Age: 35
Spouse’s/Partner's age: 35
Annual gross income from employment or profession: 41k
Annual gross income spouse: 60k
Type of employment: both permanent in public sector
Expenditure pattern: In general are you spending more than you earn or are you saving? no
Rough estimate of value of home: 350k
Mortgage on home : 102k repayments incl. insurance 700 a month and paying off an extra 400 on top of repayment per month. 6000 in mortgage account reserved for "just in case" we won't be able to make repayments for about a year.
Mortgage provider EBS
Type of mortgage: Tracker
Interest rate 4.85%
Other borrowings – 0
Do you pay off your full credit card balance each month? yes
If not, what is the balance on your credit card? 0
Savings and investments: 35,000. Currently saving approx 1000 per month to high interest BOI account, and 450 to joint account for expenses and holidays etc.
Do you have a pension scheme? Yes - both of us do with work.
Do you own any investment or other property? no
Ages of children: one due in April 2008!
Life insurance: I have none, husband has excellent policy.
What specific question do you have or what issues are of concern to you?
We want to optimise our savings, insurance cover etc etc as we are about to have a child. We know we are in an excellent position financially re. no loans, good savings, low mortgage.
We have always been very careful as I have a long-term illness that may, or may not effect my employment - basically I have no way of knowing whether or not I can continue working fulltime in the years to come, so we have saved lots in order to cover for the worse case scenario. This may also effect me getting life insurance and I have avoided dealing with this situation. I would like to go back to work fulltime by Jan 2009 if my health is up to it, after my maternity leave. Creche will cost circa 700 (subsidised). Husband will need to replace current car this year (12 yrs old now) sometime, spend about 20k on replacement.
Thanks for any advice you can offer - as this is quite a complex question I appreciate we may just need to go to an independent financial advisor, and I'm looking into that.
Spouse’s/Partner's age: 35
Annual gross income from employment or profession: 41k
Annual gross income spouse: 60k
Type of employment: both permanent in public sector
Expenditure pattern: In general are you spending more than you earn or are you saving? no
Rough estimate of value of home: 350k
Mortgage on home : 102k repayments incl. insurance 700 a month and paying off an extra 400 on top of repayment per month. 6000 in mortgage account reserved for "just in case" we won't be able to make repayments for about a year.
Mortgage provider EBS
Type of mortgage: Tracker
Interest rate 4.85%
Other borrowings – 0
Do you pay off your full credit card balance each month? yes
If not, what is the balance on your credit card? 0
Savings and investments: 35,000. Currently saving approx 1000 per month to high interest BOI account, and 450 to joint account for expenses and holidays etc.
Do you have a pension scheme? Yes - both of us do with work.
Do you own any investment or other property? no
Ages of children: one due in April 2008!
Life insurance: I have none, husband has excellent policy.
What specific question do you have or what issues are of concern to you?
We want to optimise our savings, insurance cover etc etc as we are about to have a child. We know we are in an excellent position financially re. no loans, good savings, low mortgage.
We have always been very careful as I have a long-term illness that may, or may not effect my employment - basically I have no way of knowing whether or not I can continue working fulltime in the years to come, so we have saved lots in order to cover for the worse case scenario. This may also effect me getting life insurance and I have avoided dealing with this situation. I would like to go back to work fulltime by Jan 2009 if my health is up to it, after my maternity leave. Creche will cost circa 700 (subsidised). Husband will need to replace current car this year (12 yrs old now) sometime, spend about 20k on replacement.
Thanks for any advice you can offer - as this is quite a complex question I appreciate we may just need to go to an independent financial advisor, and I'm looking into that.
