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.
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.
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