Personal details
Your age: 57 in Nov
Your spouse's age: Separated (neither have any further ties to pensions etc. in future)
Partner's age if not married: n/a
Number and age of children: 2
Annual gross income from employment or profession: 135k + bonus c. 25-35k
Maint. 9600 (50% will stop May 2029 and remainder c. 2 yrs later)
Monthly take-home pay: 5,194 + 800 maint = 5,994
Type of employment - Employed
Employer type: Private Company
In general are you: saving 3k pm but realistically with outgoings (including current college) it nets to 1,300pm.
Summary of Assets and Liabilities
Family home value: 360k no mortgage
Cash: 80k
Total net assets: 440k
Other borrowings – None and no credit card
Pension information
1. Old private pension fund retires at 60 @ 10/07/2026 value 99,848 no more contributions
2. Old public sector DB pension retires at 65 –pension statement on 1st Jan 2026 states lump sum of 58k and pension of 12k.
3. Current company pension retires at 65 @ 10/07/2026 value 140,285
I contribute the max % allowed pa (funded via 25% wages and the balance from bonus at year/end) and will continue to do so . Company pays 10%
4. I will qualify for full Irish state pension at 66
5. I will qualify for the full UK state pension at 67
Value of pension fund: no idea how to value it but I think it looks like I should be reasonably okay at retirement.
Other savings and investments: None
What specific question do you have or what issues are of concern to you?
Conscious that I am closer to retirement than not! Given my background of nothing, to money, to nothing to where I am now I am pretty risk adverse.
Your age: 57 in Nov
Your spouse's age: Separated (neither have any further ties to pensions etc. in future)
Partner's age if not married: n/a
Number and age of children: 2
- 20 yr old about to start 2nd year in 4 year college course. Living away. Costs c. 20kpa.
- 18 yr old going into LC this Sep 2026. Wants to be a pilot – route unknown but favours quick route without going through specific airline (TBC)
Annual gross income from employment or profession: 135k + bonus c. 25-35k
Maint. 9600 (50% will stop May 2029 and remainder c. 2 yrs later)
Monthly take-home pay: 5,194 + 800 maint = 5,994
Type of employment - Employed
Employer type: Private Company
In general are you: saving 3k pm but realistically with outgoings (including current college) it nets to 1,300pm.
Summary of Assets and Liabilities
Family home value: 360k no mortgage
Cash: 80k
Total net assets: 440k
Other borrowings – None and no credit card
Pension information
1. Old private pension fund retires at 60 @ 10/07/2026 value 99,848 no more contributions
2. Old public sector DB pension retires at 65 –pension statement on 1st Jan 2026 states lump sum of 58k and pension of 12k.
3. Current company pension retires at 65 @ 10/07/2026 value 140,285
I contribute the max % allowed pa (funded via 25% wages and the balance from bonus at year/end) and will continue to do so . Company pays 10%
4. I will qualify for full Irish state pension at 66
5. I will qualify for the full UK state pension at 67
Value of pension fund: no idea how to value it but I think it looks like I should be reasonably okay at retirement.
Other savings and investments: None
What specific question do you have or what issues are of concern to you?
Conscious that I am closer to retirement than not! Given my background of nothing, to money, to nothing to where I am now I am pretty risk adverse.
- Is there anything I can do better to generate more returns. Currently the 80k is not invested (due to fear). What is the best thing to do with say 50k given I potentially only have a year before 2nd child needs funds. I am hoping college student gets a job this year to contribute somewhat but for personal reasons that may not be possible.
- What is the best use of the 1st private pension of c. 100k that is available once I turn 60 given that no matter what I will be paying high rate of tax.
- Am I missing anything I should be planning /doing now to reduce taxes in the future?
