On this week's Friday Personal Finance Friday Question we talk about how you can get back into work after a break.
 
Main points to know:

• Many people need to deal with returning to the workforce after a break at some point in their career. This can be due minding kids, looking after relatives, or bereavement. Although quite a normal thing, many people feel stressed returning to work.
• Update your CV, and create a LinkedIn profile (that is visible to recruiters).
• Have someone else spell and sense-check your CV and LinkedIn.
• Talk to recruiters. Your interests are often aligned, they give you an idea of the job market, and can help you get back to work. They can also prep your for interviews.
• Don’t go it alone. Use the resources available. (see below)
• Get started. Even the longest journey starts with a single step.

 
Helpful Resources:
Irish Times Women's Podcast - Ep 181 https://www.irishtimes.com/life-and-s... Women Returners Ireland Network http://wrpn.womenreturners.com/ireland/
 
*This is an early video for us. Our video skills and equipment improve with time, please be forgiving. We offer financial planning and education, the media stuff is a work in progress.
 
Watch this video on YouTube.
 
Watch this video on FaceBook.

This is a Personal Finance Friday question from one of our Financial Planning clients a few years into the workforce.
 
Pensions don’t have to be complicated so let us cover the basics.
 
Main points to know:

• If your company offers a match, take it. This is free money! You essentially give yourself a raise by doing this.
• If you can afford to put in up to the employer highest point on the match, do it.
• If you can afford to put money into your pension do.
• It is a tax efficient way to invest, and grow your wealth.
• It is a great tool for putting money aside for retirement when you probably no longer want to, or can no longer work.
  
• Time is on your side. The earlier you start your pension, the better chance you have of having a nicer time later in life. This is due to compounding growth.
  
• The later you start, you will have to put more in later.
• Start soon. If you are confused, talk to your company HR, or your friendly financial planner. (link to contact)
• You put money into your pension Pre-Tax. It grows Pre-Tax. You only pay tax when you tax it out years from now.
• If in doubt, start with a small contribution. You can always increase with time.

 
*This is an early video for us. Our video skills and equipment improve with time, please be forgiving. We offer financial planning and education, the media stuff is a work in progress.
 
Watch this video on YouTube.
 
Watch this video on FaceBook.

This is a Personal Finance Friday question from several of our Financial Planning clients.
 
A tracker mortgage (or tracker variable rate mortgage) is a mortgage where the interest rate is tied to a tracked rate, such as the E.C.B. rate plus a set amount.
 
If the E.C.B rate is 2%, and your set amount is +1%, you’ll pay 3% interest on your mortgage. Simple!
 
*This is an early video for us. Our video skills and equipment improve with time, please be forgiving. We offer financial planning and education, the media stuff is a work in progress.
 
Watch this video on YouTube.     
Watch this video on FaceBook.    

This is a Personal Finance Friday question from several of our Financial Planning clients.
 
So what is Bitcoin? And are you missing out if you don’t invest in it now?**
 
A currency has two key aspects:

1. Store of value. Does it hold value for the future?
2. Method of exchange. Can it be traded for goods and services?

 
Main points to know:

• Most cryptocurrencies do not meet these requirements.
• Does Bitcoin? Yes, no, and maybe.
  • You can use it as a value store, but it is highly volatile. If your country’s currency experiences high inflation or high volatility, Bitcoin may be better for you. However, if your currency is more stable, like Euro and Dollar, it is less reliable.
  • As a method of exchange, it technically can be used for this, but it is quite difficult and can be slow. As a day to day method of exchange it has room to go.
• Massive volatility. This is not money in the bank. It is more of an emotional and financial rollercoaster.
• If you are comfortable speculating – go ahead.
• There is no consumer protection. Unlike the normal banking system, if you get scammed, you are probably not getting your money back. (yet, some people in the space are pushing for regulation)
• Is it money you can lose? If you are investing money you cannot afford to lose, this is probably the wrong asset type for you.
• Be aware of the tax situation.
• Check out our “should I be investing video”. Do you meet the basic requirements set? Do you have savings, is your high interest debt paid, can you afford to lose the money, does the investment type meet your risk comfort?
• Know the risks. It can be okay to invest in Bitcoin and cryptocurrencies, but you could lose it all. Make sure you don’t over invest in this asset class. Diversify!

 
 
*This is an early video for us. Our video skills and equipment improve with time, please be forgiving. We offer financial planning and education, the media stuff is a work in progress.
**This video was released in early January 2018. This stuff is moving quickly.
 
Watch this video on YouTube.

Watch this video on FaceBook.

Before rushing into investing you should try cover the basics first:

• Set aside some savings into an emergency fund
• Manage your debt – don’t look at investing before you get rid of your higher interest debts (credit cards)
• Put money into your pension first – it is far more tax efficient. You invest tax free. You have it grow and earn income (which is reinvested) tax free. You only pay tax on drawdown, so there is loads of time to grow.
• Think about your current situation and how much risk you can take. If you have a safe job, job income, and savings; invest away.
• If your situation is riskier, you want your investments to be safe.

 
 
 www.facebook.com/MoneyBootCamp/videos/1730174333700515/
This is an early video for us. Our video skills and equipment improve with time, please be forgiving. We offer financial planning and education, the media stuff is a work in progress.

Watch this video on YouTube.
 
Watch this video on FaceBook.