"I have always considered it important to get into a pension scheme"
DENTIST Danielle Colbert likes to play it safe when it comes to savings and investment.
Originally from Galway, she has a practice in Churchtown in Dublin. She has a pension, but does not want the money going into shaky shares and exotic bonds. Instead, her Irish Life retirement funds are in a deposit account.
"I have always considered it important to get myself into a pension scheme," she says.
She has been putting money into a pension since she qualified. "Like most people I am worried what is going to happen to me when I am 60."
But the massive falls in share prices in the past three years have rattled her. Shares prices have been incredibly volatile in the last while. Ms Colbert, who works with a hygienist and a dental nurse, will be ready to move her pensions pot back into equities when the markets settle down."Pensions losses have been huge in the last two years. I feel it is not safe to put money into the stock market at the moment." Ms Colbert caught the savings bug when she took out a special savings incentive account (SSIA).
When her account matured four or five years ago, she ended up with a tidy €18,000. Dentistry is tough at the moment, with people mainly only going to a surgery for an emergency. This emphasises the need to have a retirement fund in place.
- CHARLIE WESTON
Irish Independent Supplement