warnerbottom
Registered User
- Messages
- 19
Hi,
Ive worked hardand had some luck and managed to build up a bit of savings. Recently returned home from overseas and getting settled has eaten into savings etc. However, I feel were now in a good position to start planning for the near future.
I've never really had much spare funds and the assignment overseas has given us a bump, so would really appreciate some advice on what to do to put our family in a strong position for the future.
Personal details
Age: 48
Spouse's age: 47
Number and age of children: 2 children, 16 & 15
Income and expenditure
Annual gross income from employment or profession: c. 220k including bonuses
Annual gross income of spouse/partner: 50k
Monthly take-home pay: 11,500 (combined)
Type of employment - e.g. Employee or self-employed. Employed
Employer type: private company.
In general we are saving about 3k per month but have had ongoing home improvement expenses that will end this year. From Q4 I expect that we would have about 4-5K per month savings.
Summary of Assets and Liabilities
Family home value: 900k
Mortgage on family home: 350k
Net equity: 650k
Cash: 270k
Defined Contribution pension fund: 300k
Company shares : 150k
Buy to Let Property value: No
Buy to let Mortgage:No
Total net assets:
Family home mortgage information
Interest rate 3%
Type of interest rate: fixed for 7 years, 5 remaining
Remaining term: 15 years
Monthly repayment: 1800
Other borrowings – car loans/personal loans etc
No car loans
Do you pay off your full credit card balance each month? yes
Pension information
Value of pension fund: 300k
Buy to let properties - None
Other savings and investments:
Other information which might be relevant
Life insurance: yes. work scheme
Health insurance (Laya) 500 per month
What specific question do you have or what issues are of concern to you?
I'm conscious of funding needs for university in 3-5 years but would also like to exit my corporate job in 5 years (stress issues). i would love some advice on how to invest / use the funding we have to create a passive income stream, or to invest so that I can move to a less well paid, but less stressful job in 5 years.
Ive worked hardand had some luck and managed to build up a bit of savings. Recently returned home from overseas and getting settled has eaten into savings etc. However, I feel were now in a good position to start planning for the near future.
I've never really had much spare funds and the assignment overseas has given us a bump, so would really appreciate some advice on what to do to put our family in a strong position for the future.
Personal details
Age: 48
Spouse's age: 47
Number and age of children: 2 children, 16 & 15
Income and expenditure
Annual gross income from employment or profession: c. 220k including bonuses
Annual gross income of spouse/partner: 50k
Monthly take-home pay: 11,500 (combined)
Type of employment - e.g. Employee or self-employed. Employed
Employer type: private company.
In general we are saving about 3k per month but have had ongoing home improvement expenses that will end this year. From Q4 I expect that we would have about 4-5K per month savings.
Summary of Assets and Liabilities
Family home value: 900k
Mortgage on family home: 350k
Net equity: 650k
Cash: 270k
Defined Contribution pension fund: 300k
Company shares : 150k
Buy to Let Property value: No
Buy to let Mortgage:No
Total net assets:
Family home mortgage information
Interest rate 3%
Type of interest rate: fixed for 7 years, 5 remaining
Remaining term: 15 years
Monthly repayment: 1800
Other borrowings – car loans/personal loans etc
No car loans
Do you pay off your full credit card balance each month? yes
Pension information
Value of pension fund: 300k
Buy to let properties - None
Other savings and investments:
Other information which might be relevant
Life insurance: yes. work scheme
Health insurance (Laya) 500 per month
What specific question do you have or what issues are of concern to you?
I'm conscious of funding needs for university in 3-5 years but would also like to exit my corporate job in 5 years (stress issues). i would love some advice on how to invest / use the funding we have to create a passive income stream, or to invest so that I can move to a less well paid, but less stressful job in 5 years.