Dalai_Alpaca
Registered User
- Messages
- 4
Love reading this site. Am hoping for some insights.
Age: 45
Spouse’s/Partner's age: 46
Annual gross income from employment or profession: 64K
Annual gross income of spouse: 50K
Monthly take-home pay: €1,500 fortnightly, spouse - not sure ((!)
Type of employment: Both public sector
In general are you:
(a) spending more than you earn, or
(b) saving?
saving
Rough estimate of value of home: 250,000
Amount outstanding on your mortgage: 145,000
What interest rate are you paying?: 3.15%
Other borrowings – car loans/personal loans etc
None
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:
Prize bonds: €5K
AIB: €101K
PTSB: €5K
Do you have a pension scheme?
Yes, both public sector DB schemes. However neither will have the full 40yrs service...one 37 yrs..one approx 35yrs (don't know exact as due to parental leave)
Do you own any investment or other property?
No
Ages of children:
12 & 8
Life insurance:
Minimal mortgage prot
Also have income protection on the higher salary
What specific question do you have:
The obvious problem is the large sum in various AIB a/C's that are earning virtually nothing. They all started off well - various on demand / regular savings accounts etc..- but rates have steadily been eroded to make them worthless.
Am currently overpaying mortgage to the tune of €150 per week.
Should we attack the mortgage more?
Should we look at saving more for pension (this confuses me so I haven't given this any proper thought...I don't know really understand how AVCs work)?
Should we look at state savings? (A cursory glance at the rates doesn't excite me). Although the tax free end of things is nice.
Should we look at shares? Haven't a clue about these so a managed fund would probably be the only option. But are these heavy on the fees side?
Should we consider property?
We'll, hopefully, have to fund two children through university in a few years time. What's the best way to plan for this?
We're all ears.
Age: 45
Spouse’s/Partner's age: 46
Annual gross income from employment or profession: 64K
Annual gross income of spouse: 50K
Monthly take-home pay: €1,500 fortnightly, spouse - not sure ((!)
Type of employment: Both public sector
In general are you:
(a) spending more than you earn, or
(b) saving?
saving
Rough estimate of value of home: 250,000
Amount outstanding on your mortgage: 145,000
What interest rate are you paying?: 3.15%
Other borrowings – car loans/personal loans etc
None
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:
Prize bonds: €5K
AIB: €101K
PTSB: €5K
Do you have a pension scheme?
Yes, both public sector DB schemes. However neither will have the full 40yrs service...one 37 yrs..one approx 35yrs (don't know exact as due to parental leave)
Do you own any investment or other property?
No
Ages of children:
12 & 8
Life insurance:
Minimal mortgage prot
Also have income protection on the higher salary
What specific question do you have:
The obvious problem is the large sum in various AIB a/C's that are earning virtually nothing. They all started off well - various on demand / regular savings accounts etc..- but rates have steadily been eroded to make them worthless.
Am currently overpaying mortgage to the tune of €150 per week.
Should we attack the mortgage more?
Should we look at saving more for pension (this confuses me so I haven't given this any proper thought...I don't know really understand how AVCs work)?
Should we look at state savings? (A cursory glance at the rates doesn't excite me). Although the tax free end of things is nice.
Should we look at shares? Haven't a clue about these so a managed fund would probably be the only option. But are these heavy on the fees side?
Should we consider property?
We'll, hopefully, have to fund two children through university in a few years time. What's the best way to plan for this?
We're all ears.