Deniswalsh
Registered User
- Messages
- 2
Age: 32
Spouse’s/Partner's age: 31
Annual gross income from employment or profession: €40K plus Additional’s varying from €10k to €15k
Annual gross income of spouse: approx. €12k
Monthly take-home pay €4,333 combined
Can vary upwards depending on projects
Type of employment: e.g. , self-employed,private sector
Myself: Private sector, construction industry
Wife: Private Sector
In general are you:
(a) spending more than you earn, or
(b) saving? Saving
Rough estimate of value of home €500k
Amount outstanding on your mortgage: €148k
What interest rate are you paying?3.3%
Fixed for 4 years with two years left on fixed term payments €663 plus €33 life cover per month for 28 years
Health insurance €2,900 Per year
Other borrowings – car loans/personal loans etc none
Do you pay off your full credit card balance each month? n/a – no credit card
Savings and investments:
€35,000 in instant access savings a/c – this a/c has two purposes i.e. saving for a modest replacement used family car & Rainy Day Fund (saving €800 per month to this account)
€10,000 Cash reserves
Do you have a pension scheme? – no looking for advice on this for future planning for both me and my wife
Do you own any investment or other property? – no
Ages of children: Child #1 – 7yrs Child #2 – 2 years
Life insurance:
50 %mortgage cover death or illness
What specific question do you have or what issues are of concern to you?
I’m looking for advice regards our financial situation, I’ve worked very hard in the last few years to set us up with having very little borrowed money only our mortgage .
We have no other loans or borrowings , we live a moderate life style . We save up to go on holidays or to buy any expensive things like Christmas and birthdays etc . We have a vary small child care cost of only €140 per month ,my wife works part time so we have a good quality of life for our kids and there actives and family time .
I work long hours and I want to set us up to be financially secure if the economy changes as I’m in the construction sector .
Couple things I’d like advice on
Correct fund to have as an emergency fund
Pension for our future (maybe look at another property through my company )
College fund for our kids
Where I can invest an amount of savings with a return .
Income protection
Final two cents
I would regard my self as a low risk taker as I seen what happened in the financial crash to people around me in the construction sector and also with houses and borrowed money beyond their control . My motto is to live with in your means and build the portfolio gradually over night with out taking major risks. All suggestions and advice greatly appreciated. Thanks
Spouse’s/Partner's age: 31
Annual gross income from employment or profession: €40K plus Additional’s varying from €10k to €15k
Annual gross income of spouse: approx. €12k
Monthly take-home pay €4,333 combined
Can vary upwards depending on projects
Type of employment: e.g. , self-employed,private sector
Myself: Private sector, construction industry
Wife: Private Sector
In general are you:
(a) spending more than you earn, or
(b) saving? Saving
Rough estimate of value of home €500k
Amount outstanding on your mortgage: €148k
What interest rate are you paying?3.3%
Fixed for 4 years with two years left on fixed term payments €663 plus €33 life cover per month for 28 years
Health insurance €2,900 Per year
Other borrowings – car loans/personal loans etc none
Do you pay off your full credit card balance each month? n/a – no credit card
Savings and investments:
€35,000 in instant access savings a/c – this a/c has two purposes i.e. saving for a modest replacement used family car & Rainy Day Fund (saving €800 per month to this account)
€10,000 Cash reserves
Do you have a pension scheme? – no looking for advice on this for future planning for both me and my wife
Do you own any investment or other property? – no
Ages of children: Child #1 – 7yrs Child #2 – 2 years
Life insurance:
50 %mortgage cover death or illness
What specific question do you have or what issues are of concern to you?
I’m looking for advice regards our financial situation, I’ve worked very hard in the last few years to set us up with having very little borrowed money only our mortgage .
We have no other loans or borrowings , we live a moderate life style . We save up to go on holidays or to buy any expensive things like Christmas and birthdays etc . We have a vary small child care cost of only €140 per month ,my wife works part time so we have a good quality of life for our kids and there actives and family time .
I work long hours and I want to set us up to be financially secure if the economy changes as I’m in the construction sector .
Couple things I’d like advice on
Correct fund to have as an emergency fund
Pension for our future (maybe look at another property through my company )
College fund for our kids
Where I can invest an amount of savings with a return .
Income protection
Final two cents
I would regard my self as a low risk taker as I seen what happened in the financial crash to people around me in the construction sector and also with houses and borrowed money beyond their control . My motto is to live with in your means and build the portfolio gradually over night with out taking major risks. All suggestions and advice greatly appreciated. Thanks