to the pod
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https://linktr.ee/askaboutwealth
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In this episode of Ask About Wealth, we discuss a powerful strategy for company owners to extract funds from their business without paying tax, focusing on the benefits of Executive Retirement Funds. If you're a business owner or aspiring to own a limited company, this episode offers crucial insights into how to legally transfer money into your personal wealth with minimal tax implications.
Key Benefits for Listeners:
Maximize Wealth Accumulation: Learn how to move significant funds from your company to your personal name without paying any tax.Tax-Efficient Contributions: Discover how these retirement funds allow you to write off contributions against corporation tax, effectively having the state cover part of your contribution.Protected Growth: Understand how these investments can offer superior returns compared to traditional salary withdrawals.Episode Highlights:
Access to Funds: We can have access to retirement funds from age 50 onwards, providing flexibility and control over your money.Investment Freedom: Learn about the vast range of investment options available within private retirement fundsFuture-Proofing Your Retirement: Explore the potential to move to other EU jurisdictions for even better tax treatment down the line.The right financial strategy can make a significant difference in how much wealth you retain from your business efforts. Take control of your financial future, reduce tax liabilities, and safeguard your accumulated wealth.
Tune in to Ask About Wealth now and learn how to keep more of your money working for you!
🇮🇪 Helping high earners preserve and grow wealth.
📱 Book a 1-1 consultation
📖 Read the book
🎙️ Listen to the pod
✉️ Join the newsletter
https://linktr.ee/askaboutwealth
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In this episode of Ask About Wealth, Paul Overy dives into the different business structures available in Ireland, with a focus on helping current and aspiring business owners make informed decisions. Whether you're a sole trader, part of a partnership, or considering setting up a limited company, understanding the implications of each structure on your wealth and liability is crucial.
Key Benefits for Listeners:
Risk and Liability: Learn why sole traderships put all your personal assets at risk and how limited companies offer superior protection.Tax Efficiency: Discover how limited companies pay less tax, allowing you to keep more of your earnings and reinvest in your business.Retirement and Entrepreneurial Relief: Understand the significant tax concessions available to owners of limited companies.Episode Highlights:
Sole Tradership vs. Limited Company: Explore the pros and cons of each structure, with a focus on risk management and wealth protection.Partnership Pitfalls: Learn about the additional liabilities that come with partnerships, including joint and several responsibility.The Accountant's Role: Why it’s essential to get written advice when considering a switch to a limited company.Paul emphasizes the importance of choosing the right business structure to protect your wealth, reduce personal risk, and optimize tax benefits. By the end of this episode, you'll have a clear understanding of why a limited company might be the best choice for your business.
🇮🇪 Helping high earners preserve and grow wealth.
📱 Book a 1-1 consultation
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How to make smarter financial decisions in the face of inflation. By the end of this episode, you'll have a clearer understanding of how to protect and grow your wealth in an inflationary environment.
Episode Highlights:
Inflation’s Erosion of Wealth: Explore how a 3% annual inflation rate can erode up to 45% of your wealth over 20 years.Investment Insights: Learn why stock markets typically outperform inflation while cash deposits do not.Salary and Inflation: Understand how inflation affects your income, and why getting a raise that matches inflation simply maintains, rather than increases, your purchasing power.Key Benefits for Listeners:
Understanding Inflation's Impact: Learn how inflation affects the real value of your wealth and income, with practical examples and statistics.Investment Strategies: Discover which asset classes historically outperform inflation and which ones to avoid if wealth accumulation is your goal.Real vs. Nominal Returns: Understand why the real return, net of tax and inflation, matters when evaluating your investments.Tune in to Ask About Wealth now and start taking control of your financial future!
🇮🇪 Helping high earners preserve and grow wealth.
📱 Book a 1-1 consultation
📖 Read the book
🎙️ Listen to the pod
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https://linktr.ee/askaboutwealth
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In this episode of Ask About Wealth, we explore how you can legally minimise your tax burden and keep more of your hard-earned wealth. While taxation may seem inevitable, Paul reveals why it's a modern concept and how you can navigate it to your advantage.
Key Benefits for Listeners:
Tax Rights: Learn your right to pay as little tax as legally possible and how to exercise it.Case Studies: Discover real-life examples, like a Monaghan egg farmer’s experience with tax planning gone wrong.Financial Planners vs. Accountants: Understand why a financial planner is crucial for tax efficiency.Proactive Tax Planning: The importance of planning now to reduce future tax liabilities.Episode Highlights:
History of Taxation: A look at the origins of income tax.Avoiding Aggressive Tax Avoidance: How to stay on the right side of tax laws.Achieving Financial Freedom: How tax efficiency can help you reach your financial goals.Join Paul as he equips you with the tools to make smarter financial decisions and secure your financial future.
Tune in to Ask About Wealth now and take control of your tax situation!
🇮🇪 Helping high earners preserve and grow wealth.
📱 Book a 1-1 consultation
📖 Read the book
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https://linktr.ee/askaboutwealth
Hosted on Acast. See acast.com/privacy for more information.
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In this episode of Ask About Wealth, we delve deep into the intricacies of inheritance tax in Ireland. Whether you're in line to receive a substantial inheritance or planning to leave a legacy for your children, this episode is packed with essential insights that can help you minimise your tax liabilities and maximise the wealth passed on to the next generation.
Understand Inheritance Tax Thresholds: Learn about the current tax-free thresholds and the 33% tax rate on amounts above €335,000.Historical Perspective: Gain insights into how inheritance tax has evolved over the past two decades.Practical Tax Reduction Strategies: Discover multiple legitimate ways to reduce inheritance tax liabilities, including agricultural relief, business assets relief, and the use of trust funds.Case Studies and Real-Life Examples: Hear real-life scenarios and consultations that illustrate how these strategies can be applied effectively.Episode Highlights:
Agricultural Relief Explained: Paul discusses a consultation with a client owning a €2 million farm and how to qualify for agricultural relief to significantly reduce tax.Grandchildren's Tax-Free Threshold: Learn how leaving assets directly to grandchildren can save thousands in taxes.Trust Funds for Young Beneficiaries: Understand how trust funds can help manage and protect assets for younger beneficiaries.Art and Exempt Assets: Discover how certain assets like art on public display can be exempt from inheritance tax.Succession Planning Case Study: A story about a client who restructured his will to save his children €300,000 in taxes.Take your first step towards smarter inheritance planning!
🇮🇪 Helping high earners preserve and grow wealth.
📱 Book a 1-1 consultation
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With 40 years of experience at the top of the financial industry in Ireland, Paul pulls back the curtain to provide you with the information you need to succeed. In this episode we delve into the 4 big issues that make the Irish financial landscape so difficult for high income earners in Ireland and how we can best overcome each of them to build long term wealth. Problems such as a unique in-build bias (product selling), isolated advice, overpaying tax and lack of a financial plan.
🇮🇪 Helping high earners preserve and grow wealth.
📱 Book a 1-1 consultation
📖 Read the book
✉️ Join the newsletter
https://linktr.ee/askaboutwealth
Hosted on Acast. See acast.com/privacy for more information.
