Personal details
Your age: 36
Your spouse's age: 36
0 kids and no kids incoming, ever.
Income and expenditure
Annual gross income from employment or profession: 100k
Annual gross income of spouse/partner: 45k (new job, previously 15k or so)
Type of employment - Employee private company
In general are you:
(a) spending more than you earn, or
(b) saving?
C - Maxing out pension and investing 750e monthly into stocks.
Summary of Assets and Liabilities
Family home value: 270k
Mortgage on family home: 0 - recently paid off.
Cash 200k
Company shares : 30k
Pension information
Value of AVC pension fund: 80k - have only come home to Ireland recently, hence low pension.
Defined benefit pension if I stay with company, worth about 30k a year on retirement.
Other savings and investments:
60k in stocks
15k in cash
Second home worth 240k rented out for 1550 a month - mortgage paid off.
What specific question do you have or what issues are of concern to you?
We are obviously in a comfortable position, I would like to find a different role in the next 4 years or so, it's likely that I would make about 40k a year after that. Recently everyone in my small family died in a car accident, leaving me with the second house (to be rented out at 1550) and about 400k in cash, I'll use 200k to pay off my mortgage but I'm thinking to buy a second house/apartment with a mortgage.
My main thinking is that I would never get that sort of leverage for any other investment. I'm obviously very exposed to Irish market, and questions remain over this governments ability to commit to their newly announced plans. Every thread I read from the last few years warned against investing in property because of the incoming SF government so I'll take political predictions with a grain of salt. I'm more interested in the leveraged play.
I understand this move isn't for everyone. I don't enjoy my job and would like to move to something more meaningful and I view this as a way to potentially keep a similar level of income as I transition away from my current industry. Thoughts?
Your age: 36
Your spouse's age: 36
0 kids and no kids incoming, ever.
Income and expenditure
Annual gross income from employment or profession: 100k
Annual gross income of spouse/partner: 45k (new job, previously 15k or so)
Type of employment - Employee private company
In general are you:
(a) spending more than you earn, or
(b) saving?
C - Maxing out pension and investing 750e monthly into stocks.
Summary of Assets and Liabilities
Family home value: 270k
Mortgage on family home: 0 - recently paid off.
Cash 200k
Company shares : 30k
Pension information
Value of AVC pension fund: 80k - have only come home to Ireland recently, hence low pension.
Defined benefit pension if I stay with company, worth about 30k a year on retirement.
Other savings and investments:
60k in stocks
15k in cash
Second home worth 240k rented out for 1550 a month - mortgage paid off.
What specific question do you have or what issues are of concern to you?
We are obviously in a comfortable position, I would like to find a different role in the next 4 years or so, it's likely that I would make about 40k a year after that. Recently everyone in my small family died in a car accident, leaving me with the second house (to be rented out at 1550) and about 400k in cash, I'll use 200k to pay off my mortgage but I'm thinking to buy a second house/apartment with a mortgage.
My main thinking is that I would never get that sort of leverage for any other investment. I'm obviously very exposed to Irish market, and questions remain over this governments ability to commit to their newly announced plans. Every thread I read from the last few years warned against investing in property because of the incoming SF government so I'll take political predictions with a grain of salt. I'm more interested in the leveraged play.
I understand this move isn't for everyone. I don't enjoy my job and would like to move to something more meaningful and I view this as a way to potentially keep a similar level of income as I transition away from my current industry. Thoughts?