Age: 57
Spouse’s/Partner's age: 45
Annual gross income from employment or profession: €40,000
Annual gross income spouse: NIL
Type of employment: Self Employed
Expenditure pattern: Neutral , neither a spender nor a miser to be fair.
Rough estimate of value of home: €350k
Mortgage outstanding on home: €40000
Mortgage provider: Bank of Ireland
Type of mortgage: Fixed
Interest rate: 2.9%
Other borrowings – car loans/personal loans etc.: €22k Cars , 10% interest approx
Do you pay off your full credit card balance each month? Yes
Savings and investments:
€70 k cash savings in low interest accounts.
Do you have a pension scheme?
Yes, I have an ARF. Today worth €1,250,000. I took the tax free amount in 2014 and used it towards the building of my house.
Do you own any investment or other property? No
Ages of children: 22 and 18
Life insurance: Yes. Tied to mortgage.
What specific question do you have or what issues are of concern to you?
Tired of the rat race. Have worked my pants off straight from school until now. The business I am in has just got very difficult and is not nice to be in any more , too old to reinvent myself and maybe its time to slow down and live off my ARF and other bits and pieces. I think I should be fine , I've done up some spreadsheets but just interested in AAM's member's advice on what they would do. I have plenty hobbies so that side of it ( keeping myself busy ) is not an issue. Any opinions would be greatly appreciated. Thanks in advance.
Spouse’s/Partner's age: 45
Annual gross income from employment or profession: €40,000
Annual gross income spouse: NIL
Type of employment: Self Employed
Expenditure pattern: Neutral , neither a spender nor a miser to be fair.
Rough estimate of value of home: €350k
Mortgage outstanding on home: €40000
Mortgage provider: Bank of Ireland
Type of mortgage: Fixed
Interest rate: 2.9%
Other borrowings – car loans/personal loans etc.: €22k Cars , 10% interest approx
Do you pay off your full credit card balance each month? Yes
Savings and investments:
€70 k cash savings in low interest accounts.
Do you have a pension scheme?
Yes, I have an ARF. Today worth €1,250,000. I took the tax free amount in 2014 and used it towards the building of my house.
Do you own any investment or other property? No
Ages of children: 22 and 18
Life insurance: Yes. Tied to mortgage.
What specific question do you have or what issues are of concern to you?
Tired of the rat race. Have worked my pants off straight from school until now. The business I am in has just got very difficult and is not nice to be in any more , too old to reinvent myself and maybe its time to slow down and live off my ARF and other bits and pieces. I think I should be fine , I've done up some spreadsheets but just interested in AAM's member's advice on what they would do. I have plenty hobbies so that side of it ( keeping myself busy ) is not an issue. Any opinions would be greatly appreciated. Thanks in advance.