Not very savvy financially and would like some advice and apologies if the question is not posed well !!
Age: 60
Spouse’s/Partner's age: 62
Monthly take-home pay 7000
Type of employment: e.g. Civil Servant, self-employed
Self employed
In general are you:
(a) spending more than you earn, or
(b) saving?
Rough estimate of value of home 350,000
Amount outstanding on your mortgage: 0
What interest rate are you paying?
Other borrowings – car loans/personal loans etc
2 x personal loans @ 10,000 with AIB
combined balance left 22,000
1 x credit union loan @ 25,000
Mortgage of 26,000 left on investment property
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card? 2,000
Savings and investments: None
Do you have a pension scheme? No
Do you own any investment or other property?
2 x investment properties income included above
Value No 1 = 600,000 (mortgage 26,000 left) 7 years to run
Value No 2 = 450,000 no mortgage
Work premises = 150,000 " "
Ages of children: Not dependant
Life insurance: Yes 40,000
What specific question do you have or what issues are of concern to you?
Want to sell investment property No 1 as this property need a lot of refurbishment and wondering if right decision?
Will both be entitled to non contributory pension at 66/67
Plan to continue to work for present.
Age: 60
Spouse’s/Partner's age: 62
Monthly take-home pay 7000
Type of employment: e.g. Civil Servant, self-employed
Self employed
In general are you:
(a) spending more than you earn, or
(b) saving?
Rough estimate of value of home 350,000
Amount outstanding on your mortgage: 0
What interest rate are you paying?
Other borrowings – car loans/personal loans etc
2 x personal loans @ 10,000 with AIB
combined balance left 22,000
1 x credit union loan @ 25,000
Mortgage of 26,000 left on investment property
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card? 2,000
Savings and investments: None
Do you have a pension scheme? No
Do you own any investment or other property?
2 x investment properties income included above
Value No 1 = 600,000 (mortgage 26,000 left) 7 years to run
Value No 2 = 450,000 no mortgage
Work premises = 150,000 " "
Ages of children: Not dependant
Life insurance: Yes 40,000
What specific question do you have or what issues are of concern to you?
Want to sell investment property No 1 as this property need a lot of refurbishment and wondering if right decision?
Will both be entitled to non contributory pension at 66/67
Plan to continue to work for present.