This week I flashback to a podcast from 2021! While it is a few years old its a common and important question.

Key takeaways

• How big your pension should be when you start drawing down income
• How big your pension should be at various stages of your life
• What you can do if it's not as big as you would like it to be!
• How to live 14.9% longer!

I hope it helps!

Disclaimer

In this week's podcast I chat with Dr. Daniel Crosby. He discusses the evolution of behavioral finance over the past eight years, reflecting on the growing acceptance and understanding of the field. He shares insights from his latest book, 'The Soul of Wealth,' emphasising the importance of health, happiness, and meaningful spending. The discussion also covers the role of community in financial behavior, the impact of delayed gratification, and the future of wealth management in an AI-driven world. Crosby highlights the necessity of practical applications in financial education and the importance of understanding one's relationship with money.

Dr. Daniel Crosby is a psychologist, author, behavioral finance expert and asset manager who applies his study of market psychology to everything from financial product design to security selection.

Key takeaways

• Behavioral finance has gained significant traction in the last eight years.
• Investors today are better educated and more disciplined than in the past.
• The focus of behavioral finance is shifting from avoiding mistakes to enhancing well-being.
• Health is a crucial component of wealth and happiness.
• Experiences often bring more joy than material possessions.
• Delayed gratification is a powerful tool for achieving long-term goals.
• Community and social connections enhance financial well-being.
• AI will play a significant role in the future of wealth management.
• Practical applications of financial wisdom are essential for real change.
• Creativity is vital for personal and professional growth.

I hope it helps!

The Soul of Wealth: 50 reflections on money and meaning

Daniel's Linkedin

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In this week's podcast #334 I take a look ARFs

If you google 'best ARF Fund in Ireland' today, you will get many results.

The first few are of course paid-for, sponsored adverts from firms who want your clicks (and are paying handsomely for them!). There are then quite a few other firms who have written about this 'best ARF fund in Ireland' topic.

This week I share a very short piece which shows the actual outcomes of a scenario where one invested in different funds, portfolios and companies over the past decade or more, and what we can learn from it.

And if anyone needs a reminder, an ARF is an Approved Retirement Fund. It is what happens to most of our personal pensions when we start drawing income from them, if we have not chosen an annuity pension. More on all this here if you want a refresh!

Disclaimer

In this week's episode, I explore crucial financial planning lessons for Irish families, highlighting examples where small oversights led to significant tax bills.

Discover how one family's misunderstanding of Ireland's Dwelling House Exemption resulted in an unexpected €77,000 tax liability, and how another family's mismanagement of the Small Gift Exemption cost them over €65,000.

Learn essential strategies for gifting, saving, and inheritance planning, and understand why precise adherence to tax regulations, supported by expert advice, is key to safeguarding your family's financial legacy.

• Good intentions aren’t enough - strict compliance with Irish tax law is essential.

• Document and complete transactions properly - incomplete paperwork can lead to significant taxes.

• The Small Gift Exemption (€3,000 annually) must involve actual yearly transfers - accumulating gifts without documentation won't satisfy Revenue.

• Seek professional financial and legal advice early to avoid costly errors in wealth transfer and inheritance planning.

• Understand clearly defined tax exemptions like the Dwelling House Exemption - missing even one condition can result in major unexpected taxes.

Hope it helps!

Disclaimer

• Regulatory changes have ended executive one-member schemes, pushing attention toward PRSAs and Master Trusts.
• In 2023–2024, PRSAs allowed virtually unlimited employer contributions, making them highly attractive for late-stage funding.
• As of January 2025, employer contributions to PRSAs are capped at 100% of salary, significantly reducing flexibility.
• Master Trusts still allow actuarial-based contribution limits based on salary and years of service, offering an alternative path.
• PRSAs allow the full pension value to be inherited on death, while Master Trusts may require most of the fund to be used to purchase an annuity.
• Strategic planning around salary levels, timing, and long-term drawdown goals is now essential for maximising pension efficiency.

Hope it helps.

• Retirement is a transition, not a destination Gregg emphasises that retirement today is less about stopping work and more about reshaping purpose and lifestyle in your later years.
• Identity and purpose need planning too Many retirees struggle not financially, but psychologically. Planning for how you’ll stay engaged, socially connected, and purposeful is just as crucial as financial readiness.
• Partial retirement is rising Gregg discusses the growing trend of phased retirement and encore careers, where individuals continue to contribute professionally in more flexible, meaningful ways.
• Ireland’s demographic shift mirrors global trends The Irish workforce is aging, and like in the US, people are living longer and working differently. Gregg’s insights help contextualise these changes locally.
• Retirement success is holistic True retirement readiness includes emotional well-being, social networks, mental stimulation, and health - not just a pension fund or lump sum

I hope it helps!

Gregg's book - EXIT FROM WORK: What Will The New You Look Like? eBook : Lunceford, Gregg: Amazon.co.uk: Books

Gregg's book recommendation - Loaded: Money, Psychology, and How to Get Ahead without Leaving Your Values Behind

Disclaimer

In this week's podcast, 330, I take a look at Gillen Markets.

Gillen Markets have built a solid reputation as investment managers and advisors over the past decade and a half, led by founder Rory Gillen. They reportedly manage and advise on over €600m for c.500 families.

They made the headlines last week, having announced that they were selling their business to Quilter Cheviot, a UK and Irish based Discretionary fund manager, for an undisclosed sum.

As these things always do; it piqued interest in terms of the consolidation of yet another firm, but also in Gillen Markets own Gillen Market Fund (GM Fund).

So we are sharing a few thoughts on;

- Market consolidation going on in Ireland

- Analysis of the GM Fund itself (performance, allocation and fees)

I hope it helps.

Paddy

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