Elder Intro 01 Lifestage considerations 01
deirdre@allskills.ie | 05 Jul 26
As we have reached the third stage of our lives, there are considerations where we are less focused on accumulation and more on maximising the resources that we've already gathered. Maybe considering what's needed for the next generation and making sure that we are well catered for in retirement, perhaps ill health, perhaps wider good and other considerations for later life.
- We may be less focused on earned income and more on passive income.
- Our spending may reduce because we have fewer dependents.
- We may be offered borrowing but we need to consider very carefully whether that's appropriate at this stage of life.
- Saving and investing is still relevant if we're planning to live a nice long life.
- Protection from frauds and scams becomes more and more critical.
In addition we have the context of maybe planning our exit, whereby we are thinking in terms of transferring assets for the next generation or to philanthropic bodies, whatever floats our boat. We are focused on doing this in the most tax-efficient way possible so that the assets we worked very hard to accumulate are not then diminished when they are handed over to the next generation.