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Doing Nothing is Not an Option

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‘If it ain’t broke, don’t fix it’…well, guess what… It’s broken.

Things have changed significantly in the investment space in recent years, but for some reason, most people haven’t changed their approach.

You’ve heard it 100 times before - Interest rates are rising, inflation is everywhere, and bank deposit rates are close to 0%. Doing nothing with your money is no longer an option, yet it is the default position for so many.

During the 1980s, leaving your money in the bank was perfectly acceptable. Banks offered up to 15% on their savings accounts - Not a bad deal.

Diligently setting your money aside while it earned double-digit returns until such time as you could afford to buy your first home for a mere 30K was a pretty good deal all round.

But for some reason, people continue to do the exact same thing to this day despite the fact house prices are ten times higher, and bank deposits pay 100 times less.

The level of inertia here never ceases to amaze me.

Don’t Get Left Behind

When it comes to human behaviour, inertia is a powerful thing. People are inherently slow to change the way they have always done things.

We only ever change what is immediately and obviously damaging to use.

Unfortunately, the erosion of our wealth is discretely pervasive, so we often don’t realise what’s happening until it is too late. 0% return from your bank account seems manageable in the short run, but over longer periods, it has a truly profound effect on your future wealth.

To understand the longer-term effects of holding your money in the bank during an inflationary environment, consider the following example of the purchasing power of $10,000 in 1971, compared to today.

According to the Bureau of Labor Statistics consumer price index, prices in 2020 were more than 550% higher than prices in 1971. In other words, if you put $10,000 under your mattress in 1971, it would have the equivalent purchasing power of about $1,800 by today’s standards. Granted, there have been some large-scale inflation fluctuations over this period, but the compounding effects are no less apparent.

So, while zero returns on your money and higher inflation may seem manageable in the short term, they can have detrimental effects on your money over time.

The Game has Changed

Blindly doing the same thing the previous generation did in the hope of similar results is delusional.

There are people still trying to save more and more money in the bank just so they can afford to pay higher and higher prices, but the prices are going up faster than they can save. Saving 5k a year to buy that house that’s going up 10k a year? Sound familiar?

You need to tie your income to these rising asset prices if you have any hope of escaping the vicious savings loop in the long run.

Unfortunately, this is the reality for our generation. Ignoring it will ensure you are left behind.

What worked for your parents isn’t going to work for you. The onus is on you to create an investment plan that will put your money to work and tie your future wealth to assets that will increase in price over time.

Stop naively putting all your money in the bank, hoping that ‘it will all work out’. It doesn’t work like that anymore.

I have spent the last few weeks writing a guide to creating and managing your own investment portfolio. To receive a copy, sign up for my newsletter by scanning the QR code above or go to www.theislandinvestor.com.

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Rotary Club’s Wine & Art Night raises €25,000

The Killarney Rotary Club’s annual Wine & Art Night, held before Christmas, was another resounding success, raising a grand total of €25,000 for local community projects. President Ciara Irwin Foley […]

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The Killarney Rotary Club’s annual Wine & Art Night, held before Christmas, was another resounding success, raising a grand total of €25,000 for local community projects.

President Ciara Irwin Foley expressed the club’s delight with the amount raised, thanking club members and everyone who contributed to this impressive sum. She highlighted that this popular annual event directly supports vital local initiatives such as schools, clubs, and charities in the Killarney area.

Ms. Irwin Foley extended particular thanks to the event’s long-standing key sponsors: Daly’s SuperValu, Killarney Brewing & Distilling Co, and Killarney Credit Union, acknowledging their crucial and consistent support over the years. The team at The Great Southern Killarney was also thanked for ensuring the smooth running of the event. Appreciation was also given to the businesses that sponsored door prizes and competitions, including The Rose Hotel, M.D. O’Shea’s, CRL, and The Lake Hotel, as well as to Mike Neeson for providing entertainment.

The Wine & Art Night provides a valuable platform for local artists and craftspeople, with up to fifty showcasing their work. Some artists have been involved since the event’s inception, making it a wonderful networking opportunity. There is always significant interest from artists to participate in this worthwhile cause, with a percentage of their sales donated on the night. Many also generously donate their artwork for the auction, where 100% of the proceeds go directly to the beneficiary fund.

The beneficiaries themselves play an active role by selling tickets for the event in advance, using this as a key fundraising method for their own projects. The schools, clubs, organisations, and charities involved put in tremendous effort, and it is always inspiring to hear how the funds raised have positively impacted them. For example, the Hospice sells their Christmas cards at the event, and the Irish Pilgrimage Trust sells raffle tickets to help bring local people to Lourdes at Easter.

Organising the Wine & Art Night is a significant undertaking for the Killarney Rotary Club, with extensive preparations happening well in advance. Many individuals contribute their time and effort, with numerous volunteers ensuring everything runs smoothly on the night. It is this collective effort that makes the event such a success.

The €25,000 raised this year has been distributed to the following deserving beneficiaries: Faha N.S., Fossa N.S., Gaelscoil Faithleann, Knockanes N.S., Loreto N.S., Loughquittane N.S., St. Brendan’s (Sem), Hospice, Irish Pilgrimage Trust, Kerry Stars Club, Killarney Athletic, and Killarney Valley AC.
The Killarney Rotary Club is already looking forward to hosting their next Wine & Art Night at the end of November.

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Kerry Jobs Fair to connects job seekers and employers

Job seekers and employers in Kerry will have a chance to meet at the Kerry Jobs Fair 2025 on May 20, at the Rose Hotel in Tralee. Over 30 companies […]

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Job seekers and employers in Kerry will have a chance to meet at the Kerry Jobs Fair 2025 on May 20, at the Rose Hotel in Tralee.

Over 30 companies from the county will be there, offering hundreds of job openings across different sectors.
The free event is organised by NEWKD Local Development Company, in partnership with The Rose Hotel and Tralee Chamber Alliance. Anyone interested can attend by registering on the day.
People looking for work can explore opportunities in areas like office administration, IT, accounting, finance, hospitality, manufacturing, food production, and retail.
The event aims to link job seekers and employers with useful information and support related to employment.
Alongside employer stands, there will be a careers clinic offering help with CV writing, interview skills, and information on training and career development.
There will also be workshops for both employees and employers about employing people who are not Irish citizens.
Robert Carey, NEWKD SICAP Programme Manager, said that bringing together many employers, services, and speakers will give job seekers a great chance to talk directly to potential employers, join workshops on career progression, and learn about employment schemes like Tús, CE, and WPEP. He added that employers will get to meet job seekers face-to-face and get information on employing people from abroad, which is important for business growth.
Efforts are being made to help Ukrainian refugees and those seeking international protection attend the fair, with information provided beforehand and interpreters available on the day. NEWKD, as part of the Kerry Community Response Forum, highlights that employment is key for refugees integrating into the community.
During the event, employers can learn about the specifics of employing migrants, get answers to common questions, and raise any concerns. A workshop for employers will be led by Frank O`Boyle from the Irish Refugee Council.
In addition to the job fair, there will be information sessions for all visitors on topics such as CV preparation (led by Sean Connell, HR at NEWKD), interview skills (presented by Lydia Oboryna from the Open Door Initiative), employment law for migrants, accessing the labour market for those with temporary protection, and entrepreneurship workshops on starting a business and finding funding.
The Newkd Kerry Jobs Fair 2025 is supported by the Rose Hotel and the Tralee Chamber Alliance, with funding from the SICAP programme, which is funded by the Department of Rural and Community Development and the Local Community Development Committee (LCDC).

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