Poc-ar-buille
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Age: 55
I am due to retire in 2030 age 65.
I am looking for opinions on carrying repayments into retirement : two loans extent until 2035 and two loans until 2045.
Already contributing to pension, and hope to have a decent defined contribution pension.
Currently rental income on Invest1 is €1800 and hopefully over time this will increase.
So my question is: is above manageable in retirement? Or I should target one or more of those repayments to be paid off before retirement?
Another idea is to accelerate payments into the 105k loan so that by age 70 (2035) I would have just one loan remaining : the interest only €160
In other words by putting approx 50k into the Invest1 105k early it would be paid off by 2035.
Would that make sense?
I am due to retire in 2030 age 65.
I am looking for opinions on carrying repayments into retirement : two loans extent until 2035 and two loans until 2045.
Already contributing to pension, and hope to have a decent defined contribution pension.
Currently rental income on Invest1 is €1800 and hopefully over time this will increase.
Property | Balance | Matures | Repayment Type | Interest Rate | Monthly Repayment |
PDH | 30k | 2035 | Capital and Interest | Tracker 1.1% | 200 |
PDH | 60k | 2035 | Capital and Interest | Tracker 1.1% | 380 |
Invest1 | 105k | 2045 | Capital and Interest | Tracker 1.1% | 410 |
Invest1 | 180k | 2045 | Interest Only | Tracker 1.1% | 160 |
So my question is: is above manageable in retirement? Or I should target one or more of those repayments to be paid off before retirement?
Another idea is to accelerate payments into the 105k loan so that by age 70 (2035) I would have just one loan remaining : the interest only €160
In other words by putting approx 50k into the Invest1 105k early it would be paid off by 2035.
Would that make sense?
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