Younginvestor93
Registered User
- Messages
- 130
Age: 27
Spouse’s/Partner's age: Single
Annual gross income from employment or profession: 38000
Monthly take-home pay:
Type of employment: Self Employed- Contractor
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving more than I spend
Rough estimate of value of home: Currently, living at home, looking to buy within 1-2 years.
Amount outstanding on your mortgage:
What interest rate are you paying?
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: 200000 in deposit accounts for deposit on a house. 13000 in global equity ETFs
Do you have a pension scheme? Yes, 6000 euro worth of PRSA with Irish Life. 1 or 1.25% management charge. 95% allocation I think.
Do you own any investment or other property? No
Ages of children: None
Life insurance: None
What specific question do you have or what issues are of concern to you?
1) I need to move my PRSA pension to a better alternative so it grows faster with lower charges.
2) I need to set up a personal pension with the lowest charges on the market and with good aggressive funds so I can grow my pension as much as possible and make max contributions to it every year.
3) I need to figure out how to best buy a house, whether to draw down a mortgage from the bank or to get help from parents who would be able to assist.
4) After all this is done, I can start looking at how to invest my after tax money after the pension is maxed and I have no loans, for example mortgage is paid off.
I have a asked a few questions on these issues in various threads the last few days but I was advised a this forum would be the best to get a complete review based on my personal circumstances.
Thanks in advance to anyone who can help.
Spouse’s/Partner's age: Single
Annual gross income from employment or profession: 38000
Monthly take-home pay:
Type of employment: Self Employed- Contractor
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving more than I spend
Rough estimate of value of home: Currently, living at home, looking to buy within 1-2 years.
Amount outstanding on your mortgage:
What interest rate are you paying?
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: 200000 in deposit accounts for deposit on a house. 13000 in global equity ETFs
Do you have a pension scheme? Yes, 6000 euro worth of PRSA with Irish Life. 1 or 1.25% management charge. 95% allocation I think.
Do you own any investment or other property? No
Ages of children: None
Life insurance: None
What specific question do you have or what issues are of concern to you?
1) I need to move my PRSA pension to a better alternative so it grows faster with lower charges.
2) I need to set up a personal pension with the lowest charges on the market and with good aggressive funds so I can grow my pension as much as possible and make max contributions to it every year.
3) I need to figure out how to best buy a house, whether to draw down a mortgage from the bank or to get help from parents who would be able to assist.
4) After all this is done, I can start looking at how to invest my after tax money after the pension is maxed and I have no loans, for example mortgage is paid off.
I have a asked a few questions on these issues in various threads the last few days but I was advised a this forum would be the best to get a complete review based on my personal circumstances.
Thanks in advance to anyone who can help.
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