Age: 42
Spouse’s/Partner's age: 47
Annual gross income from employment or profession: 48000
Annual gross income of spouse:49000
Monthly take-home pay About 4800 net
Type of employment: e.g. Civil Servant, self-employed : I'm an employee, husband is a civil servant.
In general are you:
(a) spending more than you earn, or
(b) saving?
Starting to save.
Rough estimate of value of home 150000 ( a guess, could be less)
Amount outstanding on your mortgage: 115000
What interest rate are you paying? c.4.5% variable
Other borrowings – car loans/personal loans etc One car loan c.14500 left.
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:None
Do you have a pension scheme?Husband has civil service pension but has only started.
Do you own any investment or other property? No
Ages of children: 7 & 9
Life insurance: Yes
What specific question do you have or what issues are of concern to you?
We have no savings because of big changes due to recession and change of employment. I had a business which closed due to the recession, and owed 60,000, at the same time my husband went back to college to retrain and is now a full time permanent civil servant. I am an employee again and we sold our family home to pay for college and the business debt. That left us enough for a deposit on a new, smaller house and we are basically starting over.
My father recently died and has left me about 970,000 worth of shares in one company which is unexpected (to say the least). After tax, I guess I will have about just over 700,000 worth of the shares. Probate is going through and will take a few months and I am looking for advice on what to do. I want to make sure that our family is secure financially for the future. And that we have funds to pay for our children to go to college etc. I don't have any dream for a big house or a fancy car. I don't even really want to pay off the mortgage as there is a risk we may move for my husband's job, in which case we might have to rent out the house we currently live in so it would be better tax wise to keep the mortgage, I think?
But I don't want to keep all the shares in one company as that seems very risky. And llike everyone else in Ireland, I wouldn't be rushing into property investment. What is the safest bet?
Spouse’s/Partner's age: 47
Annual gross income from employment or profession: 48000
Annual gross income of spouse:49000
Monthly take-home pay About 4800 net
Type of employment: e.g. Civil Servant, self-employed : I'm an employee, husband is a civil servant.
In general are you:
(a) spending more than you earn, or
(b) saving?
Starting to save.
Rough estimate of value of home 150000 ( a guess, could be less)
Amount outstanding on your mortgage: 115000
What interest rate are you paying? c.4.5% variable
Other borrowings – car loans/personal loans etc One car loan c.14500 left.
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:None
Do you have a pension scheme?Husband has civil service pension but has only started.
Do you own any investment or other property? No
Ages of children: 7 & 9
Life insurance: Yes
What specific question do you have or what issues are of concern to you?
We have no savings because of big changes due to recession and change of employment. I had a business which closed due to the recession, and owed 60,000, at the same time my husband went back to college to retrain and is now a full time permanent civil servant. I am an employee again and we sold our family home to pay for college and the business debt. That left us enough for a deposit on a new, smaller house and we are basically starting over.
My father recently died and has left me about 970,000 worth of shares in one company which is unexpected (to say the least). After tax, I guess I will have about just over 700,000 worth of the shares. Probate is going through and will take a few months and I am looking for advice on what to do. I want to make sure that our family is secure financially for the future. And that we have funds to pay for our children to go to college etc. I don't have any dream for a big house or a fancy car. I don't even really want to pay off the mortgage as there is a risk we may move for my husband's job, in which case we might have to rent out the house we currently live in so it would be better tax wise to keep the mortgage, I think?
But I don't want to keep all the shares in one company as that seems very risky. And llike everyone else in Ireland, I wouldn't be rushing into property investment. What is the safest bet?