Age: 65
Spouse’s/Partner's age: 61
Annual gross income from employment or profession: 48k Euro
Annual gross income of spouse: 32k Euro (spouse retired in last 12 months)
Monthly take-home pay 5k Euro
Type of employment: e.g. Civil Servant, self-employed Both retired
In general are you:
(a) spending more than you earn, or
(b) saving? Saving approx. 1.5k Euro a month (in normal times ignoring COVID)
Rough estimate of value of home 400k Euro
Amount outstanding on your mortgage: 0
What interest rate are you paying? N/A
Other borrowings – car loans/personal loans etc N/A, see investment property details below
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card? N/A
Savings and investments: Cash – 200k. Bonds 195k (An Post – 70k and prize bonds – 125k). EIIS 100k (invested 2017-2020). Shares – 70k in 7 Irish/UK companies (purchased for 85k).
Do you have a pension scheme? Yes see above – Defined benefit with spouse getting 50% on my death. Spouse defined benefit also but with no benefit on her death.
Do you own any investment or other property? Investment 2 bed apartment – 30 year tracker mortgage of approx. 55k. Interest rate is 1.6%. Value of property is 155k. Very little capital gain was bought for 130k 12 years ago. Covers itself with long term tenant paying 820 per month. Management fees expensive so no profit after tax etc. Thinking of selling this in next number of years.
Ages of children: 3 – mid 20’s. All finished college and self-sufficient (but working from home at the moment)
Life insurance: I have none. Wife – 300k. Term is until aged 65.
What specific question do you have or what issues are of concern to you?
As you can see above we are well able to live quite comfortable off salaries.
1. Since the financial crises we have accumulated capital losses on shares of 100k (recorded with Revenue). Would you have any recommendations of diversified equity instruments that we could invest in to start recouping some of these losses over the next 10/15 years? I believe the likes of Zurich and Irish Life have products that are liable to exit tax at 41% (not CGT @ 33%) so trying to avoid these companies. We are looking to invest about 200k.
2. Plans for future: considering purchasing a small property by the coast for approx. 100k and eventually help children with deposits for first house (within next 5 years).
Appreciate any help or guidance you could provide. Thanks
Spouse’s/Partner's age: 61
Annual gross income from employment or profession: 48k Euro
Annual gross income of spouse: 32k Euro (spouse retired in last 12 months)
Monthly take-home pay 5k Euro
Type of employment: e.g. Civil Servant, self-employed Both retired
In general are you:
(a) spending more than you earn, or
(b) saving? Saving approx. 1.5k Euro a month (in normal times ignoring COVID)
Rough estimate of value of home 400k Euro
Amount outstanding on your mortgage: 0
What interest rate are you paying? N/A
Other borrowings – car loans/personal loans etc N/A, see investment property details below
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card? N/A
Savings and investments: Cash – 200k. Bonds 195k (An Post – 70k and prize bonds – 125k). EIIS 100k (invested 2017-2020). Shares – 70k in 7 Irish/UK companies (purchased for 85k).
Do you have a pension scheme? Yes see above – Defined benefit with spouse getting 50% on my death. Spouse defined benefit also but with no benefit on her death.
Do you own any investment or other property? Investment 2 bed apartment – 30 year tracker mortgage of approx. 55k. Interest rate is 1.6%. Value of property is 155k. Very little capital gain was bought for 130k 12 years ago. Covers itself with long term tenant paying 820 per month. Management fees expensive so no profit after tax etc. Thinking of selling this in next number of years.
Ages of children: 3 – mid 20’s. All finished college and self-sufficient (but working from home at the moment)
Life insurance: I have none. Wife – 300k. Term is until aged 65.
What specific question do you have or what issues are of concern to you?
As you can see above we are well able to live quite comfortable off salaries.
1. Since the financial crises we have accumulated capital losses on shares of 100k (recorded with Revenue). Would you have any recommendations of diversified equity instruments that we could invest in to start recouping some of these losses over the next 10/15 years? I believe the likes of Zurich and Irish Life have products that are liable to exit tax at 41% (not CGT @ 33%) so trying to avoid these companies. We are looking to invest about 200k.
2. Plans for future: considering purchasing a small property by the coast for approx. 100k and eventually help children with deposits for first house (within next 5 years).
Appreciate any help or guidance you could provide. Thanks