Age: 39
Spouse’s/Partner's age: 38
Annual gross income from employment or profession: c.42k
Annual gross income of spouse: c. 60k
Monthly take-home pay: No idea.
Type of employment: e.g. Civil Servant, self-employed: Self employed, varies wildly, spouse public sector.
In general are you:
(a) spending more than you earn, or
(b) saving? Spouse is saving, I'm spending all
Rough estimate of value of home €600,000
Amount outstanding on your mortgage: €241,500
What interest rate are you paying? 2.75% 23 years to completion.
Other borrowings – car loans/personal loans etc - 5 yr. Car loan €117 p.m. 9 months left to run
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card? 0
Savings and investments: Spouse has c. 10k savings
Do you have a pension scheme? yes, private PRSA fund at c. €145k, adding c. 7k net per annum. Spouse v. generous defined benefit public servant pension 35 - 40k on retirement aged 62.
Do you own any investment or other property? yes, value c. 310k, mortgage 177k, rent at €1350 p.m, monthly mortgage at c. €900, tracker at 0.95%. 18 yrs remaining. Lived there for 8 years, bought for 330k.
Ages of children: 10, 4
Life insurance: only mortgage protection across both properties.
What specific question do you have or what issues are of concern to you?
Looking at options for rental property. Another year or so to run on the current lease, but weighing up selling after that and knocking c.140k off PPR mortgage, with a view to maintaining current repayment and being mortgage free in 8 years. My self employed income is erratic, and is likely to decrease as I approach retirement. Spouse is public sector and safe. Kids 10 and 4, no college fund yet. I've no rainy day fund either. Both myself and spouse likely in line for significant inheritances in the next 25 years, maybe 400k and 150k respectively. Any and all help/advice gratefully received.
Spouse’s/Partner's age: 38
Annual gross income from employment or profession: c.42k
Annual gross income of spouse: c. 60k
Monthly take-home pay: No idea.
Type of employment: e.g. Civil Servant, self-employed: Self employed, varies wildly, spouse public sector.
In general are you:
(a) spending more than you earn, or
(b) saving? Spouse is saving, I'm spending all
Rough estimate of value of home €600,000
Amount outstanding on your mortgage: €241,500
What interest rate are you paying? 2.75% 23 years to completion.
Other borrowings – car loans/personal loans etc - 5 yr. Car loan €117 p.m. 9 months left to run
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card? 0
Savings and investments: Spouse has c. 10k savings
Do you have a pension scheme? yes, private PRSA fund at c. €145k, adding c. 7k net per annum. Spouse v. generous defined benefit public servant pension 35 - 40k on retirement aged 62.
Do you own any investment or other property? yes, value c. 310k, mortgage 177k, rent at €1350 p.m, monthly mortgage at c. €900, tracker at 0.95%. 18 yrs remaining. Lived there for 8 years, bought for 330k.
Ages of children: 10, 4
Life insurance: only mortgage protection across both properties.
What specific question do you have or what issues are of concern to you?
Looking at options for rental property. Another year or so to run on the current lease, but weighing up selling after that and knocking c.140k off PPR mortgage, with a view to maintaining current repayment and being mortgage free in 8 years. My self employed income is erratic, and is likely to decrease as I approach retirement. Spouse is public sector and safe. Kids 10 and 4, no college fund yet. I've no rainy day fund either. Both myself and spouse likely in line for significant inheritances in the next 25 years, maybe 400k and 150k respectively. Any and all help/advice gratefully received.