Your Financial Planners in Cork
Your Financial Planners in Cork Is your money working for you and giving you the best return? At MBC Financial Cork Limited, we will help you make an informed decision, and how can you grow your wealth and achieve your financial goals through financial planning.
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What is Financial Planning?
At MBC Financial, we understand that everyone has unique aspirations and dreams for their future. Financial planning is about helping you achieve those goals through careful savings and investments. It could be a dream vacation, your children’s education, or securing your retirement. We also recognize the importance of having a safety net for unexpected expenses.
Our goal is to work with you to create a personalised financial plan that meets your specific needs and aspirations. We believe that everyone can benefit from professional guidance, and studies have shown that seeking financial advice can have a significant impact on your financial well-being. Let us help you navigate your financial journey with compassion and expertise. Here are some of the ways we can help you
We understand that money matters can be tough to talk about. But avoiding financial planning can leave you in a vulnerable position.
Creating a solid financial plan and committing to it can help you feel more secure and reduce stress. As you see your plan taking shape, it can also boost your confidence in your financial future. Let us help you take the first step towards financial peace of mind.
Planning for the Present – Cash flow planning
To plan for the present, it’s important to do a cash flow analysis by listing all income and expenses, and see if the budget balances. MBC Financial will help you examine your current financial situation, including your assets, resources, liabilities, and expenses. Read More.
Financial Goals
Set your financial goals and write them down. Determine the time and amount needed to reach them. MBC Financial provides services such as saving and investments, college education fund, wealth management, retirement and pension planning, and estate tax planning. Read More.
Planning for the unexpected
Plan ahead for unexpected expenses to maintain a sense of security. MBC Financial offers Life Cover, Income Protection, and Illness cover to protect against unexpected financial losses. Read More.
Planning your Financial Future
MBC Financial will help you identify your savings and investment goals, prepare a plan to achieve them, advise you on where to invest your money, and consider your risk tolerance, financial capability, and circumstances. Read More.
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Planning for the Present – Cash flow planning
One of the problems with finances is that people tend to spend money as fast as they can make it as they deal with their bills and expenses and they rarely have time to look at their incoming finances and their outgoing finances except maybe to check their bank balance. Financial planning is the process of preparing for the future by taking into account all of one’s assets and debts.
The first step is to create a budget or do a cash flow analysis. This is done by listing all of one’s income and expenses and noting any extra money in savings. The next step is to see if the budget balances. If the budget does not balance, the next step is to figure out where the deficit is and how to fix it.
Examining your current financial situation
With your MBC Financial Cork advisor we’ll look at your current financial situation with you and see what financial assets and resources do you have. We’ll look at what are your wages/salaries, rental income and existing investments, what savings do you have and are they on deposit? Putting your money on deposit is not an attractive option if making your money grow substantially is your main aim.
Let’s take deposit savers in Ireland today, Irish households have 100 million euro on deposit today with a base interest rate of zero percent. We’ll look at your cash flow and liabilities. We’ll look at the likes of rent or mortgage payments, loan repayments, pension contributions. Are you paying too much out on loans, do you have too much bad debt?
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Planning your Financial Future – Financial Goals
What do you want now and in the future? These financial goals are often things like saving more, traveling, and buying a house. These goals should be written down in order to make sure that they are being met.
Once you’ve set your financial goals you’ll need to examine what is needed to attain these goals including the amount needed but also the time to reach them. How many years before that anniversary trip? When will the kids be going to college? What age do you want to retire and how much do you want to have on your retirement and weekly once you do retire. Based on this we can look at the various services we provide. They are:
- Saving and Investments
- College Education Fund
- Wealth Management
- Retirement and Pension Planning
- Estate Tax Planning
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Planning for the unexpected
Life is full of surprises, and as many people know, many surprises are expensive. Planning ahead for these unexpected costs is the best way to maintain a sense of security. For some people, paying for these “surprises” is not a problem because they have money, but not everyone is in this position. For those with little to no savings, developing a financial plan is even more important in order to avoid going into debt. Like having a rainy day fund, we will advise you to plan for the unexpected things life can bring such as medical expenses, a decrease or full loss of income or the unexpected death of you or a loved one. Our Life Cover, Income Protection, Illness cover are designed to ensure you are protected from these losses.
