Pensions, Planning, and Investing for your Future in Ireland with Marc Westlake (Part 2)

I'm thrilled to have Marc Westlake, a seasoned Chartered Financial Planner and the Managing Director at Everlake, join us once again for a vital discussion that picks up right where we left off.

In Part Two of our conversation, Marc shares valuable insights into maximizing your pension benefits, the art of diversification, and how to be financially savvy globally and in Ireland. Whether you're contemplating the move, have recently relocated, or are looking to optimize your existing arrangements, Marc's expertise will help you secure your financial future.

From understanding the bedrock of pensions in Ireland to strategic moves that could save you and your family plenty of money, Marc breaks down complex financial planning into actionable advice. Moreover, we explore the potential of pensions not just as a retirement fund but as a tool for achieving financial independence and flexibility much earlier in life.

Remember, financial wisdom isn't just about accumulating wealth; it's about making informed choices that align with your life goals and values.

Main Topics discussed in this Episode:

• An overview of how retirement provision works, including basic subsistence protection through social security and the benefits of the Irish and UK state pensions.
• Strategies for enhancing pension benefits, including voluntary contributions to top up UK state pensions and eligibility for claiming both Irish and UK state pensions.
• Discussion on accessing pensions at an early age for financial benefits, such as paying off mortgages, and the concept of pensions not just being for old age.
• The process and considerations for transferring pensions, especially from the UK to Ireland, and the importance of planning before making international moves.
• The pitfalls of not diversifying investments and common financial mistakes expatriates make when moving to Ireland.
• Advocating for professional financial advice to navigate complex financial landscapes and make informed decisions that align with personal values and lifestyle goals.

T​his episode is Part 2 of my conversation with Marc - if you haven't listened yet, check out Part 1 from two weeks ago. I​f you're interested in engaging Marc in his services, get in touch via the Everlake website (https://everlake.ie/​).

​If you loved this episode or have a similar story, we'd love to hear from you! You can get in touch with us directly at [email protected] or leave a rating and review on Apple Podcasts or Spotify.

Taxbytes for Expats is brought to you by ExpatTaxes.ie. If you're considering moving to or from Ireland and would like support with your taxes, book a consultation today: https://expattaxes.ie/services-and-pricing/.

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