John Ellis

Risky business; 7 key points to investing

BY JOHN ELLIS

FINANCIAL ADVISOR

WHEN investing, risk relates to the possibility you might get back less than you put in. Like most things in life, no investment is without risk. However, you’ll have your own ideas about the risk you’re comfortable with.

It’s not only how much risk you’re prepared to take, known as ‘attitude to risk’, but recognising how much you can afford to lose, known as your ‘capacity for loss’.

You might be willing to take great risks, but would losing money leave you in financial difficulty? It’s equally important that you understand your capacity for loss and are comfortable with it before you choose investments that match your circumstances.

So, how much risk are you prepared to take?

The first step is establishing your attitude to risk by outlining your aims, personal circumstances, and views on risk.

The second step is to use a Risk Profiling Tool(s). These tools ask a number of questions and based on your answers the tool generates one of seven risk profiles to help with your decision making.

Your Financial Broker will then explain the asset classes that match, and you will then be able to make an informed choice.

The seven profiles are as follows 1. If you are a ‘very low risk’ investor, you are not willing to accept any significant risks with your money, accepting the prospect of low returns to achieve this. Funds with a Risk Profile of Type 1 typically hold investments which see little change in value from day to day, such as short-term bank deposits. Over the long-term, high returns are very unlikely, and the returns may not keep pace with inflation.

2. If you are a ‘low risk’ investor, you are likely to accept limited risks with your money and will want to try to avoid large fluctuations in the value of your investment, accepting the prospect of more modest returns to achieve this. Over the longterm, high returns are unlikely, and the returns may not keep pace with inflation.

3. If you are a ‘low to medium risk’ investor you are likely to accept some risk in return for the potential of higher investment gains over the long-term. You will want to try to avoid large fluctuations in the value of your investment but accept there will be some fluctuation particularly over the short-term.

4. If you are a ‘medium risk’ investor, you are likely to accept increased risk in return for the potential of good investment gains over the long-term. You accept there will be significant fluctuations in the value of your investment, particularly over the short-term. However, you will want to limit the amount of your money held in more risky investments.

5. If you are a ‘medium to high risk’ investor, you are likely to understand that the value of your investment can go down and up sharply with the potential for greater returns over the long term.

6. If you are a ‘high risk’ investor, you are likely to aim for high possible returns and accept higher levels of risk, recognising the value of your investment may fluctuate very sharply, particularly over the short-term.

7. If you are a ‘very high risk’ investor, you are likely to aim for the highest possible returns and accept the highest levels of risk, recognising that the value of your investment may fluctuate very widely, particularly over the short term.

Finally, are you concerned with the current volatility in the markets? Are you about to change your investment strategy? Take some time with your Financial Broker to review and refine your current investment approach rather than making a sudden decision based on fear and anxiety.

Remember, history has shown that the longer you keep your money invested, the greater the possibilities of a positive outcome.

I met an angel in Kilkenny

BY: TOLUWANI AKEHOMEN

THE Hub, Cillín Hill, Kilkenny. I walked into the vaccination centre with some trepidation. I was going in for my first Covid19 vaccination. I had pussyfooted a bit since the portal opened for my age group, apprehensive about registering but also knowing that I was simply postponing the inevitable. Eventually, I bit the bullet, but then I hoped that there would be some delay and I would not be called for a few weeks yet. That wasn’t to be; I received the text message a few days later.

I’m not one to feed on rumours and usually pride myself on being relatively well-informed about matters of interest to me. However, with Covid-19 and all the various versions of the truth that had been peddled, it’s been difficult to stay focused on one line of perspective or reasoning. Thus, I went into the vaccination centre with a bit of reluctance and a whole lot of prayers said and faith in God. Little did I know that I was to meet an angel.

My ‘encounter’ with Ronan Tynan (because that’s the most apt word to describe my meeting with this man) appeared to be coincidental, but it was really not. I had never heard of or met Ronan Tynan, but that day, I felt that God has brought this man my way as an answer to my prayers. He injected me with my vaccine, but I felt no pain. Nothing. I had to ask him, “Is that it?” It was a beautiful experience - I had met an angel in Kilkenny. He had been sent to deal with all my fears with a tremendous show of love and grace, and to vaccinate me. There was an angel in Cillín Hill.

To those who have met and know Ronan Tynan, he’s the famous, highly talented Irish tenor singer, who’s sang on global stages and in front of presidents. To me, he is one of the kindest, gentlest and most beautiful souls I’ve been blessed to meet. I was truly overwhelmed by his attention to me, his patience, his demonstration of love, his personality and his person. It was only then that I really understood how the woman at the well of Samaria in The Gospel of John Chapter four felt. She met Jesus and wanted to tell her family, friends and entire community about him.

For the next 3 days after my encounter with this phenomenal man, I tweeted, facebooked and talked about him to anyone who’d care to listen -I had met a doctor like no other. On the fourth day, I discovered who everyone else knew him to be. It really did not make a difference; it still does not. To me, he’s my angel.

It takes very little to make a positive impact in the lives of people in one’s community. Beyond our differences, on a human-to-human level, we’re all the same. We need and respond the same way to love, kindness and grace, and we all need to be one another’s angel. My life was touched by an angel in Kilkenny. I hope you meet your own angel everyday, especially in your time of need. Equally importantly, I hope you remember every day that you are someone’s angel.

Professionally, Toluwani Akaehomen is a Leadership, Learning and Inclusion Consultant. She also serves as a volunteer Newscaster and Presenter of Global Voices on Community Radio Kilkenny City and volunteer PR Consultant at Twilight Community Group. Toluwani has lived in Kilkenny for 20 years.

