Age: 33
Spouse age: 36
Annual gross income from employment or profession: €77,500 (Private sect)
Annual gross income of spouse: €55,000 (Public sect)
Monthly take-home pay: c.€7,340. Children’s allowance of €280 per month not included.
Type of employment: Private and public sector.
In general are you?: Saving - well trying to!
Rough estimate of value of home: €330,000 we paid 230k in 2015)
Amount outstanding on your mortgage: €170,000 with 19 years left.
What interest rate are you paying? 3.1 variable €1,060 per month - looking at changing provider currently
Other borrowings - car loans/personal loans etc: Car loan 1 year left €377 per month
Do you pay off your full credit card balance each month? N/A
Savings and investments: €15,000 in bank savings. (don't seem to be able to save anything more really since second child started in childcare- prior to that we were over paying mortgage by €600 per month). Children's allowance savings in separate account for children's college/education future €6,400 increasing by €280 per month.
Do you have a pension scheme? No (my wife has - teacher)
Do you own any investment or other property? No
Ages of children: 1.5yrs and 3.5yrs. Childcare costs €1500 per month. This will drop to €800 in Sept 2022 and be €0 in Sept 2024
Life insurance: We both have cover €201,000 each which costs us €37 per month including mortgage protection
What specific question do you have or what issues are of concern?
I don't know really where to start. I'm 33 now going on 34 and need to put a plan into action for the future. Should I be speaking to a FA or is that needed when the money we have is not in the hundreds of thousands?
Should we be trying to pay our mortgage first or should I start a pension, or do both?
How much should I put into my own pension as a percentage of my gross income? Should it be a PRSA type ( I haven't a clue here....so any advise welcome and appreciated)/
I am in the private sector and there is nothing offered through employer in terms of pension or contributions so it will need to be figured out by myself.
Is there anything we can do with the children's allowance to make it grow by the time our two reach college age?
I am currently in year 3 of a 4 year part time degree being funded by myself. Can I claim anything back for this? It costs me €1,900 per academic year.
Thank you in advance...
Spouse age: 36
Annual gross income from employment or profession: €77,500 (Private sect)
Annual gross income of spouse: €55,000 (Public sect)
Monthly take-home pay: c.€7,340. Children’s allowance of €280 per month not included.
Type of employment: Private and public sector.
In general are you?: Saving - well trying to!
Rough estimate of value of home: €330,000 we paid 230k in 2015)
Amount outstanding on your mortgage: €170,000 with 19 years left.
What interest rate are you paying? 3.1 variable €1,060 per month - looking at changing provider currently
Other borrowings - car loans/personal loans etc: Car loan 1 year left €377 per month
Do you pay off your full credit card balance each month? N/A
Savings and investments: €15,000 in bank savings. (don't seem to be able to save anything more really since second child started in childcare- prior to that we were over paying mortgage by €600 per month). Children's allowance savings in separate account for children's college/education future €6,400 increasing by €280 per month.
Do you have a pension scheme? No (my wife has - teacher)
Do you own any investment or other property? No
Ages of children: 1.5yrs and 3.5yrs. Childcare costs €1500 per month. This will drop to €800 in Sept 2022 and be €0 in Sept 2024
Life insurance: We both have cover €201,000 each which costs us €37 per month including mortgage protection
What specific question do you have or what issues are of concern?
I don't know really where to start. I'm 33 now going on 34 and need to put a plan into action for the future. Should I be speaking to a FA or is that needed when the money we have is not in the hundreds of thousands?
Should we be trying to pay our mortgage first or should I start a pension, or do both?
How much should I put into my own pension as a percentage of my gross income? Should it be a PRSA type ( I haven't a clue here....so any advise welcome and appreciated)/
I am in the private sector and there is nothing offered through employer in terms of pension or contributions so it will need to be figured out by myself.
Is there anything we can do with the children's allowance to make it grow by the time our two reach college age?
I am currently in year 3 of a 4 year part time degree being funded by myself. Can I claim anything back for this? It costs me €1,900 per academic year.
Thank you in advance...