Review of our financial status

Discussion in 'Money makeover' started by Blackrock1, Nov 29, 2016.

  1. Blackrock1

    Blackrock1 Frequent Poster

    Posts:
    115
    More like 15-16k between my wife and I including portions of bonuses but I agree we need to put more in
     
  2. gnf_ireland

    gnf_ireland Frequent Poster

    Posts:
    634
    Sorry, I just see now that you have updated to say your wife is putting in 10.5% of her wages in, as opposed to the 2.5% originally stated

    Do keep in mind that your wife is talking about cutting back on her working week, or giving work up altogether. This will dramatically impact your pension as she currently pays in more than you do (assuming your numbers are correct)

    Your contribution is currently 5% which equates to 600 euro per month.

    What people are trying to say is - you will struggle to maintain your existing lifestyle into retirement, as it is dependent on a continual high income. The minute this drops, for whatever reason be it illness, retirement, redundancy etc, your lifestyle will come crashing down. People are just saying that you should average it out a bit better. But it is completely up to you

    I agree that this thread is probably run its course, so good luck OP and hope it all works out for you in the long term.