Forms of cover
- Life and Serious Illness Cover
- Income Protection Cover
- Business Protection Cover
Planning your Financial Future
Now that you know your current financial state, MBC Financial Cork will help you identify your savings and investment goals. We’ll prepare a plan to achieve your goals. We can look at ways of streamlining your current situation by cutting down or removing unnecessary expenses, removing bad debt or leveraging the assets you already have.
We will talk you through and agree recommendations with you. We’ll advise you where is best to invest your money and we’ll review your investments regularly. So what else does MBC Financial consider? We will also consider when you want to access your savings, how comfortable you are with taking any risk with your money, your financial capability to take risk, and your broader financial circumstances.
Financial Planning Cork
You’re now in the hands of an expert. MBC Financial is the best source for savings and investment advice, with access to the widest choice of providers and products. We act in your best interests only. You meet the same person every year, and recommendations are based on achieving your goals. So ask yourself, can you afford not to get advice for your savings and investments. So call us today.
- Why do we need a financial plan? What will a financial planner help me with?
A financial plan will individualise and prioritise your objectives. A Financial Planner in consultation with you can put an individualised tailored plan together with regard to what are your priorities. So whether that is life cover, savings, whether that’s investments or whether it’s pensions. Then we tailor the plan to suit your individual needs. When the plan is then agreed, we then implement it by putting a product in place with one of the insurance companies. Then it becomes reviewed on an ongoing basis, whether that’s a six monthly basis or 12 monthly basis.
- How often should I review my Financial Plan
Each client is different. Some only want to review once a year or someone wants to do it twice a year. So that’s an individual thing.
- Are financial planners worth it?
Yes, financial planners are worth it.
In terms of what we offer, we offer the experience, we also have access to all of the major investment and insurance companies in Ireland so we are completely independent and impartial. In terms of the advice piece, the setting up piece and in terms of the ongoing advice piece, this is where as financial planners, we help the client. We are not the cheapest in the market on what we do, but we don’t sell ourselves on being the cheapest in the market. You pay for services because we have the expertise. For clients we have the backup, we have the ongoing consultations, we have the ongoing reviews and that’s what you pay a financial planner for.
- Are there different types of Financial Planning? Or is it different goals?
Yes, different goals for different individuals. So financial planning for one person could be getting a mortgage. For the next person it could be a pension, for another it could be savings, the next person it could be a life policy for their family. So in terms of financial planning, they’re the products of financial planning, there could be other types of financial planning with regard to say, cash flow modelling. So somebody might want to know how much they need to put into their pension in order to get what they’re looking for at retirement. Another person might have a couple of houses and if they sell them in a couple years time, how much would that pay down their mortgage.
There is the whole cash flow modelling from a financial planning piece, but in MBC financial, we encompass all areas of financial planning. So whether that is retirement planning, investment planning, savings, cash flow modelling, we actually encompass so we’ve a one stop shop, tailor made plan, but it’s all individualised for the particular person sitting in front of us.
- What are the fees involved in financial planning?
There’s two types of fees in financial planning. The first fee would be an advice piece whereby we’re just providing you with advice and recommendations and you just take away the plan that we would put together and then you would implement the plan yourself. So we would charge a fee of 250 euros an hour to put that plan together for you to go away and implement that yourself. The second way that we get paid would be via commission from an insurance or investment company. So if we put a plan together for yourself and we would recommend one or two products in order for you to achieve your goals from the plan, the insurance company will then pay us for placing the business with them.
- Who are the best financial planners? What does a good financial planner do?
A good financial planner listens to their clients. This is listening in terms of what the client wants, what the client needs, and then prioritising those needs. A good financial planner will always listen to their clients with regard to their future plans and put a plan in place that is flexible for the client so that if circumstances or life events happen, then the plan can change and adapt to these needs. And then we’ll review it on an ongoing basis
As an example, if somebody lost their job, or they needed access to part of their investment for some emergency or so on, you have to have the plan to be flexible in order to just allow for those unforeseen circumstances.
Contact Alan and Team for a no-obligation consultation. The first meeting is at our expense. Read our client testimonials to see what people think about our work.
Testimonial from Deirdre Collins, Managing Director, Colso Cold Storage Limited. Since we started working with MBC Financial we have found that the obvious confusion that is so often associated with pensions and business protection has been removed. We are now able to make informed decisions very easily and have an excellent working relationship with them.
Deirdre Collins, Managing Director, Colso Cold Storage Limited.