B
Boxie
Guest
I’ve re-registered under a new name in order to post this (thanks Brendan)
Age:
39
Partner's age:
38
Annual gross income from employment or profession:
Up until now, E70,000.00, From January – maybe nil………
Annual gross income partner:
E50,000.00
Type of employment:
Both private sector employees
Expenditure pattern:
I’m a ‘spender, he’s a 'saver'
Rough estimate of value of home
E445,000 (re-valued c. 4 months ago)
Mortgage on home
E280,000.00 - we've been paying our mortgage for 4 years.
Mortgage provider:
AIB
Type of mortgage: Tracker, interest only, fixed rate
Tracker
Interest rate
4.5% - just reduced
Other borrowings – car loans/personal loans etc
None
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
Me, E5,000 savings in Credit Union. Him, E50,000 – in various savings accounts
Do you have a pension scheme?
Yes, I had been paying E850 p/m into a personal pension
Him - none
Do you own any investment or other property?
No.
Ages of children:
None.
Life insurance:
No
Other info:
We’re based in Dublin, both have cars. Our other regular payments are VHI and accident insurance (E10 per month), usual utilities.
What specific question do you have or what issues are of concern to you?
I’ve just been told I’ll be made redundant in January (statutory payment only). My area of work is specialised and the sector is experiencing an unprecedented downturn so despite 15 odd years experience, I may well be one of many come January in the same situation.
My employer has indicated that there may be some contract work available on an ad hoc basis after my redundancy. If that’s the case, other employers in the sector may also consider this option, and there may some kind of living to be made.
I’ve never been self employed – I’ve no idea how paying tax that way works (but I will check out revenue.ie)
If I only got sporadic work – eg 1 or 2 days a week, by being self employed, would I still be able to sign on on the other days?
What else I should be thinking about? I’m guessing PI insurance.
Any pointers?
Should I suspend the pension payments?
Any good reason to see if we can go interest only on the mortgage for a while? I don't want to the bank a reason to take us off the tracker rate.
Thanks all.
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Age:
39
Partner's age:
38
Annual gross income from employment or profession:
Up until now, E70,000.00, From January – maybe nil………
Annual gross income partner:
E50,000.00
Type of employment:
Both private sector employees
Expenditure pattern:
I’m a ‘spender, he’s a 'saver'
Rough estimate of value of home
E445,000 (re-valued c. 4 months ago)
Mortgage on home
E280,000.00 - we've been paying our mortgage for 4 years.
Mortgage provider:
AIB
Type of mortgage: Tracker, interest only, fixed rate
Tracker
Interest rate
4.5% - just reduced
Other borrowings – car loans/personal loans etc
None
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
Me, E5,000 savings in Credit Union. Him, E50,000 – in various savings accounts
Do you have a pension scheme?
Yes, I had been paying E850 p/m into a personal pension
Him - none
Do you own any investment or other property?
No.
Ages of children:
None.
Life insurance:
No
Other info:
We’re based in Dublin, both have cars. Our other regular payments are VHI and accident insurance (E10 per month), usual utilities.
What specific question do you have or what issues are of concern to you?
I’ve just been told I’ll be made redundant in January (statutory payment only). My area of work is specialised and the sector is experiencing an unprecedented downturn so despite 15 odd years experience, I may well be one of many come January in the same situation.
My employer has indicated that there may be some contract work available on an ad hoc basis after my redundancy. If that’s the case, other employers in the sector may also consider this option, and there may some kind of living to be made.
I’ve never been self employed – I’ve no idea how paying tax that way works (but I will check out revenue.ie)
If I only got sporadic work – eg 1 or 2 days a week, by being self employed, would I still be able to sign on on the other days?
What else I should be thinking about? I’m guessing PI insurance.
Any pointers?
Should I suspend the pension payments?
Any good reason to see if we can go interest only on the mortgage for a while? I don't want to the bank a reason to take us off the tracker rate.
Thanks all.
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