Personal details
Age: 44
Spouse's age: 45
Number and age of children: 7 & 11
Income and expenditure
Annual gross income: 127,000 + 15% Bonus
Annual gross income: 145,000 + 20% Bonus
Monthly take-home pay: 5,500
Monthly take-home pay: 6,500
Type of employment: Employee (both)
Employer type: Private company (both)
In general are you: Saving 4,500 per month.
Summary of Assets and Liabilities
Family home value: 600,000
Mortgage on family home: 200,000
Net equity: 400,000
Cash: 120,000
Company shares : n/a
Family home mortgage information
Lender: BOI
Interest rate: 3% fixed.
Term remaining of the fixed rate: 3.5yrs
Remaining term: 22yrs
Monthly repayment: 1250 incl 10% overpayment
Other borrowings – car loans/personal loans etc
No other borrowings
Credit card balance paid each month.
Pension information
Value of pension fund me: <100,000 tbc. Only joined occupational scheme approx 2yrs ago. No pension prior to this.
Value of pension fund spouse: ~400,000 tbc.
Pension me: Employer 10%, Employee 15% + lump sum AVC each year to max 25%
Pension spouse: Employer 10%, Employee 10% + lump sum AVC each your to max 25%
Buy to let properties
Property 1
Value: 250,000
Mortgage: 135,000
Rental income per year: 15,000
Rough annual expenses other than mortgage interest: 2,000
Lender: ESB
Interest rate: Tracker + 1.25%
Originally PPR
Property 2 (50/50 with sibling)
Value: 300,000
Mortgage: 190,000 tbc
Value: As above. Originally PPR
Rental income per year: 14,000
Rough annual expenses other than mortgage interest: 2,000
Lender: PTSB
Interest rate: Tracker + 1.15%
Originally PPR
Other savings and investments:
Cash savings as above in various AIB, Revolut, Credit Union accounts.
What specific question do you have or what issues are of concern to you?
Age: 44
Spouse's age: 45
Number and age of children: 7 & 11
Income and expenditure
Annual gross income: 127,000 + 15% Bonus
Annual gross income: 145,000 + 20% Bonus
Monthly take-home pay: 5,500
Monthly take-home pay: 6,500
Type of employment: Employee (both)
Employer type: Private company (both)
In general are you: Saving 4,500 per month.
Summary of Assets and Liabilities
Family home value: 600,000
Mortgage on family home: 200,000
Net equity: 400,000
Cash: 120,000
Company shares : n/a
Family home mortgage information
Lender: BOI
Interest rate: 3% fixed.
Term remaining of the fixed rate: 3.5yrs
Remaining term: 22yrs
Monthly repayment: 1250 incl 10% overpayment
Other borrowings – car loans/personal loans etc
No other borrowings
Credit card balance paid each month.
Pension information
Value of pension fund me: <100,000 tbc. Only joined occupational scheme approx 2yrs ago. No pension prior to this.
Value of pension fund spouse: ~400,000 tbc.
Pension me: Employer 10%, Employee 15% + lump sum AVC each year to max 25%
Pension spouse: Employer 10%, Employee 10% + lump sum AVC each your to max 25%
Buy to let properties
Property 1
Value: 250,000
Mortgage: 135,000
Rental income per year: 15,000
Rough annual expenses other than mortgage interest: 2,000
Lender: ESB
Interest rate: Tracker + 1.25%
Originally PPR
Property 2 (50/50 with sibling)
Value: 300,000
Mortgage: 190,000 tbc
Value: As above. Originally PPR
Rental income per year: 14,000
Rough annual expenses other than mortgage interest: 2,000
Lender: PTSB
Interest rate: Tracker + 1.15%
Originally PPR
Other savings and investments:
Cash savings as above in various AIB, Revolut, Credit Union accounts.
What specific question do you have or what issues are of concern to you?
- We have had large expenditure over last few years - house deposits, house upgrades, car upgrades, disneyland etc,
- So all large expenditure has settled now, bar may car upgrade in next 2yrs
- We max pensions and pay ad-hoc lump sums off the PPR mortgage each year. Aiming to have it done by 2030.
- Assuming we will have school/college fees and the kids will likely be "dependents" for some time yet.
- This will be off-set as at some stage both childminding fees and mortgage will fall away and kids will fend for themselves.
- Given we have a healthy income and savings ability how should we best use our money to maintain/maximise wealth?
- Both jobs can be stressful at times. A "nice to have" would be one or both of us stepping back or retiring in mid-late 50's. Although, no doubt with more time on our hands we would also spend more. What would we need to do better to achieve this?