And, since you've said that you're 'not particularly financially literate', your advisor should also be able to challenge your preferences by balancing your stated desire for low risk investment options with the ultimate outcome you want to achieve.
For example, if you have a 20 year time horizon then you will need to be mindful of inflation (@2.5% p.a) which can erode the purchasing power a fund by 39% over 20 years.
Over 30 years it would be 52% which means that a low risk investment option may not be the best thing for you to do long term.
Kevin
www.thepensionstore.ie
My partner and I would both like to start PRSAs this year. Can anybody advise us on what are the most important questions to ask pension providers when they are trying to sell you one of their products? We are not particularly financially literate so would like something low-risk and low-maintenance, but obviously don't want to get ripped off by excessive charges/commissions either.
Any advice much appreciated, thanks.
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