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Tim Jones supports ‘Shop Local’ with hamper giveaway

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WINNER: Linda Brennan, pictured with Tim Jones, has won the Tim Jones Family Butcher's Christmas hamper in association with the Killarney Advertiser.

 

Tim Jones Family Butchers has been operating in Killarney since 1991. Over the past number of years they have enjoyed modest growth and have expanded their business to two shops, one on Park Road, the other in the Innisfallen Mall. Tim supplies some of the finest restaurants, hotels and B&Bs in the Kerry region and when COVID-19 hit in March this side of the business was hit hard.

“Yes, it’s been a trying year for us, especially on that side of things, but it has been difficult for everyone in business and there’s no point getting down about it, we just put an extra focus on trying to support our loyal customers, ensuring they continue to get great quality meat at affordable prices,” Tim told the Killarney Advertiser.

Tim wanted to help ease the financial stress that comes with the festive season and came up with a novel idea to help customers spread the cost of their Christmas dinner.

“We went about setting up a system in-shop whereby the customer can fill out a Christmas order form. It’s very easy; they write down their details, tick off their selection of meat and away they go. Our customers have the option of paying up front or weekly in either shop. It’s great, the customers just pop in each week and pay off a small amount, by the time Christmas comes around we are all square and they are calling to collect a monster Christmas meat hamper. There is a bit of extra admin on our end but the reaction has been fantastic and customers really appreciate that kind of thing."

Tim Jones is well-known for his support of local sports clubs and other events in town and was delighted to get involved in The Killarney Advertiser's 'Shop Local' campaign. “It’s a great idea and it’s a bit of fun, shoppers are hopefully getting close to collecting all four coloured vouchers now and best of luck to them all in the big draw next week."

Thanks to Tim Jones Family Butchers and the Killarney Advertiser, Christmas has come early for one lucky family. Linda Brennan (pictured below) won our Facebook competition last week which was run to celebrate the launch of the campaign. Speaking to the Killarney Advertiser she said, “I have five men at home, my husband Andy and four sons, Arron (19), Darragh (16), Cian (13) and nine-year-old Luke, even they will have a job of getting through this amount of meat." Included in the hamper was a fresh turkey, half a green ham, a roast loin of pork joint, 2lb of sausages, 1lb of sausage meat, one black and white pudding, 1lb of rashers, a dozen eggs, and a 5kg bag of potatoes. Handing over the prize to Linda, Tim Jones said "it’s great the hamper was won by a big family because our hampers are jam packed this year, and as I often say to our customers – better to be looking at it rather than for it".

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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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