Age: 43, single male, no child dependants
Annual gross income from employment or profession: €69000
Monthly take-home pay: c.€2600 + €8000 annual bonus
In general are you: (a) spending more than you earn, or (b) saving?
Saving. Living on about €18k p.a. so saving including pension contributions €30k p.a.
Rough estimate of value of home: renting.
Other borrowings – car loans/personal loans etc.: None.
Do you pay off your full credit card balance each month? No Credit Card
Savings and investments:
Cash €60k - various accounts.
Life Assurance Savings policy €95k current encashment value and adding regular contributions of €1000 per month.
€95k Savings Certificate. Matured. Sitting idle (I know).
€12k Company Stocks. Purchase an additional €2500 stock p.a. through employer scheme.
€22k company stocks held in trust. Tax efficient scheme which is the source of my bonuses.
Do you own any investment or other property? No
Do you have a pension scheme? Yes, defined benefit occupational scheme.
Estimate pension based on current service €7k p.a + State Pension.
AVC contributions to a DC scheme €5k p.a. Current value €58k
€8k DC Irish-Life policy from previous employment.
Life insurance: Employer Scheme 3 x salary.
What specific question do you have or what issues are of concern to you?
Looking for options with regard to efficient investment of cash assets. I am not wary of market volatility but I have a mental block with regard to the 1% government tax and 1% AMC if I invested it into the Life Assurance savings policy. The increases in exit tax since I started the policy also add to my resistance to invest further a large sum. I also don't feel the taxation of the policy meets my future needs.
If I had notions of anything it would be to effectively drawdown my investments as an annual income in the next 3 to 7 years. In the meantime I would continue to save, possibly contributing the maximum AVC contribution, although I feel like I've adequately covered?
I would like the freedom to travel abroad to live and work, job-hopping and supplement a lower expected income. Still think I'm 25...
Am happy not being a mortgage owner. To buy a house close to where I work would consume all my assets.
I live a comfortable lifestyle on €18k p.a. and would consider it a luxurious lifestyle to live on €25k p.a.
I have, let's say, trust issues, and find it easier to place my money in the hands of a reputable company like Zurich or Standard Life rather than deal with an advisor/intermediary who will manage my investments directly (thinks of Bernie Madoff). I personally find navigating online investment platforms for self-directed investment perplexing and would consider my own investment errors a risk.
Annual gross income from employment or profession: €69000
Monthly take-home pay: c.€2600 + €8000 annual bonus
In general are you: (a) spending more than you earn, or (b) saving?
Saving. Living on about €18k p.a. so saving including pension contributions €30k p.a.
Rough estimate of value of home: renting.
Other borrowings – car loans/personal loans etc.: None.
Do you pay off your full credit card balance each month? No Credit Card
Savings and investments:
Cash €60k - various accounts.
Life Assurance Savings policy €95k current encashment value and adding regular contributions of €1000 per month.
€95k Savings Certificate. Matured. Sitting idle (I know).
€12k Company Stocks. Purchase an additional €2500 stock p.a. through employer scheme.
€22k company stocks held in trust. Tax efficient scheme which is the source of my bonuses.
Do you own any investment or other property? No
Do you have a pension scheme? Yes, defined benefit occupational scheme.
Estimate pension based on current service €7k p.a + State Pension.
AVC contributions to a DC scheme €5k p.a. Current value €58k
€8k DC Irish-Life policy from previous employment.
Life insurance: Employer Scheme 3 x salary.
What specific question do you have or what issues are of concern to you?
Looking for options with regard to efficient investment of cash assets. I am not wary of market volatility but I have a mental block with regard to the 1% government tax and 1% AMC if I invested it into the Life Assurance savings policy. The increases in exit tax since I started the policy also add to my resistance to invest further a large sum. I also don't feel the taxation of the policy meets my future needs.
If I had notions of anything it would be to effectively drawdown my investments as an annual income in the next 3 to 7 years. In the meantime I would continue to save, possibly contributing the maximum AVC contribution, although I feel like I've adequately covered?
I would like the freedom to travel abroad to live and work, job-hopping and supplement a lower expected income. Still think I'm 25...
Am happy not being a mortgage owner. To buy a house close to where I work would consume all my assets.
I live a comfortable lifestyle on €18k p.a. and would consider it a luxurious lifestyle to live on €25k p.a.
I have, let's say, trust issues, and find it easier to place my money in the hands of a reputable company like Zurich or Standard Life rather than deal with an advisor/intermediary who will manage my investments directly (thinks of Bernie Madoff). I personally find navigating online investment platforms for self-directed investment perplexing and would consider my own investment errors a risk.
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