Professionally, Toluwani Akaehomen is a Leadership, Learning and Inclusion Consultant. She also serves as a volunteer Newscaster and Presenter of Global Voices on Community Radio Kilkenny City and volunteer PR Consultant at Twilight Community Group. Toluwani has lived in Kilkenny for 20 years.

Cybercrime threat to all: EU must act, says Clune

A TOTAL of 32 people in Kilkenny are either homeless or living in emergency accommodation, according to the latest figures.

The Department of Housing, Local Government and Heritage Monthly Homelessness Report for April reveals there has been a drop of just one person on the March figures.

Although seemingly remaining stagnant, the latest figures represent a near 50% drop in homelessness since the beginning of the pandemic.

In March 2020 49 people were recorded as being homeless or living in emergency accommodation in Kilkenny.

Nationally, 5,889 people are currently homeless or living in emergency accommodation, one-third of whom are women according to the report.

At the end of March 2020, 6,552 people were deemed homeless, 663 more than the present figures, representing a 10% decrease.

From 27 last year, a range of Government measures were introduced to prevent people becoming homeless during the pandemic, including a moratorium on all evictions and a rent freeze. Focus Ireland and many others have long called for such preventative measures to be introduced. in response to the housing crisis over the past several years, but a lack of political will and a fear of unconstitutionality had blocked their introduction on several occasions.

Farmers should look to registered partnership

IFAC, Ireland’s farming, food and agribusiness specialist professional services firm, is advising Kilkenny farmers to consider forming a Registered Farm Partnership (RFPs).

RFPs can be a great way to increase succession options, improve profitability, enhance worklife balance, reduce Income tax, obtain 50% stock relief, and avail of a potential double-ceiling on investments that are eligible for the new TAMS II Capital Grant.

Philip O’Connor, Head of Farm Support at ifac said: “Registered Farm Partnership (RFP’s) are a great business structure to allow a business grow and within family entities, they enable the road to succession. They work across all types of farms, from large-scale full-time farm operations to small and part-time farmers. Every farm, regardless of size, is different and RFP’s have the flexibility to work across almost all situations”

However, changing your farm structure is a major decision that requires careful planning. When considering forming an RFP, ifac recommends adopting a three-step approach, as below:

STEP 1: Assessment

The first step is to assess the business case. Relevant tax, legal, succession and Department of Agriculture factors need to be examined and potential pitfalls identified and resolved. This is a key phase as it ensures that you are entering the partnership for the right reasons and at the right time. There is nothing wrong with postponing a business structure change if the business case does not make sense or the timing is wrong.

STEP 2: Execution

If you decide to go ahead, the second step is getting the paperwork in order so that your partnership documentation can be submitted to the Department of Agriculture’s RFP unit and your new partnership can go ‘live’. Your herd number will need to be moved, a partnership agreement drafted, a tax number obtained and a partnership bank account opened. Herd registration forms must be sent to your local DVO for processing (seek advice on how best to operate multiply herd numbers within an RFP).

STEP 3: Implementation

Your accountant will tell you the date that your new structure is trading from. This is when you start using your new partnership bank account for all farm lodgements and purchases. You must inform your customers and suppliers and ensure that invoices are issued using the new partnership name. To achieve a successful RFP, it is essential that the three steps outlined above are carried out correctly.

Thereafter, the partnership should be reviewed every year and the capital account signed/ agreed upon by all partners. For advice and assistance, contact your local ifac office where our team can provide more information and guide you through the process. THERE was a huge increase in the seizing of illegal medicines during 2020, according to The Health Products Regulatory Authority (HPRA). It announced that its enforcement section detained some 1,610,295 dosage units of falsified and other illegal medicines in 2020, an increase of 58% on 2019.

Our picture shows a portion of the seized medicines.

The agency said the supply of these products into and within Ireland was illegal and stressed that consumers could have no guarantees about the safety or quality of prescription medicines they were seeking to buy outside of the regulated pharmacy setting.

It reminds the public for their own safety to only purchase medicines from authorised Irish sources. The national health products regulator also announced today it detained a further 103,000 dosage units of illegal prescription medicines this past week alone as part of its Operation Pangea actions in partnership with Revenue’s Customs Service and An Garda Síochána. Operation Pangea is an annual Interpol-coordinated international week of action targeting the online sale of falsified and illegal medicines via illicit online suppliers and/or ecommerce platforms.

In 2020, the most significant categories of illegal products included sedatives (36%), erectile dysfunction medicines (30%), analgesics (9%) and anabolic steroids (6%).

1.6 million units of illegal meds seized

Lidl gets the ok for next new store

LIDL Ireland has been given the go-ahead by Kilkenny County Council for planning permission to build a new store on the site of their existing supermarket on the Waterford Road.

As part of the plans, the German supermarket giant has also been granted permission to build 13 houses on a site adjoining the supermarket.

The retailer can now go ahead with its plans to build a larger 2,412 sq mts supermarket, consisting of a foodstore, offlicence and storage area on that site.

The development also includes carparking, signage, landscaping, public lighting, electric vehicle charging points, roof mounted solar panels, a refrigeration and air conditioning plant, and cycle parking.

The decision also grants Lidl permission to construct 13 two-storey, three bed homes on a site next door to the current supermarket.

Brewhouse on target for year’s end

THE Brewhouse project is expected to be completed over the coming months and open for business by the end of this year.

Work on the development was suspended earlier this year in line with Covid-19 restrictions. With the easing of these restrictions in May, work is continuing on site and it is expected that the project will be completed before the end of this year, subject to no further restrictions delaying progress.

According to a spokesperson for Kilkenny County Council there could be between 200 and 300 people working in the Brewhouse by the end of the year.

This project includes the development of the Public Realm area of Horse Barrack Lane and the Brewhouse Courtyard, with these projects being part funded by the Urban Regeneration & Development Fund and the European Regional Development Fund.