Age:
33
Spouse’s/Partner's age:
31
Annual gross income from employment or profession:
€130k
Annual gross income of spouse:
€60k
Monthly take-home pay:
€9819
Type of employment:
Both private sector
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving
Rough estimate of value of home:
€390,000
Amount outstanding on your mortgage:
€320,000
What interest rate are you paying?
2.65% fixed for three years with KBC. We can pay up to 10% extra off the principal in that time.
Other borrowings – car loans/personal loans etc
None
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
€125k cash
€20k stock locked up in private company
€10k shares in public company
Do you have a pension scheme?
We both recently started PRSAs.
I pay 400/month (3.6k total)
Partner pays 250/month (4.4k total)
No employer matching.
Do you own any investment or other property?
No
Ages of children:
n/a
Life insurance:
Yes
What specific question do you have or what issues are of concern to you?
I now realise having most of our capital as cash sitting in the bank isn't useful. I’d like to put it to work. My understanding of my best options are:
I have three questions I’d really appreciate your thoughts on.
33
Spouse’s/Partner's age:
31
Annual gross income from employment or profession:
€130k
Annual gross income of spouse:
€60k
Monthly take-home pay:
€9819
Type of employment:
Both private sector
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving
Rough estimate of value of home:
€390,000
Amount outstanding on your mortgage:
€320,000
What interest rate are you paying?
2.65% fixed for three years with KBC. We can pay up to 10% extra off the principal in that time.
Other borrowings – car loans/personal loans etc
None
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
€125k cash
€20k stock locked up in private company
€10k shares in public company
Do you have a pension scheme?
We both recently started PRSAs.
I pay 400/month (3.6k total)
Partner pays 250/month (4.4k total)
No employer matching.
Do you own any investment or other property?
No
Ages of children:
n/a
Life insurance:
Yes
What specific question do you have or what issues are of concern to you?
I now realise having most of our capital as cash sitting in the bank isn't useful. I’d like to put it to work. My understanding of my best options are:
- Pay off mortgage
- Max out pension
- Invest in index funds
- Invest in [other]?
I have three questions I’d really appreciate your thoughts on.
- How should I allocate my existing funds currently in the bank?
- How should I think about allocation of all future income?
- What other avenues of investing would you recommend I investigate?