Make 2025 the Year You Take Control of Your Retirement Goals

As we step into a new year, many of us set resolutions to improve our lives. This year, why not focus on one of the most important aspects of your future: your retirement?

According to the recent Irish Retirement Living Standards report, less than half (42%) of older adults in Ireland feel financially prepared for retirement. This highlights the need for effective financial planning to ensure comfort and security in your later years.

The report outlines three levels of retirement living:

• Modest: Requires an annual income of €19,200 for singles or €28,800 for couples, covering essentials like housing, food, and utilities with limited capacity for discretionary spending.
• Moderate: Needs €27,600 for singles or €37,200 for couples, allowing for some flexibility, such as occasional dining out and short holidays.
• Comfortable: Calls for €33,600 for singles or €43,200 for couples, supporting a broader range of activities, higher quality goods, and regular holidays.

For many, these figures highlight the importance of supplementing the state pension with private savings or investments to achieve the desired standard of living in retirement.

Read the full report here: https://pensionscouncil.ie/wp-content/uploads/2024/12/Irish-Retirement-Living-Standards_2024.pdf

That’s where Synergy Credit Union’s Financial Planning Service comes in.

In partnership with Irish Life, we provide tailored advice to help you assess your current position and build a retirement plan that suits your needs and aspirations.

Why Start Now?

The start of a new year is the perfect time to review your financial goals. Whether you’re planning for modest comfort or aspiring to a more flexible lifestyle in retirement, Synergy Credit Union is here to help.

Make It a Resolution!

Kick off 2025 with a resolution that truly matters. Contact us today to learn more about our financial planning services. Visit our website at  https://synergycu.ie/services/financial-planning today to get started.

Plan today for a brighter tomorrow.

Who are Irish Life Financial Services and what do they do? 

Irish Life Financial Services is an insurance intermediary that can review your protection, retirement, savings and investment needs, and they offer a full financial review with one of their Qualified Financial Advisers. This can be done online or over the phone at a time and place that suits you, taking just 45-60 minutes of your time. There is no obligation to purchase and all information you provide is private and confidential.

Irish Life Financial Services is tied to Irish Life Assurance for life and pensions, so any products recommended by Irish Life Financial Services will be from Irish Life Assurance, one of Ireland’s leading life and pension providers.

Irish Life Financial Services Limited is regulated by the Central Bank of Ireland. Irish Life Assurance plc is regulated by the Central Bank of Ireland

Disclaimer:

The content provided in this blog is for informational purposes only and does not constitute financial advice, including but not limited to investment, tax, or retirement planning advice. While we strive to offer accurate and up-to-date information, Synergy Credit Union and the author are not financial advisors, and the insights shared here should not be construed as professional advice. The information provided is general in nature and may not be suitable for your specific financial circumstances. We strongly recommend consulting with a qualified financial advisor or pension specialist before making any financial decisions or changes to your pension plan. Synergy Credit Union assumes no responsibility for actions taken based on the information provided in this blog.