Sarah is a 45-year-old woman who has recently become concerned about her financial future, particularly in terms of retirement planning. Despite having a stable job with google in Dublin as a contactor for the past 20 years, she has never contributed to a pension plan and has limited knowledge about retirement savings options.
- Age: 45
- Employment: Google contractor
- Financial Assets: She has some savings in a regular savings account. However, she has no dedicated retirement savings.
- Debt: Sarah has a manageable mortgage on her home and no outstanding high-interest debts.
- Goals: Sarah is worried about her financial security in retirement and wants to make up for the lost time in saving for her pension.
- Late Start: Sarah has not started saving for retirement until now, which puts her at a significant disadvantage in terms of compound interest and long-term growth.
- Lack of Knowledge: She is unfamiliar with pension options, investment strategies, and retirement planning in general.
- Develop a Retirement Plan: Sarah needs a tailored retirement plan that will help her catch up on her retirement savings through a PRSA or executive pension.
- Educate on Pension Options: Sarah needs to understand different pension options available to her and select the most suitable one based on her circumstances.
- Investment Strategy: Develop an investment strategy that aligns with her risk tolerance and long-term goals.