teaandbiscuits
Registered User
- Messages
- 4
Age:
41
Spouse’s/Partner's age:
42
Annual gross income from employment or profession:
120k
Annual gross income of spouse:
100k
Type of employment:
Both multinational
In general are you: (a) spending more than you earn, or (b) saving?
We are saving, our target save is 50k/year
Rough estimate of value of home:
350k
Amount outstanding on your mortgage:
Paid off
Other borrowings – car loans/personal loans etc:
None
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
240k in 5 year savings certs
220k split between various accounts (current, regular savers, short term fixed, credit union etc)
10k in Irish shares (BOI, AIB) via Degiro
60k in US domiciled Vanguard ETFs (4 fund Bogleheads-type strategy) via Degiro, investing approx 1000 / month, intend to buy and hold long term.
Do you have a pension scheme?
Me: 350k split over 3 pensions, including a current company scheme that I am contributing the max 25% to.
Spouse: Will be starting to contribute to one this year
Do you own any investment or other property?
No
Ages of children:
None
Life insurance:
Via work scheme, no separate policy
What specific question do you have or what issues are of concern to you?
Our previous financial goal was to pay off the mortgage. Now that is done our next goal is to plan for early retirement around 50. We plan to do that by maxing pension contributions and saving/investing
We have 2 questions we'd love some advice on:
1. We're working the numbers to try and see if early retirement is achievable. Any input would be appreciated. Or even questions to get us thinking the right way.
2. Apart from the pensions and the savings regime we are not sure how best to invest our money to further this goal. Basically we're good savers but not so great investors!
The 220k in various accounts is not really doing anything, so trying to find a home for that is a priority. We're somewhat paralyzed with indecision on what to do here.
- We think that translating some/most of that into ETFs is probably the way forward, but concerns about the current market means we're dripping the money in rather than buying in bulk. We're also somewhat concerned about the safety of those ETFs if Degiro was to have an upset and we had a large holding.
- Investing in a fund (Zurich, Irish Life etc) would also be an option but the 8 year deemed disposal and tax treatment doesn't seem to make this attractive vs the ETF option.
- Direct share investment is not something we're confident on our ability to do well (hence the ETF indexed funds approach)
Not sure what other options are out there, I guess we are somewhat risk-averse and scared to commit to something high risk. Again any advice would be appreciated
Thanks for reading!
41
Spouse’s/Partner's age:
42
Annual gross income from employment or profession:
120k
Annual gross income of spouse:
100k
Type of employment:
Both multinational
In general are you: (a) spending more than you earn, or (b) saving?
We are saving, our target save is 50k/year
Rough estimate of value of home:
350k
Amount outstanding on your mortgage:
Paid off
Other borrowings – car loans/personal loans etc:
None
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
240k in 5 year savings certs
220k split between various accounts (current, regular savers, short term fixed, credit union etc)
10k in Irish shares (BOI, AIB) via Degiro
60k in US domiciled Vanguard ETFs (4 fund Bogleheads-type strategy) via Degiro, investing approx 1000 / month, intend to buy and hold long term.
Do you have a pension scheme?
Me: 350k split over 3 pensions, including a current company scheme that I am contributing the max 25% to.
Spouse: Will be starting to contribute to one this year
Do you own any investment or other property?
No
Ages of children:
None
Life insurance:
Via work scheme, no separate policy
What specific question do you have or what issues are of concern to you?
Our previous financial goal was to pay off the mortgage. Now that is done our next goal is to plan for early retirement around 50. We plan to do that by maxing pension contributions and saving/investing
We have 2 questions we'd love some advice on:
1. We're working the numbers to try and see if early retirement is achievable. Any input would be appreciated. Or even questions to get us thinking the right way.
2. Apart from the pensions and the savings regime we are not sure how best to invest our money to further this goal. Basically we're good savers but not so great investors!
The 220k in various accounts is not really doing anything, so trying to find a home for that is a priority. We're somewhat paralyzed with indecision on what to do here.
- We think that translating some/most of that into ETFs is probably the way forward, but concerns about the current market means we're dripping the money in rather than buying in bulk. We're also somewhat concerned about the safety of those ETFs if Degiro was to have an upset and we had a large holding.
- Investing in a fund (Zurich, Irish Life etc) would also be an option but the 8 year deemed disposal and tax treatment doesn't seem to make this attractive vs the ETF option.
- Direct share investment is not something we're confident on our ability to do well (hence the ETF indexed funds approach)
Not sure what other options are out there, I guess we are somewhat risk-averse and scared to commit to something high risk. Again any advice would be appreciated
Thanks for reading!