Income at 60 and you 53
3700
5000 - how much is this really into your hand? look at last years tax return
12K - ditto
Plus your current income for another five years, getting him to 65 (state pension as far as I know starts at 66), what is this actual net income
Income at 65/67 and you 58
3700
5000 - how much is this really into your hand? look at last years tax return
12K - ditto
His state pension ?
Your Irish life pension will pay out at 58? How much anually
What are you entitled to at 66 in relation to state pension
1. Be careful with the year 65 as state pension age is 66 as far as I know
2. Check with Social welfare pensions both your situations and entitlements to find out if you need to do something to get the full state pension each, might need more prsi contributions
3. Not sure, but if you finish work early are you entitled to contributory dole each for a while - need to check
4. Will need money for two cars at some stage (or maybe only one if no jobs)
5. Rental property 2 is a worry, that's a great income
6. Is your home worth much. Is it too big. Do you need a smalish bungalow going forward
7. Where are you getting the figure of 26K to live on. How much do you both spend annually now ?
8. Will you be bored to tears in retirement. I find 26 K not a lot ! But I guess it depends on what kinds of things you are planning on doing.
Health Insurance
Have you got a good policy, very important in old age