Age:45
Spouse’s/Partner's age:49
Annual gross income from employment or profession:100K (including Bonus)
Annual gross income of spouse: 50K
Monthly take-home pay: 7K after max pension contributions
Type of employment: e.g. Civil Servant, self-employed Both of us in Private Sector
In general are you:
(a) spending more than you earn, or
(b) saving? Saving
Rough estimate of value of home: EUR 380K
Amount outstanding on your mortgage: Nil
What interest rate are you paying? N/A
Other borrowings – car loans/personal loans etc None
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card?
Savings and investments:
€ 110K Government Savings Bonds (includes children's allowance)
€ 40K BOI Fund
€ 145K in savings account (following covid crisis sold shares in March 2020)
€ 60K in shares in both employer companies
€ 20K in another savings account
Do you have a pension scheme? Yes 1 defined benefit own by partner earning 50K & 1 defined contribution (€200K current value)
Do you own any investment or other property? No
Ages of children: 11 and 8 years
Life insurance: Yes with both employers
Partner on 100K (aged 45) considering taking time our for childcare purposes (circa 1 year) and possible returning on a reduced salary also wants to retire at 60.
Looking into doing some home improvements to the value of €100K
Currently saving €1500 monthly plus children's allowance
Questions:
What should we be doing to make life a little easier on ourselves and to ensure financial security in future?
What investment opportunities should we seek with savings balance (after potentially spending € 100K in home improvements)? Both partners quiet risk adverse but perhaps we need to change this!
Spouse’s/Partner's age:49
Annual gross income from employment or profession:100K (including Bonus)
Annual gross income of spouse: 50K
Monthly take-home pay: 7K after max pension contributions
Type of employment: e.g. Civil Servant, self-employed Both of us in Private Sector
In general are you:
(a) spending more than you earn, or
(b) saving? Saving
Rough estimate of value of home: EUR 380K
Amount outstanding on your mortgage: Nil
What interest rate are you paying? N/A
Other borrowings – car loans/personal loans etc None
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card?
Savings and investments:
€ 110K Government Savings Bonds (includes children's allowance)
€ 40K BOI Fund
€ 145K in savings account (following covid crisis sold shares in March 2020)
€ 60K in shares in both employer companies
€ 20K in another savings account
Do you have a pension scheme? Yes 1 defined benefit own by partner earning 50K & 1 defined contribution (€200K current value)
Do you own any investment or other property? No
Ages of children: 11 and 8 years
Life insurance: Yes with both employers
Partner on 100K (aged 45) considering taking time our for childcare purposes (circa 1 year) and possible returning on a reduced salary also wants to retire at 60.
Looking into doing some home improvements to the value of €100K
Currently saving €1500 monthly plus children's allowance
Questions:
What should we be doing to make life a little easier on ourselves and to ensure financial security in future?
What investment opportunities should we seek with savings balance (after potentially spending € 100K in home improvements)? Both partners quiet risk adverse but perhaps we need to change this!