personal financial status - advice

N

notsosmart

Guest
Full details:

Age: 33
Status: Single

Income: €63k

Mortgage: €270k for 25 years. 30 months paid. AIB Tracker.

Apt Fees: €2k per year

Prop Value: €340k - €350k

Loans: None

Savings: €55k ( 20k in SSIA account with €254 still going in each month. 12k in Cashsave AIB account, 7k in TSB Permanent Account, 8k in Credit Union, 4k in An Post Bond (3 years left ), 4k in EBS Current account < 1k in AIB Current account at any one time )

Shares: €3k

Pension: < €10k ( poor )

No car but may purchase a 4k car in next 6 months. Expect insurance to be €1.5k.

I realise my pension fund should be far greater at this stage. Increase that?

Lump sum payment on mortgage?

Any advice as to my best more would be greatly appreciated. I've done poorly with shares in the last few years. Thinking about trying for a 2nd mortgage for another place in Dublin.

I understand there have been similar requests for advice before but I'm finding it difficult to review them when they're not matching my profile. Sorry!
 

asdfg

Registered User
Messages
1,605
I realise my pension fund should be far greater at this stage. Increase that?

If you do this now before 31/10 you will get tax relief (Paye PRSI 48% in total) against last years income (2006). You can contribute 20% of salary.
Thinking about trying for a 2nd mortgage for another place in Dublin.

You will need to declare this as an investment property and pay tax on the profit.

See revenue guide to rental income
 
Top