Barry Walsh, a seasoned financial advisor with over 13 years of experience in helping clients across Ireland plan for retirement, shares his comprehensive guide to securing your financial future.
Through his practice at Barry Walsh Financial Services Limited in Waterford, he has guided countless individuals through the complexities of pension planning.
The Reality of State Pensions
“The current State pension of €230.30 per week (€11,976 annually) is simply not enough for most people to maintain their desired lifestyle in retirement,” explains Walsh.
Through his years of experience working with clients across Waterford and beyond, he emphasises that this basic amount needs significant supplementation through private pension planning.
Starting Your Pension Journey
Early Career Planning
Drawing from his extensive experience, Walsh consistently observes that those who start early benefit the most. His approach focuses on:
- Making pension contributions manageable and sustainable
- Maximising employer contributions where available
- Taking advantage of tax relief at your marginal rate
Understanding Your Options
Barry Walsh Financial Services Limited works with eleven different companies, offering various pension solutions tailored to specific needs. These include:
- Personal pension plans
- PRSAs (Personal Retirement Savings Accounts)
- Company pension schemes
- Additional Voluntary Contributions (AVCs)
Regular Reviews Are Essential
Walsh emphasises to all his clients the importance of regular pension reviews. These reviews ensure pensions remain aligned with goals and adapt to changing circumstances. His team provides ongoing support and guidance throughout the pension journey.
The Forgotten Pension Problem
A concerning trend Walsh has noticed is that many people have forgotten pensions worth substantial sums. Currently, there are approximately €500 million in unclaimed pensions across Ireland. His team can help trace these using provider databases and ensure clients aren’t missing out on their entitled benefits.
Making Your Pension Work Harder
As someone who believes in removing financial jargon and making solutions simple, Walsh recommends:
- Regular contribution reviews
- Clear investment strategies
- Tax-efficient planning
- Professional guidance for major decisions
Expert Guidance Through Every Stage
Walsh’s approach to pension planning is comprehensive and client-focused. His team at Barry Walsh Financial Services Limited provides:
- Personalised pension strategies
- Regular portfolio reviews
- Clear, jargon-free advice
- Access to multiple pension providers
- Expert guidance on tax efficiency
“Did you know that the current State pension (contributory) is only €230.30* per week or €11,976 per year?” Walsh often reminds his clients. Through his practice, he has helped countless individuals create robust pension plans that provide peace of mind and financial security for their retirement years.
For personalised advice on pension planning, Barry Walsh and his team can be reached at their office in Parnell Street, Waterford. They ensure that retirement planning meets each client’s unique needs and circumstances.
A pension helpline has been set up free of charge by Barry Walsh Financial Services Limited, 13 Parnell Street, Waterford, for the Waterford Area and its hinterland.
The first consultation is completely free with no obligation.
To discuss your pension options with Barry Walsh Financial Services Limited, you can contact their Waterford office, where they provide sound advice and competitive professional service tailored to your specific situation.