Hi,
I've been reading this forum for a while, huge benefit to me and I thank you for providing this platform. I'm only just in a place where I've covered off the foundations on the flowchart and looking at future decisions.
Personal details
Age:41
Spouse’s/Partner's age:34
Number and age of children:1 - 5yrs
Income and expenditure
Annual gross income from employment or profession: 70k
Annual gross income of spouse: 62k
Monthly take-home pay - 7000
Type of employment: e.g. Civil Servant, self-employed.
In general are you:
(a) spending more than you earn, or
(b) saving? Saving
Summary of Assets and Liabilities
Family home worth €370k (probably a little more now) with a €325k mortgage
Cash of €20k
pension fund: Old employers €26k + 6k
Company shares : NA
Buy to Let Property NA
Family home mortgage information
Lender - KBC
Interest rate - 2.25%
Type of interest rate: fixed.
If fixed, what is the term remaining of the fixed rate? 3yr Finishing April 2025
Remaining term: (Original term is not relevant) 27yrs
Monthly repayment: 1389
Other borrowings – car loans/personal loans etc
None
Do you pay off your full credit card balance each month? Y
If not, what is the balance on your credit card? 0
Other savings and investments:
Do you have a pension scheme? Y with work employer 10% + me 15%. Just increased to the 25%. Qualify for UK also.
Partner - none currently, set up for Jan.
Do you own any investment or other property? No.
Other information which might be relevant
Life insurance, medical insurance & death in service x4 through work.
What specific question do you have or what issues are of concern to you?
Life only just started to settle in the last year or so after paying high rent, childcare costs have come down (for now) & job changes. we are a little late getting our forever home but that's done, plan to have another child in the next 12-18 months which will require c8k fertility costs. Started over paying mortgage the last 6 months by €250p/m. Should our focus outside of maxing out pensions be getting the mortgage below 80%. Due to receive 35k early 2024, is it best all to go against mortgage or somewhere else for education fund? I think our emergency fund is fine plus have credit union account & high limit credit card (0 balance) just incase.
I've been reading this forum for a while, huge benefit to me and I thank you for providing this platform. I'm only just in a place where I've covered off the foundations on the flowchart and looking at future decisions.
Personal details
Age:41
Spouse’s/Partner's age:34
Number and age of children:1 - 5yrs
Income and expenditure
Annual gross income from employment or profession: 70k
Annual gross income of spouse: 62k
Monthly take-home pay - 7000
Type of employment: e.g. Civil Servant, self-employed.
In general are you:
(a) spending more than you earn, or
(b) saving? Saving
Summary of Assets and Liabilities
Family home worth €370k (probably a little more now) with a €325k mortgage
Cash of €20k
pension fund: Old employers €26k + 6k
Company shares : NA
Buy to Let Property NA
Family home mortgage information
Lender - KBC
Interest rate - 2.25%
Type of interest rate: fixed.
If fixed, what is the term remaining of the fixed rate? 3yr Finishing April 2025
Remaining term: (Original term is not relevant) 27yrs
Monthly repayment: 1389
Other borrowings – car loans/personal loans etc
None
Do you pay off your full credit card balance each month? Y
If not, what is the balance on your credit card? 0
Other savings and investments:
Do you have a pension scheme? Y with work employer 10% + me 15%. Just increased to the 25%. Qualify for UK also.
Partner - none currently, set up for Jan.
Do you own any investment or other property? No.
Other information which might be relevant
Life insurance, medical insurance & death in service x4 through work.
What specific question do you have or what issues are of concern to you?
Life only just started to settle in the last year or so after paying high rent, childcare costs have come down (for now) & job changes. we are a little late getting our forever home but that's done, plan to have another child in the next 12-18 months which will require c8k fertility costs. Started over paying mortgage the last 6 months by €250p/m. Should our focus outside of maxing out pensions be getting the mortgage below 80%. Due to receive 35k early 2024, is it best all to go against mortgage or somewhere else for education fund? I think our emergency fund is fine plus have credit union account & high limit credit card (0 balance) just incase.