Age: 50
Spouse’s/Partner's age: 44
Annual gross income from employment or profession: 120,000
Annual gross income of spouse: 15,000
Monthly take-home pay: 6,800
Type of employment: e.g. Civil Servant, self-employed: Self employed
In general are you:
(a) spending more than you earn, or
(b) saving? Saving about €4,000 per month
Rough estimate of value of home: €550,000
Amount outstanding on your mortgage: €0
What interest rate are you paying? N/A
Other borrowings – car loans/personal loans etc €0
Do you pay off your full credit card balance each month? No credit card
If not, what is the balance on your credit card?
Savings and investments:
Do you have a pension scheme?
Do you own any investment or other property?
Yes, another site worth €150,000 (not to be confused with the recent sale of the site mentioned above)
Ages of children: None (yet, but possible still - a case of better late than never?)
Life insurance: None
What specific question do you have or what issues are of concern to you?
Firstly we consider ourselves quite fortunate and are aware that we are in a reasonably comfortable position. We never take that for granted.
What would advise to do with €450k cash as it is obviously not earning anything sitting in the bank?
I was considering investing €100k of this in shares (diversified) to bring the total invested in shares to €210,000.
Additionally - as I come from a semi-rural background - I was considering investing in some agricultural land if I came across a reasonable opportunity, not to farm myself but just to hold as an investment, possibly renting it out for a nominal fee. This would be just a diversification strategy. I have had an investment property before and was lucky enough to get out on break even terms so I would be reluctant to consider rental properties again. I would consider €150-200k for a land purchase.
My pension valuation at the moment might be considered slightly below average but I intend to keep maxing out the contributions for the next several years.
I would like to have a balanced portfolio of assets if possible (shares, pension, land and just enough cash to live on) and would like to retire at 65 or earlier if possible.
Do you see any failings in my strategy or have any advice as to what I should change?
Spouse’s/Partner's age: 44
Annual gross income from employment or profession: 120,000
Annual gross income of spouse: 15,000
Monthly take-home pay: 6,800
Type of employment: e.g. Civil Servant, self-employed: Self employed
In general are you:
(a) spending more than you earn, or
(b) saving? Saving about €4,000 per month
Rough estimate of value of home: €550,000
Amount outstanding on your mortgage: €0
What interest rate are you paying? N/A
Other borrowings – car loans/personal loans etc €0
Do you pay off your full credit card balance each month? No credit card
If not, what is the balance on your credit card?
Savings and investments:
- Cash €450,000 (mostly due to a recent sale of a site)
- Shares (diversified portfolio): €110,000
Do you have a pension scheme?
- Yes, current worth is €325,000. I neglected this for some years but have contributed €25k p.a. for the past few years and will continue to give the maximum possible (€30k p.a. now that I have reached 50).
- My wife has no private pension and only works part time. She has not yet reached 10 years (520 PRSI payments) but should do so in about 3-4 years.
Do you own any investment or other property?
Yes, another site worth €150,000 (not to be confused with the recent sale of the site mentioned above)
Ages of children: None (yet, but possible still - a case of better late than never?)
Life insurance: None
What specific question do you have or what issues are of concern to you?
Firstly we consider ourselves quite fortunate and are aware that we are in a reasonably comfortable position. We never take that for granted.
What would advise to do with €450k cash as it is obviously not earning anything sitting in the bank?
I was considering investing €100k of this in shares (diversified) to bring the total invested in shares to €210,000.
Additionally - as I come from a semi-rural background - I was considering investing in some agricultural land if I came across a reasonable opportunity, not to farm myself but just to hold as an investment, possibly renting it out for a nominal fee. This would be just a diversification strategy. I have had an investment property before and was lucky enough to get out on break even terms so I would be reluctant to consider rental properties again. I would consider €150-200k for a land purchase.
My pension valuation at the moment might be considered slightly below average but I intend to keep maxing out the contributions for the next several years.
I would like to have a balanced portfolio of assets if possible (shares, pension, land and just enough cash to live on) and would like to retire at 65 or earlier if possible.
Do you see any failings in my strategy or have any advice as to what I should change?
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