Age: 45
Spouse’s/Partner's age: 42
Annual gross income from employment or profession: 84k
Annual gross income of spouse: 55k
Monthly take-home pay: 7k combined
Type of employment: I'm private sector, spouse public
In general are you:
(b) saving : ~5k a year
Rough estimate of value of home: 350k
Amount outstanding on your mortgage: 180k
What interest rate are you paying? 0.5% Tracker, 15 years left
Other borrowings – car loans/personal loans etc None
Do you pay off your full credit card balance each month? Yes
Savings and investments:
30k in current account, was in rabo (one of the reasons for this post)
11K 30 day demand deposit account
8K prize bonds
8K US stock market in Ameritrade, technology stocks.
Do you have a pension scheme? Yes,
5% company match,
spouse public not sure of details but expect its good deal.
Do you own any investment or other property? No
Ages of children: 18, 14
Life insurance: Both fully covered by employment.
Questions/Concerns:
Mortgage is fine, some home improvements needed but nothing major.
My car is 2012 - but fine for me.
Child1 in leaving cert, will have extra accom and tuition fees for next 4 years,
then hopefully child 2 will start so for next 8 years really.
Both my wife and myself are keen golfers, members of golf club costs 2K in
January before costs of the weekly competitions/outings are added. Members of a gym.
Sky HD for sports.
Could cut back on expenses if needed, but in general we live a good life don't
see the need to cut back. Nice holidays.
From reading other posts, seems clear that I need to start AVC's. Will get on that.
2 questions:
(1) What to do with 30K that I had sitting in Rabo. Have dabbled in the stock market, made 1K from AIB recently but in general want to minimize the risk. Should I just deposit in KBC as they have the best rates?
(2) Avid watchers of 'house in the sun' type TV programs. Wife always said that plan to use lump sum from pension to purchase a property in Spain, with plan to semi retire abroad.
Very interested in other forum on AAM which lists the extra costs and issues with a foreign investment property - but taking that on board we will still proceed at some stage, lifestyle choice.
Should we purchase now - take on the extra loan....Or wait 10 years and buy somewhere then?
In the short term management would be an extra hassle, but if we wait maybe? price in 10 years could be prohibitive and we could have had the back broken on the loan at that stage.
Spouse’s/Partner's age: 42
Annual gross income from employment or profession: 84k
Annual gross income of spouse: 55k
Monthly take-home pay: 7k combined
Type of employment: I'm private sector, spouse public
In general are you:
(b) saving : ~5k a year
Rough estimate of value of home: 350k
Amount outstanding on your mortgage: 180k
What interest rate are you paying? 0.5% Tracker, 15 years left
Other borrowings – car loans/personal loans etc None
Do you pay off your full credit card balance each month? Yes
Savings and investments:
30k in current account, was in rabo (one of the reasons for this post)
11K 30 day demand deposit account
8K prize bonds
8K US stock market in Ameritrade, technology stocks.
Do you have a pension scheme? Yes,
5% company match,
spouse public not sure of details but expect its good deal.
Do you own any investment or other property? No
Ages of children: 18, 14
Life insurance: Both fully covered by employment.
Questions/Concerns:
Mortgage is fine, some home improvements needed but nothing major.
My car is 2012 - but fine for me.
Child1 in leaving cert, will have extra accom and tuition fees for next 4 years,
then hopefully child 2 will start so for next 8 years really.
Both my wife and myself are keen golfers, members of golf club costs 2K in
January before costs of the weekly competitions/outings are added. Members of a gym.
Sky HD for sports.
Could cut back on expenses if needed, but in general we live a good life don't
see the need to cut back. Nice holidays.
From reading other posts, seems clear that I need to start AVC's. Will get on that.
2 questions:
(1) What to do with 30K that I had sitting in Rabo. Have dabbled in the stock market, made 1K from AIB recently but in general want to minimize the risk. Should I just deposit in KBC as they have the best rates?
(2) Avid watchers of 'house in the sun' type TV programs. Wife always said that plan to use lump sum from pension to purchase a property in Spain, with plan to semi retire abroad.
Very interested in other forum on AAM which lists the extra costs and issues with a foreign investment property - but taking that on board we will still proceed at some stage, lifestyle choice.
Should we purchase now - take on the extra loan....Or wait 10 years and buy somewhere then?
In the short term management would be an extra hassle, but if we wait maybe? price in 10 years could be prohibitive and we could have had the back broken on the loan at that stage.