Personal details
Age: 39
Spouse’s/Partner's age: N/A
Number and age of children: N/A
Income and expenditure
Annual gross income from employment or profession: €80,000
Monthly take-home pay: €3600
Type of employment: Private sector
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving.
Summary of Assets and Liabilities
Home worth €260k, just paid off in January
Cash of €10k
Defined Contribution pension fund: €125k
No other borrowings.
Credit card balance paid in full every month.
Other savings and investments
Do you have a pension scheme? Yes, through work. I've been slowly increasing the AVC % over the years and finally reached the max allowed for my age last year.
Do you own any investment or other property? No
Other information which might be relevant
Life insurance: None, also cancelled the mortgage protection since I don't have dependants.
What specific question do you have or what issues are of concern to you?
I just finished paying off my KBC mortgage 15 years ahead of time thanks to the fantastic AAM advice (I didn't realise you could overpay beyond the 10% limit. In the end, I only paid about €50 worth of penalties over 6 years, for over €140k of overpayments. Really grateful to the knowledgeable people sharing their wisdom here.)
My current plans are to rebuild my savings and look into energy home upgrades to future-proof the house and reduce my monthly expenses further, ideally paid for without financing. (Looking at insulation and solar PV at the moment.)
Next year will be my 40th birthday and I plan to increase my AVC to the max then as well.
My goal is to reduce my work hours in the next few years once the upgrades are out of the way, so I can pursue other personal projects and relieve the pressure on a health issue that's causing me trouble.
Any suggestions on what I might be missing or want to look into? I'm not sure if there are other types of insurance I should research. If I understand correctly, income protection doesn't work for part-time employment and wouldn't cover the pre-existing health condition that's most likely to cause me problems down the line. Investing probably doesn't make sense while I have big expenses coming up, and I don't understand it well yet.
I doubt I'll want to move any time soon. The house is small with no room for extensions, but I'm happy where I am and it seems reasonably possible to adapt it if my health issues get worse. Also, the PMAR stuff was a nightmare the first time around and I'm not sure I could get mortgage protection on my own again.
Age: 39
Spouse’s/Partner's age: N/A
Number and age of children: N/A
Income and expenditure
Annual gross income from employment or profession: €80,000
Monthly take-home pay: €3600
Type of employment: Private sector
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving.
Summary of Assets and Liabilities
Home worth €260k, just paid off in January
Cash of €10k
Defined Contribution pension fund: €125k
No other borrowings.
Credit card balance paid in full every month.
Other savings and investments
Do you have a pension scheme? Yes, through work. I've been slowly increasing the AVC % over the years and finally reached the max allowed for my age last year.
Do you own any investment or other property? No
Other information which might be relevant
Life insurance: None, also cancelled the mortgage protection since I don't have dependants.
What specific question do you have or what issues are of concern to you?
I just finished paying off my KBC mortgage 15 years ahead of time thanks to the fantastic AAM advice (I didn't realise you could overpay beyond the 10% limit. In the end, I only paid about €50 worth of penalties over 6 years, for over €140k of overpayments. Really grateful to the knowledgeable people sharing their wisdom here.)
My current plans are to rebuild my savings and look into energy home upgrades to future-proof the house and reduce my monthly expenses further, ideally paid for without financing. (Looking at insulation and solar PV at the moment.)
Next year will be my 40th birthday and I plan to increase my AVC to the max then as well.
My goal is to reduce my work hours in the next few years once the upgrades are out of the way, so I can pursue other personal projects and relieve the pressure on a health issue that's causing me trouble.
Any suggestions on what I might be missing or want to look into? I'm not sure if there are other types of insurance I should research. If I understand correctly, income protection doesn't work for part-time employment and wouldn't cover the pre-existing health condition that's most likely to cause me problems down the line. Investing probably doesn't make sense while I have big expenses coming up, and I don't understand it well yet.
I doubt I'll want to move any time soon. The house is small with no room for extensions, but I'm happy where I am and it seems reasonably possible to adapt it if my health issues get worse. Also, the PMAR stuff was a nightmare the first time around and I'm not sure I could get mortgage protection on my own again.
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