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Pensions and retirement planning can still be taboo topics inside and outside the office. Many people are afraid to broach the topics with their coworkers, and unfortunately, many of us might have grown up in a household where it was an “adult conversation” that we were left out of. This might all leave you feeling concerned, overwhelmed and in the dark.

At Rockwell, we want to give you the right advice to make the right plan, whether you’re a business owner or an employee.


Don’t make your business your pension 

Many business owners find it easy to say they will rely on their business as their pensions. They put their time and working effort into it, so why not rely on it for retirement? Because it is unpredictable. For years, business owners have told us here at Rockwell that their business is their pension, and we have always advocated that it is too risky. Until March 2020, when the Covid-19 pandemic closed so many businesses, in many cases permanently, it was difficult for many founders and owners to imagine an unpredictable situation that wiped out their business in such a serious way. We now have a very real and prominent way to share with customers how unforeseen a setback can be.

The best way to overcome this is to regularly commit a percentage of profits and incomes to an accumulative fund through a direct debit. Your business can still be your pension but this protects your future funding.

Not starting soon enough or starting too late

The retirement age in Ireland is 66 and is set to rise further over the next decade. With this information at hand, it can be easy to assume that it is too early to start saving for your retirement. False. In reality, the sooner you start, the better. Because the longer you save, the more you can accumulate.

A helpful way to do this is to make your money work for you. From early in your career, it is a good idea to use any momentary bonuses you earn as a foundation to build your retirement fund. Understandably, you may want to set some money aside for some discretionary spending in the near future. But, it is valuable to consider contributing some of these financial incentives to your pension. When you receive a pay rise, we recommend increasing your weekly or monthly contributions accordingly.

As said, it is never too early to start saving. However, the latter applies too: it is never too late. Maybe you are in the prime of your career, head of your department, or you have just landed your dream job after years of hard work; suddenly, you might be regretting all the times you had an extra bit of cash in your bank account in your 20s when you were not thinking about squirrelling some away. Fear not; it does not have to be daunting to face your imminent future with the thought of “what now?”. We recommend that you get in touch with one of our expert financial advisors, simply fill out a contact form and select “Retirement Planning” as your area of interest.


Believing misconceptions

A common misconception about retirement planning or pension plans is that you only need to consider yourself and that your wants and needs will remain the same. At Rockwell, we believe it is important to imagine the bigger picture of your family and future. Maybe you will have grandchildren to spoil, want to help your children put a downpayment on a mortgage, or want to buy the car of your dreams and go travelling with your spouse. Whatever your plans, your financial situation shouldn’t stop you.

Why not arrange a consultation today to set up your optimized pension plan with Rockwell through email at or call us on +353 1 296 6120.

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