Hello,
Long time reader, first time poster. AAM has been an informative resource for me and I would welcome users' thoughts on my position. My aim is to motivate myself to pro-actively manage my finances and put an actual plan in place for the future.
Age: 45
Spouse’s/Partner's age: N/A
Annual gross income from employment or profession: €105,000
Annual gross income of spouse: N/A
Monthly take-home pay €5,243.18
Type of employment: e.g. Civil Servant, self-employed; private sector, project manager 9years+ in current company
In general are you:
(a) spending more than you earn, or
(b) saving? Saving €500 pm EBS family saver; €1,000 pm KBC access account; €1,200 pm EBS current account. Total €2,700 pm.
Rough estimate of value of home; €250,000 'gritty' city centre neighbourhood, considering moving before it becomes ghettoised.
Amount outstanding on your mortgage: 0
What interest rate are you paying? 0
Other borrowings – car loans/personal loans etc.; None
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card? Monthly bill of between €400-€1,000 always cleared.
Savings and investments: Credit Union €1,000 - keeping this live in case I need to borrow small amount without going through bank. Not sure this is even required for me.
Current Account €7,500 approx., salary in, direct debits, credit card come out of this.
EBS family saver €12,000 approx.- monthly dd's for regular saving habit.
EBS current account €44,000 approx. - have been saving into this for years and not actually doing anything with it. House requires some capital investment but am unsure as to whether to purchase new house and rent current (€1,200 pm possible for a 2 bed in this location) sell or refurb for more comfortable living.
KBC €130,000 approx. in 3 accounts. Again, head in the sand stuff from me here... Previous saving bonds and maturing accounts just deposited into these.
An Post €12,000 - 5 year savings account due July 2017.
Royal Liver saving bond type product €6,500 - matures 2018 I think, taken out some 15 years ago. Total €213k approx.
Do you have a pension scheme? No, had one in an earlier employment circa 12 years ago but investigations, including writing to the Ombudsman to find out who controlled it post economic crash, yielded no information. Had 9 years contributions.
Do you own any investment or other property? No
Ages of children: None
Life insurance: None, I feel it is not required for me, no dependants, no mortgage.
What specific question do you have or what issues are of concern to you?
Where to start, literally. I have been concerned to be debt free and financially secure my entire adult life having experienced poverty and the insecurity of rented accommodation as a child. I am completely risk adverse, all attempts to motivate myself to research investment come to nothing.
I have always worked in the property industry but even in the 'good' times never purchased an investment property, my concern was to clear my own mortgage and be debt free. I drive a 131 car, my job is reasonably secure, albeit I do not enjoy it nor do I have a good relationship with my manager. I persevere because of the salary. There is no possibility of pension contributions from my employer.
I have no life plan, no end goals for financial security and living comfortably and am seeking comments on this forum to give me inspiration or direction to get motivated to actively manage my resources.
I have always worked hard, part time jobs to fund college, additional post-work education and professional qualifications, investing in myself. No inheritance in the long term to consider.
Thank you in advance for reading, please feel free to ask questions on anything I have may omitted required to be considered.
PD.
Long time reader, first time poster. AAM has been an informative resource for me and I would welcome users' thoughts on my position. My aim is to motivate myself to pro-actively manage my finances and put an actual plan in place for the future.
Age: 45
Spouse’s/Partner's age: N/A
Annual gross income from employment or profession: €105,000
Annual gross income of spouse: N/A
Monthly take-home pay €5,243.18
Type of employment: e.g. Civil Servant, self-employed; private sector, project manager 9years+ in current company
In general are you:
(a) spending more than you earn, or
(b) saving? Saving €500 pm EBS family saver; €1,000 pm KBC access account; €1,200 pm EBS current account. Total €2,700 pm.
Rough estimate of value of home; €250,000 'gritty' city centre neighbourhood, considering moving before it becomes ghettoised.
Amount outstanding on your mortgage: 0
What interest rate are you paying? 0
Other borrowings – car loans/personal loans etc.; None
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card? Monthly bill of between €400-€1,000 always cleared.
Savings and investments: Credit Union €1,000 - keeping this live in case I need to borrow small amount without going through bank. Not sure this is even required for me.
Current Account €7,500 approx., salary in, direct debits, credit card come out of this.
EBS family saver €12,000 approx.- monthly dd's for regular saving habit.
EBS current account €44,000 approx. - have been saving into this for years and not actually doing anything with it. House requires some capital investment but am unsure as to whether to purchase new house and rent current (€1,200 pm possible for a 2 bed in this location) sell or refurb for more comfortable living.
KBC €130,000 approx. in 3 accounts. Again, head in the sand stuff from me here... Previous saving bonds and maturing accounts just deposited into these.
An Post €12,000 - 5 year savings account due July 2017.
Royal Liver saving bond type product €6,500 - matures 2018 I think, taken out some 15 years ago. Total €213k approx.
Do you have a pension scheme? No, had one in an earlier employment circa 12 years ago but investigations, including writing to the Ombudsman to find out who controlled it post economic crash, yielded no information. Had 9 years contributions.
Do you own any investment or other property? No
Ages of children: None
Life insurance: None, I feel it is not required for me, no dependants, no mortgage.
What specific question do you have or what issues are of concern to you?
Where to start, literally. I have been concerned to be debt free and financially secure my entire adult life having experienced poverty and the insecurity of rented accommodation as a child. I am completely risk adverse, all attempts to motivate myself to research investment come to nothing.
I have always worked in the property industry but even in the 'good' times never purchased an investment property, my concern was to clear my own mortgage and be debt free. I drive a 131 car, my job is reasonably secure, albeit I do not enjoy it nor do I have a good relationship with my manager. I persevere because of the salary. There is no possibility of pension contributions from my employer.
I have no life plan, no end goals for financial security and living comfortably and am seeking comments on this forum to give me inspiration or direction to get motivated to actively manage my resources.
I have always worked hard, part time jobs to fund college, additional post-work education and professional qualifications, investing in myself. No inheritance in the long term to consider.
Thank you in advance for reading, please feel free to ask questions on anything I have may omitted required to be considered.
PD.