Age: 26
Spouse’s/Partner's age: 26
Annual gross income from employment or profession: 41k
Annual gross income spouse: €40k
Type of employment: accountancy firm
monthly expenditure:
575pm rent (each), 506pm car (16k over 3 years - 2 years left), plus all the usual - electricity, gas, groceries. she has small car loan too approx €4k.
Rough estimate of value of home: N/A
Mortgage on home: N/A
Type of mortgage: N/A
Other borrowings – car loans/personal loans etc Credit card €12k approx re car above, couple of hunderd on credit card that will be cleared by end of teh month
Savings and investments: €10k PTSB, €3k anglo, €1k BOI
Do you have a pension scheme? No
Do you own any investment or other property? No
Ages of children: N/A
Life insurance: None
What specific question do you have or what issues are of concern to you?
Basically my concern is over having not started a pension yet. Myself and the OH are saving at present, the above info mainly represents my own details, We have approx 14k saved each and are looking to buy a house later this year (€350k to €400k 3 bed semi in skerries/malahide). We will try hold off as long as possible obviously given the fall in prices (read the property pin etc regularly). however we will eventually bite the bullet.
I save about €450 per month at present and want to make sure we get the savings up to approx €35k (for deposit, solicitors fees). That will take approx 8 months at current savings levels. However I ve been working 6 years now and have no pension - i know very little re pensions detail wise and amn't sure if now is the right time to get involved given the stock market turbulance. any thoughts?
however i do know they are tax efficient and that for every €1 i pay in nearly €2 will go into the pot. Obviously though this will lower my net wage and thus my saving ability. Any thoughts? I know 26 is not old but obviously given the way compounding works the earlier i start the better. Should i hold off until house is bought?
Also should I consider clearing some or all of the car loan to lower interest part? Is it worth even clearing 2k? Id be worried if i cleared full amount using savings we might miss out on buying later this year (as deposit gone) if we say the right place.
Spouse’s/Partner's age: 26
Annual gross income from employment or profession: 41k
Annual gross income spouse: €40k
Type of employment: accountancy firm
monthly expenditure:
575pm rent (each), 506pm car (16k over 3 years - 2 years left), plus all the usual - electricity, gas, groceries. she has small car loan too approx €4k.
Rough estimate of value of home: N/A
Mortgage on home: N/A
Type of mortgage: N/A
Other borrowings – car loans/personal loans etc Credit card €12k approx re car above, couple of hunderd on credit card that will be cleared by end of teh month
Savings and investments: €10k PTSB, €3k anglo, €1k BOI
Do you have a pension scheme? No
Do you own any investment or other property? No
Ages of children: N/A
Life insurance: None
What specific question do you have or what issues are of concern to you?
Basically my concern is over having not started a pension yet. Myself and the OH are saving at present, the above info mainly represents my own details, We have approx 14k saved each and are looking to buy a house later this year (€350k to €400k 3 bed semi in skerries/malahide). We will try hold off as long as possible obviously given the fall in prices (read the property pin etc regularly). however we will eventually bite the bullet.
I save about €450 per month at present and want to make sure we get the savings up to approx €35k (for deposit, solicitors fees). That will take approx 8 months at current savings levels. However I ve been working 6 years now and have no pension - i know very little re pensions detail wise and amn't sure if now is the right time to get involved given the stock market turbulance. any thoughts?
however i do know they are tax efficient and that for every €1 i pay in nearly €2 will go into the pot. Obviously though this will lower my net wage and thus my saving ability. Any thoughts? I know 26 is not old but obviously given the way compounding works the earlier i start the better. Should i hold off until house is bought?
Also should I consider clearing some or all of the car loan to lower interest part? Is it worth even clearing 2k? Id be worried if i cleared full amount using savings we might miss out on buying later this year (as deposit gone) if we say the right place.