Personal details
Age: 51
Spouse’s age: 46
Number and age of children: 11, 14
Income and expenditure
Annual gross income from employment or profession: 120K
Annual gross income of spouse: 0
Monthly take-home pay: 4600, + year end bonus usually 20K
Type of employment: Employed Software Engineer, Spouse is homemaker/artist
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving a little
Summary of Assets and Liabilities
Family home worth €500k with a €95k mortgage
Cash of €40K
Individual Shares: €100K
Defined Contribution pension fund: €500k
Family home mortgage information
Lender: Danske Bank now Pepper.
Interest rate: Tracker at ECB + 0.5% so now 4.5%.
Other borrowings – car loans/personal loans etc
No other loans
Do you pay off your full credit card balance each month?
Yes
Buy to let properties
None
Other savings and investments:
Do you have a pension scheme?
With work yes. I pay 16% AVC and Company pays 22%.
Do you own any investment or other property?
No
Other information which might be relevant
Life insurance:
With work for me, otherwise just mortgage protection insurance for both of us.
What specific question do you have or what issues are of concern to you?
What to do with 40K windfall. Pay down mortgage or invest ?
Age: 51
Spouse’s age: 46
Number and age of children: 11, 14
Income and expenditure
Annual gross income from employment or profession: 120K
Annual gross income of spouse: 0
Monthly take-home pay: 4600, + year end bonus usually 20K
Type of employment: Employed Software Engineer, Spouse is homemaker/artist
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving a little
Summary of Assets and Liabilities
Family home worth €500k with a €95k mortgage
Cash of €40K
Individual Shares: €100K
Defined Contribution pension fund: €500k
Family home mortgage information
Lender: Danske Bank now Pepper.
Interest rate: Tracker at ECB + 0.5% so now 4.5%.
Other borrowings – car loans/personal loans etc
No other loans
Do you pay off your full credit card balance each month?
Yes
Buy to let properties
None
Other savings and investments:
Do you have a pension scheme?
With work yes. I pay 16% AVC and Company pays 22%.
Do you own any investment or other property?
No
Other information which might be relevant
Life insurance:
With work for me, otherwise just mortgage protection insurance for both of us.
What specific question do you have or what issues are of concern to you?
What to do with 40K windfall. Pay down mortgage or invest ?