dub45trying
New Member
- Messages
- 4
Personal details
Age: 45
Spouse's age: 42
Number and age of children: 0
Income and expenditure
Annual gross income from employment or profession: €160K
Annual gross income of spouse/partner: €50K
Monthly take-home pay: €9,900
Type of employment - Employee in Tech & and Spouse in semi state
In general, are you:
(b) saving? Approx €4k a month. Generally top up savings with any disposable income.
Summary of Assets and Liabilities
Family home value: €650K
Mortgage on family home: €250K
Net equity: €400K
Cash: €350K
Site in west of Ireland: €50K (we may build on this in five years' time)
Total net assets: €800k Approx
Family home mortgage information
Lender: Haven
Interest rate: 3.5%
Type of interest rate: tracker, variable, fixed. Fixed
If fixed, what is the term remaining of the fixed rate? two more years.
Remaining term: 20 years
Monthly repayment: €1,400
Other borrowings – car loans/personal loans etc
None
Car Value: €15K
Pension information
Value of pension fund:
Defined contribution pension fund: €140K (Irish Life)
Spouse Defined Benefit: €15K per Anum at retirement
I do intent to make a AVC for 2023 and 2024. Maybe €20K
Buy to let properties
None
Other savings and investments:
Bought €10K Gold ETF and this has done well over the last year +30%
Other information which might be relevant
Mortgage protection insurance: €40 a month
What specific question do you have or what issues are of concern to you?
I have worked quite hard over the last ten years, as GFC wiped me out financially, I was self-employed during 2006 to 2012 and had very little income in this period. I had to start a career in private sector and work my way up in salary level. I am in the current role less than one year, all things been equal, both our jobs are as secure as they can be, we are both happy in the roles. We are active and enjoy life with a couple of holidays, keep healthy.
We are saving for a potential house purchase; however, we like the area here and do not need to move or spend on our current home. We upgraded the interior four years ago and don't envisage significant outlays in the next three years. There are certain houses that if they came up for sale in our area, we would likely want to purchase. Approx value of these would be €1M to €1.2M. (I would not like to do this if it put us under any pressure financially to do so).
Question 1.
I have cash in deposit interest bearing accounts (not beating inflation, I am considering moving some cash to money market accounts on Degiro, however, I am not 100% clear on the return with these, this is the one I am considering, Lyxor Smart Overnight Return - UCITS ETF C-EUR.
Question 2.
I am open to share ownership and ETFs, though see the stock market as quite high now. I have explored Trading 212 where they have Pies you can invest weekly. I am willing to start a weekly fund purchase about €500 a week.
Question 3.
I am open to paying for independent financial advice, however, I find it hard to identify someone to work with. Any recommendations on best way to seek out someone. Time poor for research.
Question 4.
I didn't see paying off the mortgage as a sensible thing to do, but now maybe this is a good way to go. Longer term I would like to have a second property that produces rental income, however, I also am more aware of dividends as an income source now as well.
Essentially, worked hard to get to this point, have considerable experience in my sector, enjoy the challenge of this role. I now want to continue this progression, at this time, I am willing to spend a bit of time on some financial planning, which I have never really done up to now as I was quite focused on self-development and progression in my take home pay and improving our home.
Age: 45
Spouse's age: 42
Number and age of children: 0
Income and expenditure
Annual gross income from employment or profession: €160K
Annual gross income of spouse/partner: €50K
Monthly take-home pay: €9,900
Type of employment - Employee in Tech & and Spouse in semi state
In general, are you:
(b) saving? Approx €4k a month. Generally top up savings with any disposable income.
Summary of Assets and Liabilities
Family home value: €650K
Mortgage on family home: €250K
Net equity: €400K
Cash: €350K
Site in west of Ireland: €50K (we may build on this in five years' time)
Total net assets: €800k Approx
Family home mortgage information
Lender: Haven
Interest rate: 3.5%
Type of interest rate: tracker, variable, fixed. Fixed
If fixed, what is the term remaining of the fixed rate? two more years.
Remaining term: 20 years
Monthly repayment: €1,400
Other borrowings – car loans/personal loans etc
None
Car Value: €15K
Pension information
Value of pension fund:
Defined contribution pension fund: €140K (Irish Life)
Spouse Defined Benefit: €15K per Anum at retirement
I do intent to make a AVC for 2023 and 2024. Maybe €20K
Buy to let properties
None
Other savings and investments:
Bought €10K Gold ETF and this has done well over the last year +30%
Other information which might be relevant
Mortgage protection insurance: €40 a month
What specific question do you have or what issues are of concern to you?
I have worked quite hard over the last ten years, as GFC wiped me out financially, I was self-employed during 2006 to 2012 and had very little income in this period. I had to start a career in private sector and work my way up in salary level. I am in the current role less than one year, all things been equal, both our jobs are as secure as they can be, we are both happy in the roles. We are active and enjoy life with a couple of holidays, keep healthy.
We are saving for a potential house purchase; however, we like the area here and do not need to move or spend on our current home. We upgraded the interior four years ago and don't envisage significant outlays in the next three years. There are certain houses that if they came up for sale in our area, we would likely want to purchase. Approx value of these would be €1M to €1.2M. (I would not like to do this if it put us under any pressure financially to do so).
Question 1.
I have cash in deposit interest bearing accounts (not beating inflation, I am considering moving some cash to money market accounts on Degiro, however, I am not 100% clear on the return with these, this is the one I am considering, Lyxor Smart Overnight Return - UCITS ETF C-EUR.
Question 2.
I am open to share ownership and ETFs, though see the stock market as quite high now. I have explored Trading 212 where they have Pies you can invest weekly. I am willing to start a weekly fund purchase about €500 a week.
Question 3.
I am open to paying for independent financial advice, however, I find it hard to identify someone to work with. Any recommendations on best way to seek out someone. Time poor for research.
Question 4.
I didn't see paying off the mortgage as a sensible thing to do, but now maybe this is a good way to go. Longer term I would like to have a second property that produces rental income, however, I also am more aware of dividends as an income source now as well.
Essentially, worked hard to get to this point, have considerable experience in my sector, enjoy the challenge of this role. I now want to continue this progression, at this time, I am willing to spend a bit of time on some financial planning, which I have never really done up to now as I was quite focused on self-development and progression in my take home pay and improving our home.
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