Age: 50
Spouse’s/Partner's age: 44
Annual gross income from employment or profession: €84K + company shares (variable)
Annual gross income of spouse: 30K
Monthly take-home pay circa 4K
Type of employment: e.g. Civil Servant, self-employed: Employee x 2
In general are you:
(a) spending more than you earn, NO
(b) saving? YES
Rough estimate of value of home circa 420K
Amount outstanding on your mortgage: 118K
What interest rate are you paying? 2.95%
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?
Savings and investments: €75K in shares & €52K in savings (separate savings acc for kids with €8K in it).
Do you have a pension scheme? YES - €125K at present 6% contribution matched by employer (spouse has no pension plan)
Do you own any investment or other property? NO
Ages of children: 16/14/10
Life insurance: YES, both lives are well covered.
What specific question do you have or what issues are of concern to you? Hi all, as I am not earning interest on my savings and with inflation recently hitting 2%, I would be grateful for some advice on investing my savings & portion of shares or benefits of topping up my pension. I have made an once-off AVC of €6900 already this year and I am already paying the 10% allowed overpayment on my remaining mortgage (which is locked in a fixed rate for 7 years) and to redeem would cost 000's so not viable. Recently completed ground floor extension plus attic conversion so no large expenditure expected other than perhaps college fees in a couple of years.. Any advice much appreciated, thanks Bren.
Spouse’s/Partner's age: 44
Annual gross income from employment or profession: €84K + company shares (variable)
Annual gross income of spouse: 30K
Monthly take-home pay circa 4K
Type of employment: e.g. Civil Servant, self-employed: Employee x 2
In general are you:
(a) spending more than you earn, NO
(b) saving? YES
Rough estimate of value of home circa 420K
Amount outstanding on your mortgage: 118K
What interest rate are you paying? 2.95%
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?
Savings and investments: €75K in shares & €52K in savings (separate savings acc for kids with €8K in it).
Do you have a pension scheme? YES - €125K at present 6% contribution matched by employer (spouse has no pension plan)
Do you own any investment or other property? NO
Ages of children: 16/14/10
Life insurance: YES, both lives are well covered.
What specific question do you have or what issues are of concern to you? Hi all, as I am not earning interest on my savings and with inflation recently hitting 2%, I would be grateful for some advice on investing my savings & portion of shares or benefits of topping up my pension. I have made an once-off AVC of €6900 already this year and I am already paying the 10% allowed overpayment on my remaining mortgage (which is locked in a fixed rate for 7 years) and to redeem would cost 000's so not viable. Recently completed ground floor extension plus attic conversion so no large expenditure expected other than perhaps college fees in a couple of years.. Any advice much appreciated, thanks Bren.