Familyman77
Registered User
- Messages
- 157
Evening everyone, I posted a couple of threads and have got some great advice so just a little bit more. Please see details below as I'm thinking more about the future and setting ourselves up as best we can . Something to note is we have a child with autism so we also have his future in the back of our heads aswell
Thanks for any input
Age: 42
Spouse’s/Partner's age: 36
Annual gross income from employment or profession: 65k
Annual gross income of spouse: n/a homemaker
Monthly take-home pay €4750 ( this figure includes ICTC tax credit €3300 per annum, €5000 per annum bonus paid weekly )
Type of employment: e.g. Civil Servant, self-employed
Private Sector construction industry
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving a bit
Rough estimate of value of home
€350000
Amount outstanding on your mortgage:
€150000 17 years left at €912 per month ( plus €91.20 PPI )
What interest rate are you paying?
2.75% <50% LTV just changed this week
Other borrowings – car loans/personal loans etc
No other debt
Do you pay off your full credit card balance each month?
N/A
If not, what is the balance on your credit card?
Savings and investments: €25k in CU
Do you have a pension scheme?
Work one is minimum industry requires I pay €20 and work pays €40 per week. Employer wont contribute higher to this.
Separate one is executive pension plan started 2019. Has 100k value and would expect employer to contribute average of 20k per year to this
Do you own any investment or other property?
No
Ages of children: 4 and 7
Life insurance: with mortgage, also have PPI and have Death in service cover with small industry pension
What specific question do you have or what issues are of concern to you?
I am going to use €100 per week to make either overpayments or pension AVCs. The pension calculator days I will reduce the mortgage by 7 years and will save €16k so I'm trying to work out the potential from using this €100 per week on top of current pension contributions, also of note When our 7 year old is 18 the ICTC is removed aswell.
Thanks for any input
Age: 42
Spouse’s/Partner's age: 36
Annual gross income from employment or profession: 65k
Annual gross income of spouse: n/a homemaker
Monthly take-home pay €4750 ( this figure includes ICTC tax credit €3300 per annum, €5000 per annum bonus paid weekly )
Type of employment: e.g. Civil Servant, self-employed
Private Sector construction industry
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving a bit
Rough estimate of value of home
€350000
Amount outstanding on your mortgage:
€150000 17 years left at €912 per month ( plus €91.20 PPI )
What interest rate are you paying?
2.75% <50% LTV just changed this week
Other borrowings – car loans/personal loans etc
No other debt
Do you pay off your full credit card balance each month?
N/A
If not, what is the balance on your credit card?
Savings and investments: €25k in CU
Do you have a pension scheme?
Work one is minimum industry requires I pay €20 and work pays €40 per week. Employer wont contribute higher to this.
Separate one is executive pension plan started 2019. Has 100k value and would expect employer to contribute average of 20k per year to this
Do you own any investment or other property?
No
Ages of children: 4 and 7
Life insurance: with mortgage, also have PPI and have Death in service cover with small industry pension
What specific question do you have or what issues are of concern to you?
I am going to use €100 per week to make either overpayments or pension AVCs. The pension calculator days I will reduce the mortgage by 7 years and will save €16k so I'm trying to work out the potential from using this €100 per week on top of current pension contributions, also of note When our 7 year old is 18 the ICTC is removed aswell.