Personal details
Age: 33
Spouse’s/Partner's age: 34
Number and age of children:
1 x 18 months
1 x due in summer
...Damn they're expensive ... but would be keen to have 3 or 4 in total
Income and expenditure
Annual gross income: 125k + 20% bonus - may get 10 to 20% uplift in core in summer
Annual gross income of spouse: 50k
Monthly take-home pay: Approx 8900e
Both privately employed
Saving approx 3500 per month
Summary of Assets and Liabilities
Family home worth approx: 520k
Mortgage: Approx 318k
Cash: €120k
Pension fund: Approx 100k
Family home mortgage information
Lender: PTSB
Interest rate: 2.8% fixed finishing August 2022
Other borrowings – car loans/personal loans etc
Don't have a credit card
Wife keen on bigger car in 2022 though - approx 30k budget needed if we trade in
Buy to let properties
None
Other savings and investments:
Both have pension scheme
Me: 6% me + 8% employer + 2% on AVCs
Partner: 5% her + 5% employer
Other information which might be relevant
Mortgage protection
Employer death in service - 10x my gross
However
No private healthcare
No illness income protection
What specific question do you have or what issues are of concern to you?
Current end of 2022 plan is to:
- Pay 120k off mortgage
- Buy new car at 30k
- Keep small rainy fund of 10k or so
This assumes bonus in summer of net 12k & hitting saving targets
Does this plan make sense?
Should I take action on anything else?
Age: 33
Spouse’s/Partner's age: 34
Number and age of children:
1 x 18 months
1 x due in summer
...Damn they're expensive ... but would be keen to have 3 or 4 in total
Income and expenditure
Annual gross income: 125k + 20% bonus - may get 10 to 20% uplift in core in summer
Annual gross income of spouse: 50k
Monthly take-home pay: Approx 8900e
Both privately employed
Saving approx 3500 per month
Summary of Assets and Liabilities
Family home worth approx: 520k
Mortgage: Approx 318k
Cash: €120k
Pension fund: Approx 100k
Family home mortgage information
Lender: PTSB
Interest rate: 2.8% fixed finishing August 2022
Other borrowings – car loans/personal loans etc
Don't have a credit card
Wife keen on bigger car in 2022 though - approx 30k budget needed if we trade in
Buy to let properties
None
Other savings and investments:
Both have pension scheme
Me: 6% me + 8% employer + 2% on AVCs
Partner: 5% her + 5% employer
Other information which might be relevant
Mortgage protection
Employer death in service - 10x my gross
However
No private healthcare
No illness income protection
What specific question do you have or what issues are of concern to you?
Current end of 2022 plan is to:
- Pay 120k off mortgage
- Buy new car at 30k
- Keep small rainy fund of 10k or so
This assumes bonus in summer of net 12k & hitting saving targets
Does this plan make sense?
Should I take action on anything else?