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Location of second annual Dip in the Nip a closely guarded secret!

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Last year was its inaugural event - and it proved so empowering that organisers are inviting women to once again strip off for the second annual Dip in the Nip. 

It takes place next month, and due to the nature of the event - the location is a closely guarded secret. 

Organisers John and Michaela Edwards of Wild Water Adventures have said that it is set to be another great day and will once again raise substantial funds for cancer services in Kerry.

“As a local swimming business, we at Wild Water Adventures deal with a lot of female swimmers, and we wanted to give something back to the community," John explained.

"We have a unique skill set and we have used that to run several charity events over the years. We came up with the idea of running a Dip in the Nip last year and we asked Recovery Haven if they would like to be our chosen charity."

Such was the success of the event with 170 participants, John and Michaela are now hoping that it will be even bigger and better this year.

“Following the success of last year’s event, we have asked Kerry Cancer Support Group to come on board as a beneficiary this year as well. We are hoping to build on that success and Dip in the Nip Kerry is now set to be an annual event. The feedback we received from last year's event was that women found it empowering and emotional, with ladies of all ages and walks of life taking part. We have an all-female support crew of guards, lifeguards, and marshals.”

The Dip will happen at dawn on September 3, and only those taking part will find out the location a few days beforehand.

It is fun, exciting, empowering, daunting, exhilarating, peaceful and mindful according to participants of previous events. Everyone is on their own journey and participating for their own reasons.

This year’s chosen charities are delighted to be part of this fun event and are urging women to sign up.
Breda Dyland from the Kerry Cancer Support Group said that they are very thankful to be chosen by Wild Water Adventures as a beneficiary for this year's Dip.

"We are really looking forward to what will be a unique and personal event. I want to thank Michaela, John and their volunteers for their hard work in organising the event and I hope that the ladies of Kerry and beyond come along and join us on the 3rd,” she said.

GETTING INVOLVED

Recovery Haven too is delighted to once again be part of a hugely successful event.

“Having seen the success of last year’s event and the pure emotion and sense of solidarity experienced by all the women who took part, we are thrilled and honoured to once again be involved in such a wonderful event. We would encourage all women to give it a go, because it is something very special and something they will not regret. As the phrase goes: ‘Feel the fear and do it anyway,” said Marisa Reidy.

Dip in the Nip is open to all women aged 18 and over – including those who have experienced cancer themselves, those who are supporting a friend or family member on their cancer journey or those who want to remember and honour a loved one who they lost to the disease.

Registration, priced at €40 (+ booking fee), is now open through Eventbrite and everyone who signs up will receive a custom swimming cap, a medal to mark their participation and will be automatically entered into a draw for some great prizes. Pre-registration is vital, however, as entries cannot be processed on the morning of the event. Participants are also asked, if possible, to bring tea and cakes and make this a fun social event too.

See eventbright.ie: 'Dip in the Nip Kerry 2022 - Kerry's 2nd Dip in the Nip Charity Event' for more. 

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Housing Will Never Be The Same

Last week I wrote about the pathetic investment options out there for Irish investors. Despite high ongoing fees (mortgage, maintenance, insurance etc.) and the actual headache of being a landlord, […]

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Last week I wrote about the pathetic investment options out there for Irish investors.

Despite high ongoing fees (mortgage, maintenance, insurance etc.) and the actual headache of being a landlord, it’s easy to see why real estate functioned as the de facto investment portfolio for an entire generation.

Wealth creation was a rinse-and-repeat function where couples put money away until they had enough for the ‘next house’. As a result, we have an economy where 70% of household wealth is tied up in real estate.

Driven by the profits it created, Ireland became obsessed with owning real estate.

But real estate as an investment won’t be nearly as successful for our generation. (If you are able to get a house, that is)

All you have to do is look at the anecdotal evidence all around us to confirm this.

My parents bought the house they currently live in for 30k (pounds) 35 years ago. The house is now worth roughly 450k.

I typically despise these back-of-the-envelope calculations when It comes to property, given the endless variables and ongoing costs involved, but bear with me.

That’s a gross return of 15 times the original value. Now there are upgrades, a change in currency and other adjustments to consider here, so for argument’s sake, let’s call it 10X.

To achieve the same level of growth over the next 35 years, you would be left paying 4,500,000 euros for what is a pretty modest house.

Sure, we will still see property prices increase over time, but the rate of growth won’t be anywhere near as meaningful for one simple reason.

Interest rates.

Artificial Growth

Over the last 30 years, real economic growth has been stagnant, yet Ireland has experienced enviable nominal growth.

How did we manage it?

We created imaginary wealth.

We pushed interest rates lower and lower to stimulate economic growth.

And it worked.

After all, if you make 100k/year you can probably afford a 400k mortgage at 4%. At 2%, with the same 100k/year salary you can now take on 600k in debt.

So, were we getting richer, or was the debt just easier to afford?

Where do we go from here?

We have now squeezed interest rates as low as they can go.

The house price appreciation we have seen was justifiable because the mortgage rates on housing continued to fall in recent decades. This allowed people to take on more debt without severely impacting their ability to repay that debt.

If we go back to my parents, they were paying 14% on their mortgage. Mortgage rates are currently between 2 to 3%.

A relentless drop in interest rates gave way to higher and higher prices for houses, but interest rates are now on the floor.

The juice has been squeezed.

In fact, the trend has started to reverse, with rates expected to rise 1.5% in the first half of 2023

Be mindful that the same credit expansion cannot happen again.

How the next generation thinks about their investment options has to change.

Banks offering 0% returns for the use of your money and a housing ladder you can’t get on are not your only two options.

If you need help creating your own investment portfolio, just reach out to me at mike@theislandinvestor or simply scan the QR code above.

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Biddies performance celebrates St Brigid

Two local Biddies groups performed at Muckross House as part of St Brigid’s Day celebrations in aid of Kerry Parents and Friends Association. The Killarney Parents and Friends Biddy Group – formerly […]

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Two local Biddies groups performed at Muckross House as part of St Brigid’s Day celebrations in aid of Kerry Parents and Friends Association.

The Killarney Parents and Friends Biddy Group – formerly known as the Beaufort Biddy Group – and Kilgobnet Biddies came together for the event.

The tradition of the Biddies is one of the oldest and most colourful customs in Ireland, a blend of pagan and Christian pageantry, held on February 1 each year, heralding the beginning of springtime and honouring St Bríd the patron saint of the farming community.

Master traditional craftsman, Pat Broderick, at Muckross House, was also part of St Brigid’s Day celebrations, making a St Brigid’s Cross as part of the traditions.

 

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