R
Royalwe
Guest
I am posting this on behalf of my sister.
Age: 30
Spouse’s/Partner's age: N/A
Annual gross income from employment or profession: 26K
Annual gross income of spouse:
Type of employment: Civil Servant
In general are you:
(a) spending more than you earn, or
(b) saving?...............
Spending more then I earn
Rough estimate of value of home 280K
Amount outstanding on your mortgage: N/A
What interest rate are you paying?
Other borrowings - car loans/personal loans etc
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: Recently received 100k from a life assurance policy
Do you have a pension scheme? Yes
Do you own any investment or other property? No
Ages of children: 10 and 7
Life insurance: Yes
What specific question do you have or what issues are of concern to you?
I recently became a single mother with 2 kids. The life assurance policy has now come through (about 100k) and I'm looking for advise on how best to proceed for my and my kids future.
Firstly, I would like to set up accounts for my children's future so that when they go to college or turn 18 that they will be set up. What would be the best ones to go for?
Secondly, I want to move out of my old house into somewhere new. What would the best way to proceed be? (i.e. sell my current home to buy another, rent it out and take out a mortgage on another house etc)
Age: 30
Spouse’s/Partner's age: N/A
Annual gross income from employment or profession: 26K
Annual gross income of spouse:
Type of employment: Civil Servant
In general are you:
(a) spending more than you earn, or
(b) saving?...............
Spending more then I earn
Rough estimate of value of home 280K
Amount outstanding on your mortgage: N/A
What interest rate are you paying?
Other borrowings - car loans/personal loans etc
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: Recently received 100k from a life assurance policy
Do you have a pension scheme? Yes
Do you own any investment or other property? No
Ages of children: 10 and 7
Life insurance: Yes
What specific question do you have or what issues are of concern to you?
I recently became a single mother with 2 kids. The life assurance policy has now come through (about 100k) and I'm looking for advise on how best to proceed for my and my kids future.
Firstly, I would like to set up accounts for my children's future so that when they go to college or turn 18 that they will be set up. What would be the best ones to go for?
Secondly, I want to move out of my old house into somewhere new. What would the best way to proceed be? (i.e. sell my current home to buy another, rent it out and take out a mortgage on another house etc)