E
Ellieh
Guest
Re: Investment/Saving Advice
Interesting to read this issue. Similar story myself. Married 3 years to public servant with salary 52K. AVC's about 220 euro per month. Myself self employed in service industry with fees per annum about 50k. No children. Home worth about 500k. Mortgage 130k. Savings 750eu per month. Commodity bond 35k with about 4 years to go before maturity. Guaranteed capital with minimum interest 7%. Surplus cash in business account at end of each year but cannot take it out without incurring tax at high rate. Took out pension for myself many years ago but cannot see it as having much value at maturity. Contribute 126euro per month. Also have single contrib lump sum investment of 2000eu taken out some years ago - again cannot see it as having much value at maturity. Would envisage husband and myself retiring at 60 - in 15 years time with mortgage paid off. We have no loans, no credit card overdrafts etc.
Is it good idea to put lump sum into mortgage every so often (tracker mortgage which I believe can be repaid with lump sum so as to reduce number of years)? Also what can be done with surplus cash in the limited company we have - pension for myself and/or husband, both directors?
At moment living in good estate in busy area but would love to build home on own site, maybe to retire to.
Any ideas would be welcome. Thanks very much.
E.
Interesting to read this issue. Similar story myself. Married 3 years to public servant with salary 52K. AVC's about 220 euro per month. Myself self employed in service industry with fees per annum about 50k. No children. Home worth about 500k. Mortgage 130k. Savings 750eu per month. Commodity bond 35k with about 4 years to go before maturity. Guaranteed capital with minimum interest 7%. Surplus cash in business account at end of each year but cannot take it out without incurring tax at high rate. Took out pension for myself many years ago but cannot see it as having much value at maturity. Contribute 126euro per month. Also have single contrib lump sum investment of 2000eu taken out some years ago - again cannot see it as having much value at maturity. Would envisage husband and myself retiring at 60 - in 15 years time with mortgage paid off. We have no loans, no credit card overdrafts etc.
Is it good idea to put lump sum into mortgage every so often (tracker mortgage which I believe can be repaid with lump sum so as to reduce number of years)? Also what can be done with surplus cash in the limited company we have - pension for myself and/or husband, both directors?
At moment living in good estate in busy area but would love to build home on own site, maybe to retire to.
Any ideas would be welcome. Thanks very much.
E.