"People work hard for their money, and I like to put that money to good use for them"
Jackie McQuillan
Financial Advisor

Have you been disappointed of late with the lack of interest being paid on your savings and investments in your local credit union or bank in Ireland? Many credit unions and banks throughout the country are now sitting on large deposits of cash which have quadrupled since the pandemic. Some Credit Unions have had to notify their members that they have to cap their savings accounts meaning that member can now only save up to a maximum amount often times €10,000 or €15,000 or €20,000.

We at Key Financials specialize in savings and investments advice for our customers and we can offer you some very real alternatives for your hard earned cash because people work hard for their money and we like to put that money to good work for them.

We are not tied agents which means that we are not linked to one life assurance company, we can do business with all the main life assurance companies in the Irish market, such as Zurich Life, Aviva, Standard Life, New Ireland, Irish Life and we strive through them to get you the best possible savings and investment returns.

Money sitting on deposit making no interest is not keeping in line with inflation. Quite simply, your €1,000 euros worth of goods and services today will cost you more in two year’s time for the same goods and services. So one way to combat a negative interest rate environment for your savings and investments is to put your money to work and save through the life assurance companies here in Ireland. Each life assurance company have their own experienced fund managers who oversee and manage their companies fund range through portfolios of managed funds geared toward the low risk, medium risk or high risk investor to get the most return for your savings and investments. You can opt to save regular amounts or invest a lump sum, your monthly or lump sum contributions buy units in each fund and we are happy to discuss what type of fund would be best for you.

Our products are generally intended as medium-to-longer term investments (5-7 years plus) and with time on your side and compound interest we strive to help get you decent returns. We also have easy access savings products which are a very attractive feature meaning that there are no penalties to you for early withdrawals from your easy access savings plans.

Example: A family saving their children’s allowance of €140 per month since birth at 6% interest can over a period of 18 years turn that sum into €51,921.50. If you decided to save that same amount in the credit union or the bank over the same period with no interest available that will net you €140 x 12 x 18 = €30,240. The Credit Unions and Banks will charge you 41% dirt tax on any growth. Whereas 41% exit tax is applicable on any growth currently through the Life Assurance companies. However, on the plus side you the investor are still earning practically 60% of the growth.

Therefore, if you have a lot of cash sitting on deposit making no interest then it is perhaps time to consider our services here at Key Financials because we like nothing more than putting your hard earned cash to work. We will also meet you annually to review your plan and we are always available via phone or email in the interim. You can rest assured knowing that everything will be taken care of by our team of professionals who are experts in this field. Call us today on 049 432 6841 and we can help you grow your wealth!

We at Key Financials are the key to your financial peace of mind