Don Alfonso
New Member
- Messages
- 2
Age: 47
Spouse’s/Partner's age: 45
Annual gross income from employment or profession:
€0 – Recently made redundant. Previous salary was €70k – I will use this amount as this is what I will be looking for in my next job.
Annual gross income of spouse: €75k
Monthly take-home pay: €3200 + €3500 = €6700
Type of employment: e.g., Civil Servant, self-employed: Both in private sector.
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving
Rough estimate of value of home: €375k
Amount outstanding on your mortgage: €100k
What interest rate are you paying?
Tracker +1.25%
Other borrowings – car loans/personal loans etc: €0
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card?
Savings and investments:
€75k Irish Life Regular Premium Savings (monthly payments €700pm, Originally with Quinn Life and should be due reduced costs from next year, 15 yr anniversary)
€150k Cash (Redundancy)
€350k shares (all in the same company) CGT will be due on all of this
€15k Joint Account
Wife has savings of circa €100k in Zurich, Cash & Shares.
€15k College Fund with Zurich – Children’s allowance paid in every month
Do you have a pension scheme?
Me: DB from previous employer – Will pay €21k per year
Wife: DB: €3K + Private pension – fully maxed out
Do you own any investment or other property? No
Ages of children: 5
Life insurance: Yes
Looking for advice on the following
Best place to invest €125k of cash savings – Happy to put away for up to 10 years. Medium risk. (I was advised to Invest in the Irish Life Maps Level 4 by my bank when they seen my redundancy.)
Need to reduce share exposure (€350k). Was thinking of liquidating over 20 years to try and minimise Tax but realise this will be minimum. What is the best way to do this and where should I invest this? Can a financial advisor also give me Tax advice on minimising my Tax Exposure?
Children’s allowance is being invested in Zurich investment plan – Plan to have €40k in plan at 18 years of age. – Should I make €3k lump sum top up per year to get this to target of €100k when 18.
Spouse’s/Partner's age: 45
Annual gross income from employment or profession:
€0 – Recently made redundant. Previous salary was €70k – I will use this amount as this is what I will be looking for in my next job.
Annual gross income of spouse: €75k
Monthly take-home pay: €3200 + €3500 = €6700
Type of employment: e.g., Civil Servant, self-employed: Both in private sector.
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving
Rough estimate of value of home: €375k
Amount outstanding on your mortgage: €100k
What interest rate are you paying?
Tracker +1.25%
Other borrowings – car loans/personal loans etc: €0
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card?
Savings and investments:
€75k Irish Life Regular Premium Savings (monthly payments €700pm, Originally with Quinn Life and should be due reduced costs from next year, 15 yr anniversary)
€150k Cash (Redundancy)
€350k shares (all in the same company) CGT will be due on all of this
€15k Joint Account
Wife has savings of circa €100k in Zurich, Cash & Shares.
€15k College Fund with Zurich – Children’s allowance paid in every month
Do you have a pension scheme?
Me: DB from previous employer – Will pay €21k per year
Wife: DB: €3K + Private pension – fully maxed out
Do you own any investment or other property? No
Ages of children: 5
Life insurance: Yes
Looking for advice on the following
Best place to invest €125k of cash savings – Happy to put away for up to 10 years. Medium risk. (I was advised to Invest in the Irish Life Maps Level 4 by my bank when they seen my redundancy.)
Need to reduce share exposure (€350k). Was thinking of liquidating over 20 years to try and minimise Tax but realise this will be minimum. What is the best way to do this and where should I invest this? Can a financial advisor also give me Tax advice on minimising my Tax Exposure?
Children’s allowance is being invested in Zurich investment plan – Plan to have €40k in plan at 18 years of age. – Should I make €3k lump sum top up per year to get this to target of €100k when 18.