ThreeKings
New Member
- Messages
- 1
Age: 32
Spouse’s/Partner's age: 31
Annual gross income from employment or profession: €80,000 + yearly bonus ( approx. €5k/€7k)
Annual gross income of spouse: €48,000
Monthly take-home pay. €4,100, partner €2,800
Type of employment: e.g. Private & Semi State
In general are you:
(a) spending more than you earn, or
(b) saving? Saving €2,000pm & partner saves €1,000pm
Rough estimate of value of home. Renting, €800 per month (sharing house)
Amount outstanding on your mortgage: n/a
Other borrowings – car loans/personal loans etc: Neither of us have any loans
Do you pay off your full credit card balance each month? Neither have credit card
Savings and investments:
€70,000 savings account
Partner: €10,000 savings account
Do you have a pension scheme? Yes, €35,000 pot (7% contribution. Employer contributes 14%). Partner €8,000 pot ( 5% contribution, employer 5%)
Do you own any investment or other property? No
Ages of children: None
Life insurance: Yes 3 times salary for both through work
What specific question do you have or what issues are of concern to you?
It would be great to get any opinions on the above.
Thanks!!
Spouse’s/Partner's age: 31
Annual gross income from employment or profession: €80,000 + yearly bonus ( approx. €5k/€7k)
Annual gross income of spouse: €48,000
Monthly take-home pay. €4,100, partner €2,800
Type of employment: e.g. Private & Semi State
In general are you:
(a) spending more than you earn, or
(b) saving? Saving €2,000pm & partner saves €1,000pm
Rough estimate of value of home. Renting, €800 per month (sharing house)
Amount outstanding on your mortgage: n/a
Other borrowings – car loans/personal loans etc: Neither of us have any loans
Do you pay off your full credit card balance each month? Neither have credit card
Savings and investments:
€70,000 savings account
Partner: €10,000 savings account
Do you have a pension scheme? Yes, €35,000 pot (7% contribution. Employer contributes 14%). Partner €8,000 pot ( 5% contribution, employer 5%)
Do you own any investment or other property? No
Ages of children: None
Life insurance: Yes 3 times salary for both through work
What specific question do you have or what issues are of concern to you?
- I had planned to buy a house at home in Clare this year and commute to Dublin when required approx. 2 days a fortnight for work. But due to a large piece of work that I now need to be on site for this isn't possible for another 1.5 years.
- I'm now considering buying an apartment in Dublin for €250k and leasing one of the rooms to a friend for €700pm who would be interest. In 1.5 years I would then rent out the apartment approx. €1,800 pm and purchase a house in Clare approx. €400k.
- Am I putting myself under unnecessary financial pressure buying the apartment in Dublin when our rent is currently very reasonable or would this be a wise investment.
- Or should I just concentrate on buying the home in Clare and move surplus savings to my pension.
It would be great to get any opinions on the above.
Thanks!!