Ask About Wealth
Ask About Wealth
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Financial Fitness: Building a Gym Empire in Ireland
In Episode 13 of the Ask About Wealth podcast, Paul welcomes Ger Conroy, founder of Ger Conroy Fitness, to discuss the financial realities of building a thriving business.
gerconroyfitness
From opening his first modest gym studio to managing multiple locations and an academy, Ger shares his journey of balancing passion for fitness with the challenges of managing and growing a business.
This episode focuses on the financial side of entrepreneurship, including:
- Starting out with limited funds and learning to reinvest profits.
- Transitioning from a sole trader to a limited company and the lessons learned along the way.
- Managing business growth during challenging economic times.
- The critical role of professional financial planning.
- Navigating taxation, understanding interest rates, and ensuring long-term financial stability.
Whether you're an aspiring entrepreneur or a seasoned business owner, this conversation provides invaluable insights into the financial hurdles and opportunities on the path to success.
🇮🇪 Helping high earners preserve and grow wealth.
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Переглядів: 629

Відео

Death, Taxes, Pensions and Your Inheritance
Переглядів 850Місяць тому
In Episode 12 of the Ask About Wealth podcast, we confront a subject most prefer to avoid: planning for life’s certainties, including the inevitability of death. Paul delves into the often-overlooked complexities surrounding retirement funds, inheritance, and succession planning. Joined once again by Aidan McLoughlin, CEO of ITC and author of Pensions, Revenue, Law and Practice, they explore th...
Financial Freedom and Tax Efficiency in Ireland
Переглядів 5 тис.Місяць тому
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Executive Retirement Funds to Secure Your Financial Future
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The Right Business Structure to Maximise Wealth | Sole Trader, Partnership or Company 🇮🇪
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How Inflation Erodes Your Wealth and What You Can Do About It
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Inheritance Tax in Ireland: Minimise Tax Liabilities and Maximise Your Legacy 🇮🇪
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How to Succeed in the Irish Financial System 🇮🇪
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How the Rich Make Money Investing #wealth #investing #finance #money #ireland
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How to Pay Less Inheritance Tax in Ireland
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КОМЕНТАРІ

  • @robcaseyire
    @robcaseyire День тому

    Why do you say youd end up losing 50% of a pension in taxes? Isnt the first 200k tax free, then 20% income tax after that? Assuming you dont draw down over €44k per year. What am i missing?

  • @ronanhunt88
    @ronanhunt88 3 дні тому

    These tips are awesome! I’ll have to book a session soon! Have thought of about 7/10 of the tips you’ve shared but I’d missed this one for selling my photography on the side!

  • @mcmeelpatrick
    @mcmeelpatrick 3 дні тому

    Does this include poetry?

  • @bitcoinpaul
    @bitcoinpaul 8 днів тому

    Iv just been hit with this on my bitcoin, didn't even know it existed, , i sold the bitcoin at a profit then brought back few days later with fresh money, my gains have now been added back to my cost basis, is there anything i can do about this?

  • @ianjackson88
    @ianjackson88 9 днів тому

    Excellent video guys, great to see something that is relevant to Irish tax payers. Interesting last point about emotions wrt to paying off mortgage.

    • @AskAboutWealth
      @AskAboutWealth 6 днів тому

      @@ianjackson88 thanks for the positive feedback Ian.

  • @steflift5165
    @steflift5165 13 днів тому

    Saving money has its limits, making money less so 😉

  • @iceman0071
    @iceman0071 13 днів тому

    Love all you videos there fantastic THANK YOU

  • @Anrirua
    @Anrirua 14 днів тому

    Well, that would be great except its based on the property and not you. Which means its universally available, ceteris paribus, and therefore is priced into the market already; such that hovels are being advertised at 200k down the country. Be that as it may, being priced in, it can't be left on the table or you'd be an awful gobdaw altogether.

