By Cleona Kinahan M.SC CFP® QFA FLIA
Can I be honest for a moment… – ‘retirement’ feels like the wrong word for what’s next, doesn’t it?
For many of our clients in their 50s and 60s, retirement isn’t about stopping.
It’s about redesigning.
Shifting from building wealth to making your money work for you.
Choosing lifestyle freedom over obligation.
Reclaiming your time – and deciding what you want it to actually feel like.
At O’Leary Financial Planning, we meet a lot of independent, financially established people who still feel a bit uneasy. Not because they don’t have enough – but because they’re not sure how to use what they’ve built in a way that feels smart, sustainable, and in line with their life ambitions.
This article is for you if you’re thinking:
“I’ve done well… but what now?”
Financial Planning Over 50 In Ireland.
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Why the Money Isn’t the Problem
We often say: the figures are rarely the blocker. What holds people back from stepping into this new phase with confidence is mindset – shaped by decades of saving, providing, and working hard.
Here are the three most common subconscious fears we hear from clients over 50:
1.“What if I run out?” – Even with €500k+ in pensions or investments, many still fear outliving their money.
2.“I’m behind.” – This is rarely true, but comparisons and uncertainty can fuel self-doubt.
3.“What if I get it wrong?” – Fear of a poor decision can lead to doing nothing – which is often riskier.
Add to that the internal hesitations:
- “I don’t have a big enough pot.”
- “I’ll look into it next year.”
- “Downsizing feels like failure.”
These are all natural. But if you’re reading this, you probably sense it’s time to move from accumulation to intention. To shift focus from simply ‘having enough’ to using your wealth as a tool to design the life you actually want.
Move from Financial Fog to Clarity
You’re not alone if things feel messy. We hear it all the time:
“I’ve got a few pensions from old jobs, some savings accounts, maybe a property – but I have no idea what I can actually live on.”
That fog is frustrating – and it’s not your fault. Ireland’s financial system isn’t exactly user-friendly when it comes to decumulation. The rules around ARFs, PRSAs, inheritance tax, and State Pension timing aren’t easy to piece together without guidance.
So, let’s break it down. Based on our experience with hundreds of clients in this stage of life, we see two main types of barriers:
1.Emotional and Mindset Barriers (The internal tug of war)
- Guilt about spending after a lifetime of saving
- Emotional attachment to the family home
- Loss of identity post-work or post-parenting
- Confusion over when (and how) to start drawing down money
- Anxiety about becoming dependent on children or the State
- Fear of losing control or making a mistake
- Overwhelm from too many decisions
- Pressure to ‘leave a legacy’ – but unclear how to do that without creating family tension
2.Physical and Practical Barriers (Easy to Miss, Until They Matter)
- Disjointed pension pots scattered across providers
- Unclear tax implications of withdrawing lump sums
- No income strategy once salary stops
- Partner disagreement about risk or lifestyle choices
- No will or enduring power of attorney in place
- Overreliance on cash, or outdated investment structures
- Lack of understanding around CAT thresholds
- PRSI gaps affecting State Pension eligibility
- Unused tax allowances or inefficient structures
- Inheritance planning gaps for adult children or blended families
All of these issues are solvable – but they often stay buried until a life event forces action.
What You Really Want (and Deserve)
We know this: you want to enjoy your life. To feel secure in your choices, not just financially but emotionally.
You want to know:
- “Can I afford to reduce work?”
- “Can we travel more – and still leave something behind for the kids?”
- “If one of us gets sick, are we protected?”
- “How do we keep the tax man from taking more than our family?”
Underneath it all, most clients are seeking the same thing:
✅ Peace of mind
✅ Clarity
✅ Confidence to make decisions
Above all, they want peace of mind. A sense that their finances are aligned with how they want to live – not just now, but for the next 20 or 30 years (and finally getting the permission to enjoy what you’ve built).
Let’s Plan for Life – Not Just Retirement
In summary, at OLFP, we understand that financial confidence is not just about the numbers. It’s about creating a plan that feels right for where you are in life and what you value most.
We take the scattered pieces and bring them together – pensions, investments, property, tax planning, legacy plans – into a clear strategy that gives you freedom, flexibility, and peace of mind.
It’s never too late. And you’re likely in a stronger position than you think.
Ready for a fresh perspective?
If you’re over 50 and want to feel more in control of your next chapter, we’re here to help.
Let’s build a plan that supports your life, not just your retirement.
Book a conversation with our team today.
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For personalised advice on pension and retirement planning or any other financial advice question, book a Quick Chat at O’Leary Financial Planning.
Alternatively email us at advice@olearys.ie for more information.
Disclaimer: This content is for informational purposes only and does not constitute financial or legal advice. Always seek professional guidance before making decisions.