moneyhoney
Registered User
- Messages
- 516
Age: 37
Spouse’s/Partner's age: 32
Annual gross income from employment or profession: €78,869
Annual gross income of spouse: Not relevant
Monthly take-home pay €3.5k
Type of employment: e.g. Civil Servant, self-employed Public servant
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving small amount per month but nothing to write home about. No longer using credit card (below) and living well within means. Substantial opps to cut back.
Rough estimate of value of home: Currently renting at €1,200/month.
Amount outstanding on your mortgage: 150k (bought as PPR but rented out). Rent covers mortgage repayments. Management fees c. €1,200 p.a. and tax last year was €792
What interest rate are you paying? Tracker ECB + 1%
Other borrowings – car loans/personal loans etc None
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card? €9k.
Savings and investments:
Do you have a pension scheme? Yes
Do you own any investment or other property? Yes (details above)
Ages of children: n/a
Life insurance: Mortgage protection insurance only
What specific question do you have or what issues are of concern to you?
My employer is inviting people to apply for voluntary redundancy. While I know I won't get such a well-paid job again, the after tax amount is €60k. This would allow me to pay off my debts of €9k + pretty much "start again". I've been working full-time for 16 years + a few months off would be great. I could also use the money to start my own business. Am I mad to consider taking redundancy is this climate? I would think that my chance of getting work are v strong - I have 16 years + comms/management experience.
Spouse’s/Partner's age: 32
Annual gross income from employment or profession: €78,869
Annual gross income of spouse: Not relevant
Monthly take-home pay €3.5k
Type of employment: e.g. Civil Servant, self-employed Public servant
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving small amount per month but nothing to write home about. No longer using credit card (below) and living well within means. Substantial opps to cut back.
Rough estimate of value of home: Currently renting at €1,200/month.
Amount outstanding on your mortgage: 150k (bought as PPR but rented out). Rent covers mortgage repayments. Management fees c. €1,200 p.a. and tax last year was €792
What interest rate are you paying? Tracker ECB + 1%
Other borrowings – car loans/personal loans etc None
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card? €9k.
Savings and investments:
Do you have a pension scheme? Yes
Do you own any investment or other property? Yes (details above)
Ages of children: n/a
Life insurance: Mortgage protection insurance only
What specific question do you have or what issues are of concern to you?
My employer is inviting people to apply for voluntary redundancy. While I know I won't get such a well-paid job again, the after tax amount is €60k. This would allow me to pay off my debts of €9k + pretty much "start again". I've been working full-time for 16 years + a few months off would be great. I could also use the money to start my own business. Am I mad to consider taking redundancy is this climate? I would think that my chance of getting work are v strong - I have 16 years + comms/management experience.