THE GLOSS X Goodbody Investment Club event on January 12 focuses on inheritance and tax planning …
Happy New Year to our Investment Club members. Activity in our Fantasy Share Portfolio Competition is continuing apace and our investors are becoming more confident with all aspects of trading – including experiences of volatility, which is all part of the investment journey.
The purpose of the Investment Club is not only to help women become good investors but also to encourage everyone to invest in their overall financial education. We highlighted pensions and retirement last month and next we will cover the critical area of inheritance planning.
People ask more and more about how to efficiently pass wealth to the next generation, yet few take concrete steps to do so. To preserve as much wealth as possible within families, a little forethought and planning can go a long way to providing vital income for future generations as well as peace of mind. We don’t like to talk about death so we put off the conversation with loved ones. That can lead to many problems down the line including fractious familial relationships and nobody wants that.
Whether you are giving or receiving an inheritance, there are a few simple things to do that lead to better outcomes for everyone. The first is to make a will and keep it up to date. Secondly, transparent communication is vital – being open with everyone involved. Transparency around what is happening reduces misunderstandings. Finally, learn if there are any tax-efficient strategies that you and your family can employ to ease any potential transfer.
Catriona Coady, Head of Tax, Goodbody
Join us on Wednesday January 12 at 7.30pm when Catriona Coady, Head of Tax at Goodbody, will share the options available to families when it comes to transferring wealth from one generation to the next with minimum conflict and maximum preservation.
We will also be reviewing our Fantasy Share Portfolio Competition, checking out the leaderboard and getting some great trading tips for 2022. Of course, there will also be lots of lovely glossy spot prizes for attendees on the night.
FIVE NEW YEAR RESOLUTIONS TO GET YOU FINANCIALLY FIT:
1. Always have some level of savings or an emergency fund
2. Put surplus cash to work
3. Avoid concentration risk – all your eggs should not be in one basket
4. Know the tax impact of giving and receiving gifts and inheritances
5. As wealth accumulates, make a will
WHAT HAPPENS NEXT?
Once you sign up you will receive an email with a link to access the Fantasy Share Portfolio platform along with a demo video and a user guide. We’ll be in touch before our virtual event on Wednesday January 12 and will send you a Zoom link to join us. Please note registration for the January 12 event closes at 12 noon that day.
THE NEXT EVENT: WHAT TO EXPECT
-Laura DeVoy, Investment Director, Niamh O’Leary, Investment Analyst, and Sarah Quirke, Co-Head of Investment Solutions, will shed light on the world of tech stocks and look in depth at three trending companies in this sector.
-Catriona Coady, Head of Tax, Goodbody, will explain how to best approach the subject of inheritance and smart tax planning.
-Arlene McIntyre, Ventura, on how to make sensible splurges and savings to make the most of that key asset, the home.
-The Fantasy Share Portfolio Competition: The Goodbody team will share observations and suggest strategies for building a winning portfolio. We will also look at portfolio performance, and award prizes. You have to be in to win: Spot prizes can only be presented to those in attendance.
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