News – Page 3 – Curran Delaney Financial Services

BE POSITIVE !

In these difficult times of soaring inflation, interest rate hikes and volatility on financial markets effecting pension and investment funds, it’s all too easy to get caught up in headlines and to forget about businesses. Some of the stats surrounding everyday companies, when you actually sit back and think about them, are nothing short of incredible. For example, Dollar General, the largest discount retailer in the US, opens 3 new stores every day. Think of the logistics and execution required to make that work. 3 new stores a day ….. BE POSITIVE !

Source: Dollar General SEC Filings

17 June 2022/0 Comments/by Geoff Curran

News

ECB Announces Interest Rate Hike!

From July, 2022, the ECB will increase interest rates by 0.25%, in order to try and combat current hyper inflation. However, this initial increase will have little or no impact on rising prices. It will certainly take further rate hikes over 2022 & into 2023 to slow down the rate of inflation.

What should I do with my mortgage?

If you are on a variable mortgage or coming to the end of a fixed rate term, it could be worth your while to contact your lender to consider switching to a fixed rate mortgage, as there will be a further rate hike in September of probably, 0.5%, with further rate hikes in the fourth quarter of 2022 and into 2023.

Our advice …. ACT NOW!

10 June 2022/0 Comments/by Geoff Curran

News

Pensions & Retirement, but there’s more!

Prior to Covid, semiconductors were a relatively unknown industry in the context of everyday conversation. Covid-induced shortages and the knock-on impact that a lack of semiconductors have had in the supply of pretty much everything has shone a bright light on this once under-the-radar industry.

Some of the statistics surrounding the semiconductor industry are absolutely fascinating. For example, a modern chip factory costs $10-20 billion to build and takes 3-4 years to complete. These facilities are equipped with automated systems that allow companies to operate 24 hours a day, 7 days a week, 365 days a year. However, once a facility is up and running, it still takes 3 months on average to make a single chip given that the industry relies on tens of thousands of global suppliers for key inputs.

Billions of dollars in capital investment, high and continuous R&D requirements, almost unfathomable complexity, and we think you would be forgiven for being shocked that the average selling price of a semiconductor is a mere $0.48 (that’s 48 cents, not 48 dollars!).

Semiconductors are essential components in pretty much all electrical goods. These chips may cost next to nothing in isolation, but the absence of a 48 cent piece of silicon means the final product cannot be sold. Semiconductors are a great illustration of a small but incredibly important part of a bigger thing.

Data Source: Bank of America “Semiconductor Primer 2022” & Goodbody Asset Management

3 June 2022/0 Comments/by Geoff Curran

News

Volatility and My Pension – Don’t Panic!

Financial Markets have been very volatile due to high energy prices, war in Ukraine, soaring inflation, cost of production and the threat of higher interest rates. So, how does this effect your pension and your retirement plans?

It very much depends upon when you wish to retire. If you plan to retire in 2022 or 2023, you should ensure that your pension fund is in low risk assets with just a small exposure to risky assets such as equities. However, if you have some years to go before retirement you will most likely have enough time to recover from the recent falls and make gains in the value of your fund on the back of increasing market values.

Talk to us today about your retirement plans, pensions, investing and making the most of tax free investing.

25 May 2022/0 Comments/by Geoff Curran

News

Have you moved Job?

Did you have a company pension plan with your past employer? If so, you can transfer it into your own name. With our advice you can start planning for your future retirement. Remember, when you stop working without a pension plan, you will receive a considerable drop in income as the State Pension is less than €13k per annum!

11 May 2022/0 Comments/by Geoff Curran

News

CENTRAL BANK IMPLEMENTS NEW INSURANCE REGULATIONS

The Central Bank of Ireland has today published the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Insurance Requirements) Regulations 2022 which will apply to insurance undertakings and insurance intermediaries from 1 July 2022.

A ban on price walking in insurance in the motor and home insurance market will come into effect from 1 July 2022. This means that, from 1 July, insurance providers cannot charge relevant renewing customers a premium that is higher than they would have charged an equivalent year one consumer renewing their policy. However, to support competition and switching, new customer discounts will be allowed.

In addition, insurance undertakings and insurance intermediaries will be required to carry out an annual review of motor and home insurance pricing policies and processes to ensure sound practices.

The Regulations set out the information that must now be provided to consumers in advance of the automatic renewal of an insurance policy, including the right to cancellation. This is another measure to encourage consumers to consider the potential benefits of switching and to increase consumer awareness of the options available to them at renewal time.

Commenting on the new regulations, Director General of the Central Bank, Derville Rowland said, “Financial services providers are responsible for providing products that meet their customers’ needs fairly. We have consistently stated that we will intervene where we have reason to believe that unfair practices are occurring that take advantage of consumer behaviours and habits and we will prioritise the interests of consumers over the behaviours and conduct in firms.”

She added, “These new Regulations will significantly enhance the consumer protection framework. This will benefit consumers by removing the loyalty penalty for consumers of long tenure while preserving competition in the market.”

Source: https://www.businessworld.ie/financial-news/Central-Bank-implements-new-insurance-regulations–575440.html
Written by Robert McHugh, on 17th Mar 2022. Posted in Financial

6 April 2022/0 Comments/by fiachra