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Oh ok, apologies, if she's using the income from rent to boost her to the 25% max of 61k earned income then I get it. OP can clarify.

Ok but the 25% makes no odds, as it could be 50% or 10% given she's not getting tax relief on it, or certainly shouldn't be. 25% is only relevant if she's claiming tax relief as it's the max amount she can claim on salary given her age bracket.

I would imagine with potential rental income of 18k p.a that OP BTL is in an RPZ...but good point nonetheless. Not sure what you mean by maximum tax free amount if OP is not claiming tax relief? One can contribute whatever they wish as AVCs anyway if they're not claiming tax relief, so I don't...

A couple things to note that could and will cause you significant issues down the line if you don't address asap: 1. You can't get tax relief on AVCs from rental income (as it's 'unearned income'), so having done so already means your tax returns are not accurate. 2. You cannot increase the rent...

You either submit a revenue tax form to the foreign bank(tax residency form I think but covered off in other threads) and therefore only pay DIRT in Ireland or you do nothing and only pay DIRT in Ireland minus what you already paid to foreign bank. So you still pay 33% tax on interest either way.

Your personal allowance for tax relief is 25%, so what company contribute is irrelevant. So you can invest a further 20% on top of the 5% to answer your question.

Well I would immediately ask why does the divorce need to cost 10k? It seems like it's amicable and everything will be 50/50. There are companies online that do it for 500 odd euro I think. Might be worth looking into.

It's actually €1.36m as holiday home of 110k is on top of figures quoted. Seriously impressive.

I think the headline here is misleading. You have over 600k in net wealth plus pension value. You are not a hard luck case. If you are struggling on a day to day basis then you really need to consider moving to a 'cheaper' house. With that income and that house value you really shouldn't be...

You have 50k equity in your PPR and 105k equity in investment properties. You have 45k cask so 200k positive equity in total. If this was a situation where your house value was 400k with 200k mortgage then it wouldn't be a worrying situation. Therefore sell the investment properties asap and...

I think your plan is prudent and spot on. You'll be mortgage free in 10 years, retired in 20 years with 17k per annum pension plus AVCs (which in 20 years time could be very significant as you are contributing max amount). You'll also have pretty significant savings at that stage with no...

Hi Gthyre, my calcualtion of 20k per annum came from you stating in your first post that your total income is 2700 per month and savings are 2 x 500 euro per month, hence living expenses of 1700 x 12 = 20,400. You hadn't mentioned child benefit or your partner's maternity pay. Still, 27k per...

I'm confused by this. So does your wife have an income that you haven't mentioned above (maternity pay maybe?) Like others have said, I'm not sure how a family of four live on 20k per annum. Kids are young but there's food, electricity, heating costs, car fuel, broadband, mobiles, car tax and...

You're in a really strong place financially, ie with assets of 1.35m (exc. pension) and children who are pretty much independent and not costing an arm and a leg. The move to England would be a very big one . I assume it's also a lifestyle choice and maybe you're from there originally? I say...

Yes, it's all relative. Main thing I think is to live comfortably and responsibly instead of striving to die rich! There's no hitch on a hearse...

It's how long is a piece of string for sure though also as mentioned by previous poster. I mean it depends on quantity and quality of family holidays, quality of house and maintenance of same, same for cars, attitude towards Christmas spend, attitude towards eating out...if kids are heavily...

That would make sense...and bare minimum is very true! I'd imagine a family of four solely reliant on social welfare would get around 500 euro per week (inc. increases for children). That's 26k per year. Assuming same family is on rent allowance or council housing etc that would mean they have...

2k a month is not possible...I mean maybe you could feed a family, pay utilities and get them all from A to B but that's about it. Not being able to go on holidays, have a decent Christmas, decent birthdays/presents, sports associated costs, clothes etc etc...and all that's before you have a...

We're about the same, ie 4k per month for a family of five...major costs are fuel for cars and food. It includes everything except mortgage/childcare so includes all household bills, Christmas, family holidays, all kids related stuff (sports, school related costs, birthdays, communions...

Congrats on very healthy financial position. You can't remortgage an investment property and claim tax relief on it for works on PPR. Like others said, no point paying interest on car loan while earning zero interest on deposit. This is costing you money. Clear car loan and do renovations with...