Pulllikeadog
Registered User
- Messages
- 5
Personal details
Age: 52
Spouse’s/Partner's age:49
Number and age of children: 2 ( 14 & 17)
Income and expenditure
Annual gross income from employment or profession: Basic €105K +Bonus ( 15%)
Annual gross income of spouse: €55K
Monthly take-home pay: Self 3650; Spouse Est €2,700
Type of employment: e.g. Civil Servant, self-employed Both Public
In general are you:
(a) spending more than you earn, or
(b) saving? Saving €1,000PM collectively
Summary of Assets and Liabilities
Family home Worth €560K (Mortgage Free)
Cash of €230k (on deposit main bank/CU, interest earned is negligible)
Defined Contribution pension fund: No, but DB estimated annual income@65 € 52K.
AVC’s: 30% monthly Current Value €308K ( estimated at 65 €875k +)
Company shares : ESOS: 48k + RSU’s 40K ( Receive and sell yearly as they vest)
Buy to Let Property : N/A
Family home mortgage information
Lender: N/A
Interest rate: N/A
If fixed, what is the term remaining of the fixed rate?
(No need to tell us the monthly repayments or what term is left)
Other borrowings – car loans/personal loans etc
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card?
Buy to let properties: None
Value:
Rental income per year:
Rough annual expenses other than mortgage interest:
Lender
Interest rate
If fixed, what is the term remaining of the fixed rate?
Other savings and investments:
Do you have a pension scheme? In addition to DB AVC’s: 30% monthly Current Value €308K (estimated @65 €875k based on current % rate). Lump sum estimated €162k remainder to transfer to ARF and subsequent drawdown.
OH, received 190k as pension contribution from firm (ceased operations recently), will be invested in PRSA.
Do you own any investment or other property? No
Other information which might be relevant
Life insurance: Company 4X Salary
VHI paid by Company for Family ( Small element of BIK deducted from Salary)
What specific question do you have or what issues are of concern to you?
Hi all, I have been a keen follower of the group for some time, reading the insightful commentary and suggestions and have finally decided to take the plunge and ask how do you think we’re doing retirement wise, personally speaking I think were on the right track, I have been paying AVC’s for numerous years but only started maxing contributions based on allowable percentages for the last 4. My question is that I wish to retire early, have 62 in mind but possibly earlier, at 62 I’d have accrued a DB of 44k per annum with a lump sum entitlement of 148k with remaining AVCs of 571k in an ARF ( based off company pension provider calculator). I’m hoping that this would be sufficient for myself & OH to realise that early retirement goal. The OH’s PRSA would be additional to this. Anything we could possibly do better or just continue as is! TIA
Age: 52
Spouse’s/Partner's age:49
Number and age of children: 2 ( 14 & 17)
Income and expenditure
Annual gross income from employment or profession: Basic €105K +Bonus ( 15%)
Annual gross income of spouse: €55K
Monthly take-home pay: Self 3650; Spouse Est €2,700
Type of employment: e.g. Civil Servant, self-employed Both Public
In general are you:
(a) spending more than you earn, or
(b) saving? Saving €1,000PM collectively
Summary of Assets and Liabilities
Family home Worth €560K (Mortgage Free)
Cash of €230k (on deposit main bank/CU, interest earned is negligible)
Defined Contribution pension fund: No, but DB estimated annual income@65 € 52K.
AVC’s: 30% monthly Current Value €308K ( estimated at 65 €875k +)
Company shares : ESOS: 48k + RSU’s 40K ( Receive and sell yearly as they vest)
Buy to Let Property : N/A
Family home mortgage information
Lender: N/A
Interest rate: N/A
If fixed, what is the term remaining of the fixed rate?
(No need to tell us the monthly repayments or what term is left)
Other borrowings – car loans/personal loans etc
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card?
Buy to let properties: None
Value:
Rental income per year:
Rough annual expenses other than mortgage interest:
Lender
Interest rate
If fixed, what is the term remaining of the fixed rate?
Other savings and investments:
Do you have a pension scheme? In addition to DB AVC’s: 30% monthly Current Value €308K (estimated @65 €875k based on current % rate). Lump sum estimated €162k remainder to transfer to ARF and subsequent drawdown.
OH, received 190k as pension contribution from firm (ceased operations recently), will be invested in PRSA.
Do you own any investment or other property? No
Other information which might be relevant
Life insurance: Company 4X Salary
VHI paid by Company for Family ( Small element of BIK deducted from Salary)
What specific question do you have or what issues are of concern to you?
Hi all, I have been a keen follower of the group for some time, reading the insightful commentary and suggestions and have finally decided to take the plunge and ask how do you think we’re doing retirement wise, personally speaking I think were on the right track, I have been paying AVC’s for numerous years but only started maxing contributions based on allowable percentages for the last 4. My question is that I wish to retire early, have 62 in mind but possibly earlier, at 62 I’d have accrued a DB of 44k per annum with a lump sum entitlement of 148k with remaining AVCs of 571k in an ARF ( based off company pension provider calculator). I’m hoping that this would be sufficient for myself & OH to realise that early retirement goal. The OH’s PRSA would be additional to this. Anything we could possibly do better or just continue as is! TIA