Age: 29
Spouse’s/Partner's age: 28
Annual gross income from employment or profession: €110,000 €27,500 bonus per annum
Annual gross income spouse:NA
Type of employment: employed
Expenditure pattern: not spending more than we are earning but not saving as much as we should be right now
Rough estimate of value of home:€520,000
Mortgage on home:€320,000
Mortgage provider:First active
Type of mortgage: Tracker
Interest rate: .95% above ECB
Other borrowings – car loan €16,000
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: €17k in cash, €73k in vested share plan(non approved, outright share plan) before tax
October 08 based on current share price: €68k before tax
October 09 based on current share price: €68k before tax
Do you have a pension scheme? Yes
Contributing 10% myself and employer contributing 5% roughly €1300 per month
Do you own any investment or other property? No
Ages of children: 5 months
Life insurance: yes 3 times salary and mortgage cover
What specific question do you have or what issues are of concern to you?
Although I find myself in a decent position for the most part I would like some advice in regards to what i should be doing regarding savings and pensions. I know that i spend way too much on day to day luxuries which i am looking to cut back on but can you give me some on advice on how i could best put my money to work. Should i put my savings off the mortgage, cash in shares and put them off the mortgage. The shares and the industry i work are quite volatile so this might be an idea. Any thoughts? Please feel free to ask any questions.