Age: 33
Spouse’s/Partner's age: 35
Annual gross income from employment or profession: 28000
Annual gross income of spouse:25000
Monthly take-home pay 2000 /1800
Type of employment: e.g. Civil Servant, self-employed
In general are you:
(a) spending more than you earn, or
(b) saving? Saving
Rough estimate of value of home
Amount outstanding on your mortgage: 0
What interest rate are you paying? Renting.
Other borrowings – car loans/personal loans etc. :0
Do you pay off your full credit card balance each month? No credit card
If not, what is the balance on your credit card?
Savings and investments: Lumps Sum set aside for property purpose only
Do you have a pension scheme? No
Do you own any investment or other property? No
Ages of children: 0
Life insurance: No
What specific question do you have or what issues are of concern to you?
We had a goal of to save a specific sum to buy a property. We have reached this amount and we think it’s possible to be mortgage free. When buying a property in the future, this figure is to cover all costs involved in the purchase of the property.
We are happy with the lump sum that we have reached and it is now set aside to buy a property when the time is right for us.
Additional €10k available per person for emergency.
Concerns:
1) Lump sum what is the best to do with it now until we wish to buy a property. Thinking of purchasing a property in the next 3- 5 years.
What could we take advantage of … money sitting at almost 0% but what to where to put it.
Having looked at investment plans with banks over recent year but never have followed through. Possible because we didn’t know enough about investments and we might have needed the money, we are very risk adverse.
Currently Rent (Shared accommodation) Renting with others is manageable for the moment. We rent to save. If we were to rent a property it would cost approx. 1000 pm. Renting now for 15 years approx. 70 per person per week approx
We should have a financial plan, but haven’t to date as there was only one goal in mind…saving for property. From here, how should we structure our income going forward.
For short medium and long term?
Two single account and joint account?
Additional upcoming expenses over the next 2-3 years:
Changing car 5-8K (Second Car?)
Travel 5-8k each
Education
Hard few years putting as much aside as possible to reach our goal, and for this reson we wnat o be smart moving forward.
We need advice on what to do next.
Thank you for reading and I look forward to getting opinions and ideas on what to do next.
Rachel - Eve
Spouse’s/Partner's age: 35
Annual gross income from employment or profession: 28000
Annual gross income of spouse:25000
Monthly take-home pay 2000 /1800
Type of employment: e.g. Civil Servant, self-employed
In general are you:
(a) spending more than you earn, or
(b) saving? Saving
Rough estimate of value of home
Amount outstanding on your mortgage: 0
What interest rate are you paying? Renting.
Other borrowings – car loans/personal loans etc. :0
Do you pay off your full credit card balance each month? No credit card
If not, what is the balance on your credit card?
Savings and investments: Lumps Sum set aside for property purpose only
Do you have a pension scheme? No
Do you own any investment or other property? No
Ages of children: 0
Life insurance: No
What specific question do you have or what issues are of concern to you?
We had a goal of to save a specific sum to buy a property. We have reached this amount and we think it’s possible to be mortgage free. When buying a property in the future, this figure is to cover all costs involved in the purchase of the property.
We are happy with the lump sum that we have reached and it is now set aside to buy a property when the time is right for us.
Additional €10k available per person for emergency.
Concerns:
1) Lump sum what is the best to do with it now until we wish to buy a property. Thinking of purchasing a property in the next 3- 5 years.
What could we take advantage of … money sitting at almost 0% but what to where to put it.
Having looked at investment plans with banks over recent year but never have followed through. Possible because we didn’t know enough about investments and we might have needed the money, we are very risk adverse.
Currently Rent (Shared accommodation) Renting with others is manageable for the moment. We rent to save. If we were to rent a property it would cost approx. 1000 pm. Renting now for 15 years approx. 70 per person per week approx
We should have a financial plan, but haven’t to date as there was only one goal in mind…saving for property. From here, how should we structure our income going forward.
For short medium and long term?
Two single account and joint account?
Additional upcoming expenses over the next 2-3 years:
Changing car 5-8K (Second Car?)
Travel 5-8k each
Education
Hard few years putting as much aside as possible to reach our goal, and for this reson we wnat o be smart moving forward.
We need advice on what to do next.
Thank you for reading and I look forward to getting opinions and ideas on what to do next.
Rachel - Eve