Age:
37
Spouse age:
37
Annual gross income from employment or profession:
E110,000 (Currently paying myself salary €65k with surplus €45k)
Annual gross income spouse:
E75,000
Type of employment:
IT Contracting (Myself and spouse are both directors each owning 50%)
Marketing (Spouse)
Expenditure pattern:
Generally we spend less than we earn. Saving around E750 monthly into current account
Rough estimate of value of home:
N/A - renting in Dublin E1700 monthly
Mortgage details:
N/A
Other borrowings – car loans/personal loans etc
None
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
E20,000 savings
Do you have a pension scheme?
No
Spouse: 13% (6% personal + 7% company) contribution of E75k salary
Do you own any investment or other property?
Yes, in Australia.
Rental income is covering mortgage payments with annual surplus AUD $5,000
Property value: AUD $900,000
Loan balance: AUD $440,000
Equity: AUD $460,000 (= E290,000 based on 100 AUD = E63.66)
Ages of children:
7, 4
Life insurance:
Yes.
What specific question do you have or what issues are of concern to you?
1. House purchase
Budget for a house would be E610,000 (E20,000 savings + E290,000 equity + E300,000 mortgage which should have monthly payments roughly equal or less than current rent E1,700 monthly)
Does it make sense to put all our savings and equity into a house purchase or should we consider other investments?
2. Pension
I would like to set up a director’s pension and need advice here on what is recommended
From my company income of E110,000 what is the best balance of paying myself salary versus paying into a director’s pension to maximise the benefits of a pension?
37
Spouse age:
37
Annual gross income from employment or profession:
E110,000 (Currently paying myself salary €65k with surplus €45k)
Annual gross income spouse:
E75,000
Type of employment:
IT Contracting (Myself and spouse are both directors each owning 50%)
Marketing (Spouse)
Expenditure pattern:
Generally we spend less than we earn. Saving around E750 monthly into current account
Rough estimate of value of home:
N/A - renting in Dublin E1700 monthly
Mortgage details:
N/A
Other borrowings – car loans/personal loans etc
None
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
E20,000 savings
Do you have a pension scheme?
No
Spouse: 13% (6% personal + 7% company) contribution of E75k salary
Do you own any investment or other property?
Yes, in Australia.
Rental income is covering mortgage payments with annual surplus AUD $5,000
Property value: AUD $900,000
Loan balance: AUD $440,000
Equity: AUD $460,000 (= E290,000 based on 100 AUD = E63.66)
Ages of children:
7, 4
Life insurance:
Yes.
What specific question do you have or what issues are of concern to you?
1. House purchase
Budget for a house would be E610,000 (E20,000 savings + E290,000 equity + E300,000 mortgage which should have monthly payments roughly equal or less than current rent E1,700 monthly)
Does it make sense to put all our savings and equity into a house purchase or should we consider other investments?
2. Pension
I would like to set up a director’s pension and need advice here on what is recommended
From my company income of E110,000 what is the best balance of paying myself salary versus paying into a director’s pension to maximise the benefits of a pension?
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