Sarah’s Pension Dilemma


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.

Current Situation

  • 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.

Client Profile

Client name:


Financial Advisor:

Elevate Financial Services

Financial Goal:

Sarah is worried about her financial security in retirement and wants to make up for the lost time in saving for her pension.

Proposed Solutions

  • 1. Retirement Planning Consultation:

    • Sarah should meet with a financial advisor who specializes in retirement planning. They will assess her current financial situation, long-term goals, and risk tolerance to create a personalized retirement plan.

  • 2. Pension Options:

    • Educate Sarah about the various pension options available:
      • PRSA

  • 3. Investment Strategy

    • Based on Sarah’s risk tolerance and long-term goals, the financial advisor should recommend an investment strategy that balances risk and return.
    • Diversified investment in a mix of stocks, bonds, and other assets should be considered.

  • 4. Catch-Up

    • Sarah should consider making catch-up contributions to her pension plan to maximize her savings in the limited time before retirement.

  • 5. Regular Review:

    • The financial advisor should schedule regular reviews with Sarah to adjust her retirement plan as her financial situation and goals change over time.


Sarah’s late start in saving for retirement is a concern, but with the right guidance and a disciplined approach, she can still build a sufficient pension fund. The key is to seek professional advice, choose an appropriate pension plan, and diligently save and invest for her retirement. It’s never too late to start planning for a secure financial future.