Does that then make the total cost 3000 + 200 X 40 weeks = 8000, total 11K?
, the registration fees currently are about 3000 euro then you have accommodation, heat electric, books, food, social money, travel, clothes, you looking at least 200 euro per week while they are in college and no doubt as the years pass prices will continue to increase.
Does that then make the total cost 3000 + 200 X 40 weeks = 8000, total 11K?
Surely it's only the incremental cost, ie college versus sitting at home (unless they're very lucky and get paid work), that's relevant...
Not an expert but the above seems somewhat excessive. If you take current annuity rates then a €150k pension lump sum should give you an annual pension of c. €7.5k per annum. The state pension is €12k per annum so c.€240k pension lump sum should buy you the equivalent amount per annum.
So a couple would be c.€480k...am i missing something? My figures are based on a level payment pension, with minimum guarantee period which is equivalent to state pension terms.
Do you actually need to do anything at all....for the moment. You seem like an active person who has to occupy himself doing something "financial". Are you getting a little bored at the moment and need to be doing something else financial. At one stage everyone thought that bank shares were blue chip shares and look at them now, so thread carefully here. Maybe have the annual holiday with the children while they are still with you. Mine have gone and are all doing well for themselves but you can look back on the holiday.
And if after the leaving cert they are sitting at home unemployed, they still need to be fed, clothed etc...
Surely it's only the incremental cost, ie college versus sitting at home (unless they're very lucky and get paid work), that's relevant...
they can entertain themselves during the summer.
So an annuity is returning 5%. But you risk losing the capital. To get around 12K per annum you'd need to put in capital of nearly 250K. By two people that's 500K, giving one 25K return.
At one stage everyone thought that bank shares were blue chip shares and look at them now, so thread carefully here.
Your net worth exc. pensions went from C. 300k 7 years ago to c. 930k now... That's down to very major property price increases in that time period... So seriously well done
Completely disagree... Speculate to accumulate comes to mind. But without getting into cliches I think it's fair to say that 'bet' paid off far more than 'to a degree'. I get there was a certain degree of luck but at the end of the day they are far, far wealthier than what they would be if they hadn't speculated in property... So that deserves credit no matter how we look at it. It's a timing thing and it paid off for OP. If he had invested in the stock market and got these returns would he have been 'reckless'? Markets fluctuate just like property but certain people do well out of it. That often requires some skill as well as luck hence why I give the credit to OP. It can be argued that OP was too heavily invested in property... But hey, it paid off, hugely so!I wouldn’t go as far to say “well done”. Cremeegg was reckless and doubled-down. The bet paid off, to a degree. But now’s the time to de-risk. Is there a plan to deal with the ‘interest only’ periods ending? What happens if prices fall? Why the need for new cars? Why the expensive borrowings at 6.5%?
Some of those properties should be sold to de-risk would be my tuppence.
Cremeegg, do you have full State Pension entitlement?
The yield on BTL 2 is pretty poor at just over 4%.
The yields on the rest of them look pretty good.