Personal details
Age: Mid 30s
Spouse’s/Partner's age: 30s
Number and age of children: one cute baby, less than 1 YO
Income and expenditure
Annual gross income from employment or profession: 160K-200K (100K base salary, 15K guaranteed bonus. The rest is RSUs and other bonuses)
Annual gross income of spouse: 80K
Monthly take-home pay: 6.5K~
Type of employment: Salaried employee
In general are you:
(a) spending more than you earn, or
(b) saving. Our spend has been very low so far (1K-1.5K per month, not including mortgage)
Summary of Assets and Liabilities
Family home worth €350k with a €160k mortgage
Cash of €20k
Defined Contribution pension fund: €200k
Investment Portfolio 1: 35K
Investment Portfolio 2 (can't by used in Ireland for tax reasons): 190K
Family home mortgage information
Lender: AIB
Interest rate: around 2.5%
If fixed, what is the term remaining of the fixed rate? 4.5 years
My partner bought the property on her own
Other borrowings – car loans/personal loans etc
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card?
Other savings and investments:
Do you have a pension scheme? Yes, 200K saved so far for both partners
Do you own any investment or other property? Yes, investment value listed above
Other information which might be relevant
Life insurance: We have it from work
What specific question do you have or what issues are of concern to you?
1. We'd like to move to a nicer area and a bigger house in the next 1-3 years but not sell our current house (we can rent it). We're looking at 1M-1.5M houses in South Dublin. When it comes to 1M+ houses, is it better to rent or to buy? Is the rental yield different for more expensive houses?
2. My partner owns our house. Can she get a second mortgage jointly with me? How much would banks be willing to lend?
3. We'd like to set up a bare trust for the baby. Can we open a brokerage account for the bare trust?
4. Since we're not Irish and not domiciled here, does it make sense to start the bare trust somewhere else, like the UK?
Age: Mid 30s
Spouse’s/Partner's age: 30s
Number and age of children: one cute baby, less than 1 YO
Income and expenditure
Annual gross income from employment or profession: 160K-200K (100K base salary, 15K guaranteed bonus. The rest is RSUs and other bonuses)
Annual gross income of spouse: 80K
Monthly take-home pay: 6.5K~
Type of employment: Salaried employee
In general are you:
(b) saving. Our spend has been very low so far (1K-1.5K per month, not including mortgage)
Summary of Assets and Liabilities
Family home worth €350k with a €160k mortgage
Cash of €20k
Defined Contribution pension fund: €200k
Investment Portfolio 1: 35K
Investment Portfolio 2 (can't by used in Ireland for tax reasons): 190K
Family home mortgage information
Lender: AIB
Interest rate: around 2.5%
If fixed, what is the term remaining of the fixed rate? 4.5 years
My partner bought the property on her own
Other borrowings – car loans/personal loans etc
Do you pay off your full credit card balance each month? Yes
Other savings and investments:
Do you have a pension scheme? Yes, 200K saved so far for both partners
Do you own any investment or other property? Yes, investment value listed above
Other information which might be relevant
Life insurance: We have it from work
What specific question do you have or what issues are of concern to you?
1. We'd like to move to a nicer area and a bigger house in the next 1-3 years but not sell our current house (we can rent it). We're looking at 1M-1.5M houses in South Dublin. When it comes to 1M+ houses, is it better to rent or to buy? Is the rental yield different for more expensive houses?
2. My partner owns our house. Can she get a second mortgage jointly with me? How much would banks be willing to lend?
3. We'd like to set up a bare trust for the baby. Can we open a brokerage account for the bare trust?
4. Since we're not Irish and not domiciled here, does it make sense to start the bare trust somewhere else, like the UK?