Hello. I'm a public servant age 60 this year. I'm thinking of getting financial planning advice (QFA) but would appreciate any advice on what I should be asking. We have a BOI mortgage of 121K at 4.25% with 10 yr term left. House is worth say 200k (rural west of Ireland). Savings of 100k An Post, 28k in bank (minimal interest) and 42k with profits bond. No loans/debts etc. Main concern is we're having a baby any time now (possibly as we speak) and a toddler under 5 - wifey is much younger obviously. My pension is based on 18 yrs service if I go to 65 at @60k/yr salary. Small UK pension this yr - @9k lump and 2k/annum. I'm fairly healthy I think so hopefully will see a few more years yet. BTW my other half is on maternity leave and works PT (12k/annum) as a nurse. And oh yes that's it on the baby front - defo no more. PS I'm basically risk averse but if needs must.............??
Pay off mortgage - no brainer??
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Brendan Burgess
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