Age: 46
Spouse’s/Partner's age: 47
Dependents: 2 children: 9, 5.
Marital status: Married
Annual gross income from employment or profession:70,000
Annual gross income of spouse:100,000
Monthly take-home pay: 3800
Monthly take-home pay: 4300
Type of employment: Both Full time, permanent employee in private sector
In general are you:
(a) spending more than you earn, or
(b) saving? Saving but lots of outgoings despite no loans.
Rough estimate of value of home: 685,000
Amount outstanding on your mortgage: 200,000
What interest rate are you paying? : 2.35% with Ulster, fixed for 2 years, due to finish 2036
Other borrowings – car loans/personal loans etc: n/a
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:
72,000 in current account.
48,500 Consensus bond with Irish Life
20,000 in state saving bond for kids college education, & 3,500 in current account from their monthly children’s allowance will transfer to bond each time it reaches 5000.
Do you have a pension scheme?
Contribute 10% and 5% match by employer
Spouse 15 % & 5% match by employer
€12,000 in pension 1 (new employer) & €306,000 in pension 2
Unsure of spouse current pension value but only started paying into over last 6-7years.
Do you own any investment or other property? N/A
Life insurance: Mortgage protection insurance. Life cover x 4 from each employer.
Health insurance: covered by employers
Other information which might be relevant
We hope to repay mortgage by 2030 by paying off 10k lumpsums each year.
Questions
We need to move investments from current accounts but at a loss as to what we should move it to. Any investments I have made in stock market in past have failed miserably…
Our current plan to pay off mortgage by 2030 seems achievable, hope to be mortgage free by the time oldest starts college.
Concerned that pension pots are not good enough as spouse has only relatively recently started pumping € into it.
Concerned also that our life insurance policy is insufficient
Spouse’s/Partner's age: 47
Dependents: 2 children: 9, 5.
Marital status: Married
Annual gross income from employment or profession:70,000
Annual gross income of spouse:100,000
Monthly take-home pay: 3800
Monthly take-home pay: 4300
Type of employment: Both Full time, permanent employee in private sector
In general are you:
(a) spending more than you earn, or
(b) saving? Saving but lots of outgoings despite no loans.
Rough estimate of value of home: 685,000
Amount outstanding on your mortgage: 200,000
What interest rate are you paying? : 2.35% with Ulster, fixed for 2 years, due to finish 2036
Other borrowings – car loans/personal loans etc: n/a
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:
72,000 in current account.
48,500 Consensus bond with Irish Life
20,000 in state saving bond for kids college education, & 3,500 in current account from their monthly children’s allowance will transfer to bond each time it reaches 5000.
Do you have a pension scheme?
Contribute 10% and 5% match by employer
Spouse 15 % & 5% match by employer
€12,000 in pension 1 (new employer) & €306,000 in pension 2
Unsure of spouse current pension value but only started paying into over last 6-7years.
Do you own any investment or other property? N/A
Life insurance: Mortgage protection insurance. Life cover x 4 from each employer.
Health insurance: covered by employers
Other information which might be relevant
We hope to repay mortgage by 2030 by paying off 10k lumpsums each year.
Questions
We need to move investments from current accounts but at a loss as to what we should move it to. Any investments I have made in stock market in past have failed miserably…
Our current plan to pay off mortgage by 2030 seems achievable, hope to be mortgage free by the time oldest starts college.
Concerned that pension pots are not good enough as spouse has only relatively recently started pumping € into it.
Concerned also that our life insurance policy is insufficient