Do you expect this to change?Number and age of children: 0
No, this will stay as isDo you expect this to change?
This is the major factor in calculations I think.
We are hoping to switch soon yes to Avant, and fix for a while there.Have you looked into breaking out of that mortgage and fixing at a lower rate? Rates are only going to go one way and if you are waiting until that fixed term ends in 3 years i dont think youll see anything like the rates currently available. And that annual bonus is it gross or net?
You are leaving a lot of allowable pension contributions on the table only putting 5% in.
The most benefit will be AVCs and putting your bonus in as part of that (you want to use up your allowance if you can, should around 29k give or take)We are hoping to switch soon yes to Avant, and fix for a while there.
Bonus will be gross, obviously taxes would apply then if I took as cash so would be more tax beneficial to use that bonus another way.
Re the pension, yes I have been slightly averse to AVCs or extra contributions up until now but I think I probably should start.
RSUs are often locked up.Offload company shares and clear the car loan.
Yes these are fair points. Partner does have pension, but it’s a small pot which is building slowly now.Reading down through this, you've a couple of significant issues to address
- your partner is self-employed in a multinational, I presume as a contractor. I also don't see any pension for them so that would be one of the first things to consider, their pension, life insurance etc.
- You've no real rainy day fund and you should focus on building up a small pot, perhaps €15k-€20k to both act as a buffer and give you that element of security and to buy you some time in a crisis. If your spouse is a contractor then their income could be hit if illness occured and they would usually be the first person out the door in a recession, regardless of what their role and with no payoff
Some are locked yes but I do have access to others, and CGT won't be too much of a consideration as the share price has increased only ~10% over the last few yearsRSUs are often locked up.
RSUs are often locked up.
Depends on the car loan interest your paying,it might be a good idea too sell the ones you can.Some are locked yes but I do have access to others, and CGT won't be too much of a consideration as the share price has increased only ~10% over the last few years
Saving more on average ? You take home 8.5k. Reel in your spending to pay off the car loan and save a 15k buffer - priority.(a) spending more than you earn, or
(b) saving?
Saving more on average, but lot of recent large expenditure
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