1% Better S3,

Paddy Delaney – How to Make Informed Financial Decisions, Full Transparency & Making a Difference! EP102

April 02, 2019

Paddy is a Financial advisor & coach. His purpose is to share ideas and insights that might make a positive difference. He’s definitely doing this with his total honest and authentic approach.

Growing up Paddy worked in banks during summer holidays from school and always had a keen interest in managing his own finances, not always very effectively he adds!

He talks about his journey in this space over the last 15+ years, the last few out on his own. He is now enjoy coaching and enabling groups & individuals to achieve the things that are important to them. As a Qualified Advisor, Retirement Planner, Facilitator & Coach, he gets huge satisfaction from helping others to achieve.

Summary of the topics discussed are:

  • Always having an interest in Money & how to manage it
  • Finance was always a focus
  • Working in retail management
  • Love for working with people and numbers
  • 13 Years working for ‘the man’
  • Moving into Learning and Development in the space of Financial Services
  • Stepping out from a secure job just after the birth of their third child to go out on his own
  • The Psyche of Decision Making & struggling with making the ‘right’ choice
  • Becoming a qualified coach and learning more about myself
  • Holding himself accountable to make the move
  • The importance of the business plan
  • Cash Flow being key!
  • Prepare, prepare, prepare for any transition you want to do!
  • The Transparency Task Forceand Trust parameters – Ireland’s only ambassadors
  • Making people aware of different financial models
  • What is an ‘independent’ financial advisor?
  • Mixing EQ & IQ in the financial advice world
  • Working on Purpose & the why?
  • It’s not about the product’s, it’s about people’s lives
  • Getting the customer thinking what is their priorities?
  • Getting the Value and Benefit from the Products!

Rules to Follow in Financials:

  • Biggest Mistakes We’re Making with our finances?

#1. Get very clear on what your spending on – there is a big lack of awareness here!

  • Limited options for compound interest
  • Compound interest is only good over a long-term plan – 10-20-30 years!
  • Adding to as you go – Pension is an example
  • Saving regularly into an Equity Plan is key
  • Sticking to the Plan!!!
  • Buy when prices are low – this is the best time!
  • Long term benefits and merits of investing
  • Deposit account and Equity based bond
  • Since 1925 – Equity fund has delivered 11% on average every year!
  • What is the goal? Begin with the end in mind!
  • Set it and forget it investments
  • How Coaching skills have helped working with clients
  • Stocks & Shares and being prepared
  • Always coming back to the Goal – the plan or life event
  • Risk Management – Why are people reluctant to change?
  • Mortgage Markets – what’s going on there?
  • Spending on household bills – switching?
  • Entrepreneurial Relief – Tax benefits that might not be known
  • Transparency on Fees – this is key to deliver value to client
  • Following your own advice?
  • If you’re going through hell, keep going? – the value of coaching working on yourself
  • Standout Interview – EP100 with Guy Spear – Aqua Marine Fund – Superb Performance
  • Investments Advice – Low Risk Funds? Begin with the end in mind!
    • Eg: 5% per year – take out the fees, etc – what is left?

Book Recommendation:

Connect in with Paddy

Leadership Training:


Full Disclosure

This is for general information only and is not intended to provide specific investment or financial advice or recommendations for any individual. It is suggested that you consult your financial professional, or tax advisor with regard to your individual situation before taking any action! Obviously references to past performance are not intended to be forward looking and should not be viewed as an indication of future results. But you all this already!


 

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