feartheclaw
Registered User
- Messages
- 23
Age: 46
Spouse’s/Partner's age: 41
Annual gross income from employment or profession: 75k + potential bonus 10-20k - bonus not guaranteed and less so with C-19
Annual gross income of spouse: Not steady but <20k
Monthly take-home pay: 5k (combined)
Type of employment: e.g. Civil Servant, self-employed: both private, me full time self employed , her part-time but sporadic income
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving more than we spend
Rough estimate of value of home: Approx 300k / paid 360k
Amount outstanding on your mortgage: 200k tracker / 16 years @ 0.8% - €1100 per month),
Other borrowings – car loans/personal loans etc: None
Do you pay off your full credit card balance each month? Yes
Savings and investments:
60k savings should be up to 70-80k by year end / 30k in shares + ETF
Do you have a pension scheme?
Yes, contributing approx €1100 per month through own company - Current Value €100k
Do you own any investment or other property?
No
Ages of children: None
Life insurance: no, mortgage protection only
What specific question do you have or what issues are of concern to you?
Looking for a break from Dublin and to work remotely. This was always the eventual plan but wanted to hold onto the house as investment for retirement as pension was started late. My question is whether I should sell the house using the €100k for this purpose or keep the house as an investment as planned and get a bigger mortgage.
If staying put the house needs 10-20k refreshment works.
I would receive €1500+ rent for the Dublin house but I know that will be eaten into with tax implications etc
Any guidance or other observations on my overall situation much appreciated
Spouse’s/Partner's age: 41
Annual gross income from employment or profession: 75k + potential bonus 10-20k - bonus not guaranteed and less so with C-19
Annual gross income of spouse: Not steady but <20k
Monthly take-home pay: 5k (combined)
Type of employment: e.g. Civil Servant, self-employed: both private, me full time self employed , her part-time but sporadic income
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving more than we spend
Rough estimate of value of home: Approx 300k / paid 360k
Amount outstanding on your mortgage: 200k tracker / 16 years @ 0.8% - €1100 per month),
Other borrowings – car loans/personal loans etc: None
Do you pay off your full credit card balance each month? Yes
Savings and investments:
60k savings should be up to 70-80k by year end / 30k in shares + ETF
Do you have a pension scheme?
Yes, contributing approx €1100 per month through own company - Current Value €100k
Do you own any investment or other property?
No
Ages of children: None
Life insurance: no, mortgage protection only
What specific question do you have or what issues are of concern to you?
Looking for a break from Dublin and to work remotely. This was always the eventual plan but wanted to hold onto the house as investment for retirement as pension was started late. My question is whether I should sell the house using the €100k for this purpose or keep the house as an investment as planned and get a bigger mortgage.
If staying put the house needs 10-20k refreshment works.
I would receive €1500+ rent for the Dublin house but I know that will be eaten into with tax implications etc
Any guidance or other observations on my overall situation much appreciated