Age: 43
Spouse’s/Partner's age: 36
Annual gross income from employmentor profession: €100K
Annual gross income of spouse: 0
Monthly take-home pay: €5,500
Type of employment: Private health sector, secure job, 10 years in the same company
In general are you:
(a) spending more than you earn, or No
(b) saving? €2K per month
Rough estimate of value of home: €430K
Amount outstanding on your mortgage: €210K
What interest rate are you paying?: 2.75% - AIB
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?: 0
Savingsand investments: €100K
Do you have a pension scheme? No
Do you own any investment or other property? Yes (Tracker of 0.75%, remaining term 20 yrs. pre tax profit of €12K p/a.)
Ages of children: 3, 10 and 12
Life insurance: to pay the loans only
What specific question do you have or what issues are of concern to you?
1 - re investment property: I had a question about if I should sell the investment property. I didn't realise that I could ask all of my stupid question in this section and posted this question in another section yesterday. I got the answer that I should hang onto this property for now as it generates gross profit of €12K p.a. and all of the net proceeds are being used in full to pay off the capital.
2 - re pension: I never joined pension. Being a single earner, i always wanted to have max take home money (perhaps being stupid). Employer can match up to 5% of the contribution. Should I must join the pension now? is it too late or better late than never?
3 - re mortgage of PPR: Should I pay lump off the mortgage? and how much should I pay off? Should I increase the monthly repayment amount or just pay the lump sum once a year?
Spouse’s/Partner's age: 36
Annual gross income from employment
Annual gross income of spouse: 0
Monthly take-home pay: €5,500
Type of employment: Private health sector, secure job, 10 years in the same company
In general are you:
(a) spending more than you earn, or No
(b) saving? €2K per month
Rough estimate of value of home: €430K
Amount outstanding on your mortgage: €210K
What interest rate are you paying?: 2.75% - AIB
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?: 0
Savings
Do you have a pension scheme? No
Do you own any investment or other property? Yes (Tracker of 0.75%, remaining term 20 yrs. pre tax profit of €12K p/a.)
Ages of children: 3, 10 and 12
Life insurance: to pay the loans only
What specific question do you have or what issues are of concern to you?
1 - re investment property: I had a question about if I should sell the investment property. I didn't realise that I could ask all of my stupid question in this section and posted this question in another section yesterday. I got the answer that I should hang onto this property for now as it generates gross profit of €12K p.a. and all of the net proceeds are being used in full to pay off the capital.
2 - re pension: I never joined pension. Being a single earner, i always wanted to have max take home money (perhaps being stupid). Employer can match up to 5% of the contribution. Should I must join the pension now? is it too late or better late than never?
3 - re mortgage of PPR: Should I pay lump off the mortgage? and how much should I pay off? Should I increase the monthly repayment amount or just pay the lump sum once a year?