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Mother’s Day fundraiser planned for little sick girl

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FUNDRAISER: Tara O'Donoghue Laing, pictured with Killarney singer Grace Foley, who are organising a fundraising event for a sick little girl. Photo: Michelle Crean

 

By Michelle Crean

 

Two local ladies are pooling their talents together to help raise funds for a sick little girl suffering from Cerebral Palsy.

Photographer Tara O'Donoghue Laing from Firies has enlisted the help of Killarney singer Grace Foley, and arranged a special day out for families this March.

And, although the event, which includes a photoshoot, a three course meal and entertainment in The Brehon Hotel on Sunday, March 22, is a treat for families – it’s a hugely important day for little Heidi Patterson as funds raised with go towards vital physiotherapy.

Heidi was born in 2017 to Sinead and Steve Patterson, with a visual and hearing impediment and Cerebral Palsy.

 

 

 

 

 

Tara came to know the family after photographing the couple’s wedding in 2015.

And as her own son is one age with Heidi, Tara felt she wanted to help in some way.

“My son Dáithí is only a few months older than Heidi,” Tara told the Killarney Advertiser this week.

“I could really relate to how Sinead is going through this as a mom. I felt that surely we can make some bit of difference to relieve some of the financial difficulties. I’m hoping to raise €5,000 from the event which would cover physio for a year for Heidi. We wanted to use our own skills to give the most we can on the day.”

The event includes a raffle with lots of great prizes donated by local businesses, including dinner vouchers, spa treatments, hair and nail vouchers and even sports jerseys.

MC on the day will be former Kerry footballer Sean O’Sullivan. The family will also be there on the day, Tara added.

“Sinead will give a brief talk before the meal and Grace will sing a number of songs for the finale, including Heidi’s favourite song ‘True Colours’.”

Tickets at €45 per person are available from eventbright: Mother’s Day Fundraiser for Heidi.

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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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