An insightful afternoon discussing financial and fashion planning through the decades …
Special guests of THE GLOSS and Goodbody, including members of THE GLOSS | Goodbody Investment Club, gathered at Castlemartyr Resort on May 6 to celebrate this year’s forward-thinking theme of Make Every Decade Count.
After a reception of wine and canapés, guests were invited into Terre restaurant to enjoy a menu especially created for the intimate lunch by chef Lewis Barker, where MC Ciara Doherty introduced the expert panel: Catriona Coady, Head of Tax at Goodbody, and Órla Tobin, Head of Goodbody Private.
Catriona discussed tax, pensions and retirement decisions, and why planning in decades can help to anticipate how some of these chapters can be planned for. “When it comes to decades thinking, you should look at tax with a longterm horizon that combines with financial planning. Tax changes all the time, so when you’re creating your longterm plan take it into consideration. You don’t have to have it control every financial decision you make, but you should certainly be very mindful of it.”
On retirement, she pointed out that many of us have different pensions from different jobs, but haven’t taken the time to assess when or how they will pay out. “It’s a really useful exercise to do because you can very quickly see if you have enough to enable you to live how you’d like to live when it comes time to retire.”
Her overriding message is to do that financial health check, even if you think you have things covered because there’s always more you can do to protect against the unforeseen. “My one piece of advice is to look after our own affairs. We’re often too busy taking care of everyone else, but we need to look after ourselves too. Put yourself first.”
Órla said; “For me, decade thinking is about looking forward and simplifying your goals. Ten years is a long time and it gives you time to plan. Ask yourself what you need to do in the next ten years to get you where you want to be. Invest In You is about women finding the financial confidence at any age for where they want to go.”
She highlighted the fact that life happens and isn’t linear, so it’s important to remember that it’s never too late to plan ahead for the unforeseen as you don’t know what’s around the corner. “Women are more than capable of looking after all the finances. When women invest, we actually make more than men. People often ask about clearing their mortgage after a windfall or if they should invest that money? Your mortgage is the cheapest credit that you’ll ever get. You can potentially earn more in investment, so my advice is to look at what you have and review it with someone who knows what they’re doing. It’s okay to ask for help and get someone to look beneath the bonnet with you. It’s also okay not to understand it all!”.
After questions for the panel from the audience, Ciara introduced guest speaker, fashion stylist Aoife Dunican who shared insights and tips for decade thinking in fashion. “We’re very different at every decade – emotionally and physically – and that’s not a bad thing. When I look back to my first job, I turned up in a pencil skirt with a briefcase as I wanted to look serious. Then I got to my 30s with kids and wanted to look sensible, so I adopted a dress to the knee approach.”
“After seven years out of the workplace, I went back to work in my 40s and wanted to look like I hadn’t left at all. The clothes on my back had my back, so I still felt confident. When I was entering my 50s, I wanted to feel relevant and visible.”
She explained that your signature look should evolve with time. “When I did my J1 in New York, I went home to Kilbeggan with a Liz Claiborne jacket with lots of gold buttons to show that I’d had a great summer and made lots of money. That started my love of separates, jeans and blazers. I’m true to that style today as I take an element that I love, be it jeans or jackets, and update them to a more modern shape.”
She believes that everyone’s capsule wardrobe should be different and base items should suit your lifestyle. “You have to do a wardrobe detox. To avoid the drama of a huge clear-out, you should constantly edit. Look for the weeds: something that’s tired or doesn’t fit. When you take out the pieces that no longer serve you, you can actually be excited by what’s left.”
At every table setting was a Rest & Restore giftset, featuring the Night Body Balm and a fragrant, calming pillow spray, by Cork’s own female-founded, award-winning Ground Wellbeing. Peigín Crowley‘s thoughtful, naturally beautiful oils, creams, balms and more are designed to encourage us to slow down and take care of ourselves, our face, body and mind. Ground’s luxurious, sensorial spa treatments are available in some of the best five-star hotels around the world, including The Rosewood and Six Senses, as well as all over Ireland.
Click into the gallery to see some of those in attendance:
Photographer: Diane Cusack