  • @Frischvisch
    @Frischvisch 22 дні тому

    are we talking about the same etf or are you talking about the depot pension etf ? because etf are the same as stocks

  • @danmannix2889
    @danmannix2889 29 днів тому

    Basically the options open to business owners on all routes for tax avoidance is crazy vs paye workers.. seems very inequitable

  • @kurtschuster8078
    @kurtschuster8078 Місяць тому

    My mother lived abroad and left me a property. The greek notary is looking for a certificate that doesn't exist in Ireland. O the joys.

  • @MsPaulsgirl
    @MsPaulsgirl Місяць тому

    Very informative conversation. Could you cover self employed PRSA Pensions in relation to inheritance tax please?

  • @jamesbutler5701
    @jamesbutler5701 Місяць тому

    Excellent conversation

    • @AskAboutWealth
      @AskAboutWealth Місяць тому

      Thanks James, happy to hear you enjoyed it.

  • @mariaodonovan1748
    @mariaodonovan1748 Місяць тому

    Great podcast as always 👏

  • @MrMarkjp9
    @MrMarkjp9 Місяць тому

    Forget these penny's of return XRP / XLM and bitcoin

  • @MrMarkjp9
    @MrMarkjp9 Місяць тому

    Xrp

  • @Givemeabreak12
    @Givemeabreak12 Місяць тому

    Thanks you, this is exactly what I needed.

  • @Givemeabreak12
    @Givemeabreak12 Місяць тому

    Great work. Thanks for a very informative conversation 👌🏻

  • @puffinjuice
    @puffinjuice Місяць тому

    Or do some research

  • @qanon382
    @qanon382 Місяць тому

    My parents are dead so it's unlikely that the Revenu will take kindly if I Rock up with this scheme.However,I'm in need of financial advice not to mention spiritual guidance.Can you provide the former Sir?

  • @steeldoubloon19
    @steeldoubloon19 Місяць тому

    What do you think about using a perpertual interest only margin loan (through interactive brokers) in a CHF denomination at 1.5% to buy a CHF hedged s&p index on the SwissStoxx exchange in essense earning free money? I spoke to a financial advisory who said it's risky but as long as I don't default on debt it would effectively return free money...

  • @mariaodonovan1748
    @mariaodonovan1748 Місяць тому

    Love this podcast. Keep up the great work 👍

  • @latoyatangelo
    @latoyatangelo Місяць тому

    Once passed on it’s now their business. They can do whatever they want with it…including running it into the ground.

  • @gavindonohue942
    @gavindonohue942 Місяць тому

    Thanks Paul. Very informative. I will look for your book. Correct me if I’m wrong but I don’t see mention in the news headlines on a cap.

  • @luzbelsix6452
    @luzbelsix6452 Місяць тому

    What if they are abroad ?

  • @williet3978
    @williet3978 Місяць тому

    Finally, someone talking sensibly and coherently, well-done lads.

  • @amitgupta9232
    @amitgupta9232 Місяць тому

    Excellent Podcast.

  • @paulacollins5127
    @paulacollins5127 Місяць тому

    I decided to pay the kids this year because on paper we had made loads of money, the previousyear.. But in reality, we didn't have the cash so I couldn't do it 😅 hopefully I'll be better organised next year. It's brilliant to finally come across Irish advice. Well done

  • @gilleek2
    @gilleek2 Місяць тому

    If you sell after year 9 for example isn't the 41% deemed disposal amount deducted from your cap gains tax liability?

  • @brianaherne400
    @brianaherne400 Місяць тому

    Best financial advice I ever got was read "The creature from Jekyll Island" by G Edward Griffin.

  • @amitgupta9232
    @amitgupta9232 Місяць тому

    loved it

  • @YTPundit
    @YTPundit Місяць тому

    The DoF latest report recommended abolishing the deemed disposable tax. That obviously needs to be actioned by government. Separately, the whole point of investing in say an S&P 500 index fund is to make things simple for average investor i.e eliminate need to review & understand individual stocks that make these up. Yes, you could invest in the like of Nvidia and a few others but that is increasing your risk.

