Personal details
Income and expenditure
Summary of Assets and Liabilities
Family home mortgage information
Other borrowings – car loans/personal loans etc
Do you pay off your full credit card balance each month?
Other savings and investments:
Other information which might be relevant
What specific question do you have or what issues are of concern to you?
- Age: 45
- Spouse’s/Partner's age: 45
- Number and age of children: 2 (aged 13 & 9)
Income and expenditure
- Annual gross income from employment or profession:
- €95K
- Annual gross income of spouse:
- Zero (made redundant December 2022 from private sector salary €110K and likely to return to work Jan 2024)
- Monthly take-home pay:
- €4K (after contributing max 25% AVC to pension)
- Type of employment:
- private sector employee
- Monthly spend:
- In general, current monthly spend (including mortgage payment) is similar to take-home pay
Summary of Assets and Liabilities
- Family home worth €800k with a €230k mortgage
- Cash of €350k (from savings, redundancy payment and selling company shares)
- Defined Contribution pension fund: €600k combined (Me €290K , Spouse €310K)
- Company shares : €10k
- Buy to Let Property: None
Family home mortgage information
- Lender: AIB
- Interest rate: 2.25% fixed - 6 months remaining
Other borrowings – car loans/personal loans etc
- None
Do you pay off your full credit card balance each month?
- Yes
Other savings and investments:
- Do you have a pension scheme? DC pension as above
- Do you own any investment or other property? No
Other information which might be relevant
- Life insurance: €380K policy as part of employer benefit (4X salary)
What specific question do you have or what issues are of concern to you?
- We feel very fortunate to be in the position of having €350k cash to clear our remaining mortgage. Our current thinking is to do this now but before going ahead wanted to review if this is the best use of this amount?
- If we do clear mortgage, we would like to understand best options for investing the remaining €100K cash (keeping €20K as emergency fund)
- Ongoing savings from my salary should be €1,800+ based on not having mortgage
- Spouse likely to have take home pay €4K+ within next 6 months
- Is the level of pension and insurance considered sufficient at our stage in life?