Age:
41
Spouse’s/Partner's age:
41
Annual gross income from employment or profession:
78k
Annual gross income of spouse:
45k
Monthly take-home pay:
4155
Type of employment:
Private sector
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving.
Rough estimate of value of home:
Renting.
Amount outstanding on your mortgage:
n/a
What interest rate are you paying?
n/a
Other borrowings – car loans/personal loans etc:
None.
Do you pay off your full credit card balance each month?
Yes.
If not, what is the balance on your credit card?
n/a
Savings and investments:
75k Prize Bonds
43k Investments (amount I've invested, not the value of my portfolio)
Do you have a pension scheme?
Yes. Company contribute 10% and I have put in variable amounts throughout the years. Currently contribute 5%. Value of the pension is 82k (employee and employer contributions total 58k). Fund is the Zurich Dynamic Prisma.
Do you own any investment or other property?
No.
Ages of children:
None.
Life insurance:
None.
What specific question do you have or what issues are of concern to you?
My salary has increased significantly over the past few years and I'm trying to weigh up increasing my pension conributions vs increasing my savings. Regarding the latter, it's moreso what goes into prize bonds as I see this as my savings pot for any potential future house deposit. Returns are terrible but I can access it quickly if needs be. I was thinking of maybe upping my contributions to around 10% (possibly a little bit more) and wondering if this makes sense considering the above? It still allows me to save towards a deposit each month (I try and save 50% of my take home each month).
Thanks.
41
Spouse’s/Partner's age:
41
Annual gross income from employment or profession:
78k
Annual gross income of spouse:
45k
Monthly take-home pay:
4155
Type of employment:
Private sector
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving.
Rough estimate of value of home:
Renting.
Amount outstanding on your mortgage:
n/a
What interest rate are you paying?
n/a
Other borrowings – car loans/personal loans etc:
None.
Do you pay off your full credit card balance each month?
Yes.
If not, what is the balance on your credit card?
n/a
Savings and investments:
75k Prize Bonds
43k Investments (amount I've invested, not the value of my portfolio)
Do you have a pension scheme?
Yes. Company contribute 10% and I have put in variable amounts throughout the years. Currently contribute 5%. Value of the pension is 82k (employee and employer contributions total 58k). Fund is the Zurich Dynamic Prisma.
Do you own any investment or other property?
No.
Ages of children:
None.
Life insurance:
None.
What specific question do you have or what issues are of concern to you?
My salary has increased significantly over the past few years and I'm trying to weigh up increasing my pension conributions vs increasing my savings. Regarding the latter, it's moreso what goes into prize bonds as I see this as my savings pot for any potential future house deposit. Returns are terrible but I can access it quickly if needs be. I was thinking of maybe upping my contributions to around 10% (possibly a little bit more) and wondering if this makes sense considering the above? It still allows me to save towards a deposit each month (I try and save 50% of my take home each month).
Thanks.