Are you worried about it being too small or too big?I am conscious of my current pension pot and wondering if I should worry based on the value v current age
Have you looked in to how far €1m goes in D6/4? 3 bed homes that require a lot of work can go for this much in that area.I am also weighing up disposing of my current house and making a purchase of 1M in and area I would like to live in
€1 million is still a lot of house for a sole occupant even in Dublin 4 or Dublin 6.preferably somewhere within D6/D4 and surrounding areas.
Go for it, you can afford it, and if your earnings keep at this level or increasing it’ll seem cheap in the future imo.Personal details
First time poster but long term reader of this forum:
Age:34
Spouse’s/Partner's age: n/a
Number and age of children: n/a
Income and expenditure
Annual gross income from employment or profession: €160,000 - MNC Private sector. Annual Bonus 30% [Not guaranteed]
Monthly take-home pay Approx 7.5k [after pension contribution]
Type of employment: e.g. Civil Servant, self-employed: MNC Private sector
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving approx €3000 a month, likely to increase as weighing up trade up in property.
Summary of Assets and Liabilities
Family home worth €460K - mortgage- 180K
Cash of €130,000 (this is held in deposit accounts)
Defined Contribution pension fund: DC pension of €180k [split across three DC pension schemes and one PRSA scheme from previous employers]
Employer contribution of 8% - I currently contribute 8 % out of my salary but top this up to max out my 20% annually
Company shares : €150K [Unvested company shares of 380K, vesting over the next 3 years
Personal share investments outside of pension fund: 3K
No other loans or credit card debt.
What specific question do you have or what issues are of concern to you?
I am currently in a senior role within a large MNC, the role is enjoyable but stressful and I am conscious I have a high income for my age group. I am considering moving from PPR which is just outside Dublin to an area in South County Dublin, preferably somewhere within D6/D4 and surrounding areas. My question is two fold, I am conscious of my current pension pot and wondering if I should worry based on the value v current age and if anyone has other tax efficient ways of increasing/ saving for the future.
I am also weighing up disposing of my current house and making a purchase of 1M in an area I would like to live in. I would use most of my current savings, equity and company shares + a large mortgage of 4 times income. I would then plan to pay off large chunks of the mortgage as/when shares vest and during my annual bonus payouts. The alternative would be to keep my existing property and buy something more modest in Dublin for about 600K but I rather not be a part time landlord. I am conscious I could be saving more per month - I currently overpay my mortgage by 10% with 14 years remaining. I spend a significant proportion on my income on holidays and experiences.
Based on your cash, company shares, home equity and unvested shares (assuming no collapse) you have €940k of short term realisable wealth (less taxes on the unvested part or have your quoted net amount?).Personal details
First time poster but long term reader of this forum:
Age:34
Spouse’s/Partner's age: n/a
Number and age of children: n/a
Income and expenditure
Annual gross income from employment or profession: €160,000 - MNC Private sector. Annual Bonus 30% [Not guaranteed]
Monthly take-home pay Approx 7.5k [after pension contribution]
Type of employment: e.g. Civil Servant, self-employed: MNC Private sector
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving approx €3000 a month, likely to increase as weighing up trade up in property.
Summary of Assets and Liabilities
Family home worth €460K - mortgage- 180K
Cash of €130,000 (this is held in deposit accounts)
Defined Contribution pension fund: DC pension of €180k [split across three DC pension schemes and one PRSA scheme from previous employers]
Employer contribution of 8% - I currently contribute 8 % out of my salary but top this up to max out my 20% annually
Company shares : €150K [Unvested company shares of 380K, vesting over the next 3 years
Personal share investments outside of pension fund: 3K
No other loans or credit card debt.
What specific question do you have or what issues are of concern to you?
I am currently in a senior role within a large MNC, the role is enjoyable but stressful and I am conscious I have a high income for my age group. I am considering moving from PPR which is just outside Dublin to an area in South County Dublin, preferably somewhere within D6/D4 and po surrounding areas. My question is two fold, I am conscious of my current pension pot and wondering if I should worry based on the value v current age and if anyone has other tax efficient ways of increasing/ saving for the future.
I am also weighing up disposing of my current house and making a purchase of 1M in an area I would like to live in. I would use most of my current savings, equity and company shares + a large mortgage of 4 times income. I would then plan to pay off large chunks of the mortgage as/when shares vest and during my annual bonus payouts. The alternative would be to keep my existing property and buy something more modest in Dublin for about 600K but I rather not be a part time landlord. I am conscious I could be saving more per month - I currently overpay my mortgage by 10% with 14 years remaining. I spend a significant proportion on my income on holidays and experiences.
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