Age: 43
Spouse’s/Partner's age: 41
Annual gross income from employment or profession: €123,000
Annual gross income of spouse: €50,000 (spouse currently working part time (50%)
Monthly take-home pay € 6,500
Type of employment: Private sector, public sector (spouse)
In general are you:
(a) spending more than you earn, or
(b) saving?
ans: saving
Rough estimate of value of home: €580,000
Amount outstanding on your mortgage: €210,000
What interest rate are you paying? 0.85% (tracker)
Other borrowings – car loans/personal loans etc None
Do you pay off your full credit card balance each month?
If not, what is the balance on your credit card?
ANS: We have no credit card
Savings and investments:
1. €84,000 (just finished 5 year state savings investments)
2. €28,000 (accumulated sum from monthly regular investment of €750)
3. €10,000 (cash)
Do you have a pension scheme? Yes
me: DC current value €375,000 (company 8.5%, me 4%, AVC 15%)
spouse: DB (may have to make AVC's to make up shortfall in years service)
Do you own any investment or other property? NO
Ages of children: 3 children all under 10
Life insurance:
1. Joint life mortgage protection
2. Term life insurance for single life €339,000 (expires when 65, non convertible)
3. Death in service benefit (4x) and income protection (75%) via my employer
4. Spouse has 2 x salary as death in service benefit and income protection (75%) via employer scheme
What specific question do you have or what issues are of concern to you?
Hi All, I have read many posts on this forum and was wondering whether I could get your views. We have €83K which has just matured from a 5 year state savings investment. I was going to take out another 5 year policy but the return is now so low I am not sure it is wise. I was wondering whether anybody had any thoughts what I should do here?
We are paying a monthly mortgage of €1,800 and an over payment of €500. I also have a DC pension which I am paying 19% of the maximum 25% contribution for my age. I was wondering based on the fact we have a very low tracker (0.85%) is it better to invest the savings, pay off lump sum on mortgage, increase pension or a combination?
We have 3 children so the monthly saver we have (€750) is for any educational needs that might arrive in the future.
Any thoughts appreciated.
Spouse’s/Partner's age: 41
Annual gross income from employment or profession: €123,000
Annual gross income of spouse: €50,000 (spouse currently working part time (50%)
Monthly take-home pay € 6,500
Type of employment: Private sector, public sector (spouse)
In general are you:
(a) spending more than you earn, or
(b) saving?
ans: saving
Rough estimate of value of home: €580,000
Amount outstanding on your mortgage: €210,000
What interest rate are you paying? 0.85% (tracker)
Other borrowings – car loans/personal loans etc None
Do you pay off your full credit card balance each month?
If not, what is the balance on your credit card?
ANS: We have no credit card
Savings and investments:
1. €84,000 (just finished 5 year state savings investments)
2. €28,000 (accumulated sum from monthly regular investment of €750)
3. €10,000 (cash)
Do you have a pension scheme? Yes
me: DC current value €375,000 (company 8.5%, me 4%, AVC 15%)
spouse: DB (may have to make AVC's to make up shortfall in years service)
Do you own any investment or other property? NO
Ages of children: 3 children all under 10
Life insurance:
1. Joint life mortgage protection
2. Term life insurance for single life €339,000 (expires when 65, non convertible)
3. Death in service benefit (4x) and income protection (75%) via my employer
4. Spouse has 2 x salary as death in service benefit and income protection (75%) via employer scheme
What specific question do you have or what issues are of concern to you?
Hi All, I have read many posts on this forum and was wondering whether I could get your views. We have €83K which has just matured from a 5 year state savings investment. I was going to take out another 5 year policy but the return is now so low I am not sure it is wise. I was wondering whether anybody had any thoughts what I should do here?
We are paying a monthly mortgage of €1,800 and an over payment of €500. I also have a DC pension which I am paying 19% of the maximum 25% contribution for my age. I was wondering based on the fact we have a very low tracker (0.85%) is it better to invest the savings, pay off lump sum on mortgage, increase pension or a combination?
We have 3 children so the monthly saver we have (€750) is for any educational needs that might arrive in the future.
Any thoughts appreciated.