Was hoping someone with more expert knowledge could give some advice. We are a mid 40's couple married with 3 children, I was made redundant and am not overly confident of finding work in the near future given the current jobs market and my age. One of us still working for multinational but would not be unrealistic to think this may not be the case in 12 months from now as the industry involved in quite volatile at the moment.
Everything we have is held in euro bank a/c's in Ireland (Rabo, EBS and PTSB) also some in P.O. savings bonds. We also have 2 smallish pension funds. We have a very small mortgage on our home equating to 10-15% of current value.
We are just a regular couple hoping to have enough money in the future to pay our childrens college fees and have a bit left over for retirement. But our worse fear is to lose money due to euro breakup/devaluation etc.,
Would it be wise to spend some cash buying a 2nd property to rent out? I would only envisage using half of our savings approx to fund this.
All advice greatfully accepted.
Everything we have is held in euro bank a/c's in Ireland (Rabo, EBS and PTSB) also some in P.O. savings bonds. We also have 2 smallish pension funds. We have a very small mortgage on our home equating to 10-15% of current value.
We are just a regular couple hoping to have enough money in the future to pay our childrens college fees and have a bit left over for retirement. But our worse fear is to lose money due to euro breakup/devaluation etc.,
Would it be wise to spend some cash buying a 2nd property to rent out? I would only envisage using half of our savings approx to fund this.
All advice greatfully accepted.