Age: 35
Spouse’s/Partner's age: 39
Annual gross income from employment or profession: 60,000
Annual gross income of spouse: 80,000
Monthly take-home pay: 6,900 (2 salaries)
Type of employment: e.g. Civil Servant, self-employed: Non profit and Education
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving at least 1100 per month - direct debit
Mortgage is 1250 per month
Childcare is 800 per month
Groceries are typically 450 per month, bit less
Anything left over goes into home improvement account
Rough estimate of value of home 470,000
Amount outstanding on your mortgage: 300,000
What interest rate are you paying? 2.2%
Other borrowings – car loans/personal loans etc None
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card?
Savings and investments: Cash 80,000 Shares 40,000 (net)
Do you have a pension scheme? Yes 5% employer, 5% contribution from employee. Spouse has pension scheme with state job since 10 years
Do you own any investment or other property? 2 sites away from where we live , no intention to sell or build on either (complicated family background)
Ages of children: 1 & 2
Life insurance: None
What specific question do you have or what issues are of concern to you?
Hi all, grateful if you can give us a steer on anything we should be doing at this point in time. In particular, should we be using our cash deposit in a better way? And should we sell our shares (all of which are in one company) . Appreciate your insights and any recommendations for this stage of life . Thank you