Robert Whelan

Yeah, absolutely, yeah.

Yeah, news.

That's news, isn't it?

So, yeah, like basically Irish household wealth today is about 1.2 trillion.

And about two thirds of that, a little over 800 billion is actually held in residential property wealth.

And the calculation for that is the house price minus debt equals net wealth.

So if you think about it logically, if you're a first time buyer, your net, your household wealth in terms of that piece is quite small.

Whereas if you're in your 60s and your house is worth half a million quid and you have no mortgage, you have a half a million quid of wealth tied up in it.

And what we're about to see over the next 25 years is a transfer.

You've seen some estimates, but conservatively in today's money, at least 500 billion euro, maybe 600 billion euro will transfer from one generation to the next.

And it's never happened before.

And I suppose the challenge is for people as to how do they manage it.

They talk about it.

I think no one likes talking about money, particularly in Ireland, right?

So the first question is, and I hear this all the time from clients, I'm sitting on this effective cash pile in terms of the house or whatever.

I've got kids who can't get on a property ladder.

I've got grandkids who can't get on a property ladder.

And if I could only.

So it's a question of like, do I gift today?

And if I gift today, how does that affect me?