What are you saving for? The importance of setting financial goals

It is important that we identify our financial goals early and put an efficient plan in place to achieving these goals. Otherwise, we could end up spending when we should be saving, or when we do decide to save, we may not put the money to work as efficiently as we could!

Typical Saving or Investment goals you may wish to address:

• You may want to put your surplus cash away so you have the means to put your children through school / university in the future.
  
  

  • Are you aware of the likely costs of putting your child (or children) through university? By 2020, we estimate that it could cost approx. EUR35,000 on average to put a child through 4 years of third level education*, which means you should put a plan in place now for these significant costs (*source: Ark Life Sept. 2007)

• You may want to reach a point in the not too distant future, where you can stop work for good and have enough money to maintain the quality of life you have become accustomed to.
  
  

  • Have you spoken to an adviser to see if you are saving enough for the retirement you deserve? Are you making the most of the Government tax breaks on pension contributions that can nearly double what you are saving & get you there much quicker?

• Many of us come into some money due to an inheritance / sale of an asset (such as a property / business) and wish to put this money to work to preserve its value over the long term.
  
  

  • Have put your lump sum to work, so that it has the opportunity to grow as you would like?

• All of us should put money aside to build up an emergency fund, but all too often we realise this when it is too late!
• We all like to live in the now, which means we like to go on holiday and drive a nice car - both of which require savings, but are often are financed through costly short term debt!

There is an AIB Financial Adviser* in every branch nationwide who can work with you to identify the most appropriate mix of short, medium and long term vehicles to meet your savings and investment goals.

* In recent independent research, 95% of customers would recommend AIB's Financial Advisory service to a family member or friend

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