  • @Intellectual_Designs
    @Intellectual_Designs Місяць тому

    Ireland only, UK tax doesn't qualify.

  • @bartz4439
    @bartz4439 Місяць тому

    Why put hand on capital gains? Why it works only ONE WAY? If I loose all, will I get 33% back? No? How fair then that is?

  • @ErikBjers
    @ErikBjers Місяць тому

    So instead of giving me money I can use now to pay my bills you give me money I can't use until I retire... Hope my creditors will wait until I retire to get paid.

  • @andrewbutterly1566
    @andrewbutterly1566 Місяць тому

    Very good

  • @vinacar
    @vinacar Місяць тому

    well it sounds like you have people that work for you that dont eat sleep or breath

  • @noelk5415
    @noelk5415 Місяць тому

    Maybe most employees want PRSI paid

  • @mcmeelpatrick
    @mcmeelpatrick Місяць тому

    It is a public service you are providing. Brilliant brilliant man. Thank you.

  • @gtmoore380
    @gtmoore380 Місяць тому

    Great advice.

  • @Johnny_guy
    @Johnny_guy Місяць тому

    would it this work for a taxi driver or dose it have to be an actual business?

  • @richjohn9356
    @richjohn9356 Місяць тому

    I am financially aware but didn't know what a ETF was, probably be a good idea to explain for some who invest in different sectors and thank you for the video

  • @declanmcardle
    @declanmcardle Місяць тому

    Hopefully the rules here will change in the coming years. In the meantime, there's always JAM and BRK.B if you don't want to be chopping and changing and trimming the mag 7 all the time...

  • @Grayward
    @Grayward Місяць тому

    Achieving financial freedom in Ireland often comes down to how well we can optimize our income and investments to minimize tax liability. With the right tax efficient strategies, like utilizing retirement accounts or investing in tax-exempt funds, you can build wealth faster while keeping more of what you earn.

    • @CollinsPowell-b5k
      @CollinsPowell-b5k Місяць тому

      Exactly For instance, the tax relief available through pension contributions in Ireland can be a powerful tool. Contributions to a personal retirement savings account (PRSA) or an occupational pension scheme are tax deductible up to certain limits, which lowers your taxable income now while preparing for the future.

    • @AhmedHamad-p1p
      @AhmedHamad-p1p Місяць тому

      I agree, but it’s also essential to understand the Irish Capital Gains Tax (CGT). If you’re selling assets like property or shares, you’re subject to CGT at 33%. However, taking advantage of the annual CGT exemption of €1,270 can help to reduce your overall tax burden. Planning sales around this allowance can really add up over time.

  • @tomgreene1843
    @tomgreene1843 Місяць тому

    Who are you?

  • @tomgreene1843
    @tomgreene1843 Місяць тому

    Agree strongly on your fake news piece ....much reportage on numerate matters is awful..

  • @steflift5165
    @steflift5165 Місяць тому

    But does it really just reflect that money has devalued that amount recently? Merely avoiding fiscal drag..

  • @boradley601
    @boradley601 Місяць тому

    Really enjoying your Irish content.

  • @patnally8410
    @patnally8410 Місяць тому

    Great info. Really appreciate the podcast.

  • @donfalcon1495
    @donfalcon1495 Місяць тому

    3% average return on investment in a pension sounds terrible!

    • @declanmcardle
      @declanmcardle Місяць тому

      I'd say Aviva think it's fantastic!

    • @donfalcon1495
      @donfalcon1495 Місяць тому

      @ I wonder where the money goes!

    • @donfalcon1495
      @donfalcon1495 Місяць тому

      @@declanmcardle the pension industry is one big scam! Basically people getting paid exorbitantly for removing value! And governments across the world support this! Any who charges to give a 3% average annual return in a pension should go to prison😁