Age:
42
Spouse’s/Partner's age:
N/A
Annual gross income from employment or profession:
E83,000 -back to full time hours now after taking reduced hours for a year
Annual gross income spouse:
n/a
Type of employment:
PAYE, public sector
Expenditure pattern:
Ensure essentials are paid off :mortgage, bills, mgt fees for apt, groceries. No concrete savings target-I invest in shares but no concrete investing plan in place.
Rough estimate of value of home
E350,000
Mortgage on home
E112,000
Mortgage provider: Bank of Ireland, post KBC departure
Type of mortgage: Tracker, interest only, fixed rate
Fixed
Interest rate
2.25%, for next 2,5 years
Other borrowings – car loans/personal loans etc
None--sticking with old car
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
E10,000 savings in cash. Circa E70K shares
Do you have a pension scheme?
I have a pension fund of 80K E from previous employment. Currently contributing minimum to public sector pension
Do you own any investment or other property?
No
Ages of children:
One child-3 years old
Life insurance:
Mortgage Protection? Yes.
What specific question do you have or what issues are of concern to you?
I have to start getting my finances in order; was in a bad mental health state for awhile and had to take time off work unpaid and then reduced hours. Back to full time hours now. I want to get my finances in order so that I am more prepared for the future.
One massive thing I want is to trade up and I posted about this under mortgages section. Consensus is that I should be able to manage based on my current salary levels
Concerns:
-have mortgage protection but no other type of protection, what should be the minimum cover I need in terms of insurance? No life assurance, income protection
-do I need to draw up a will? I'm not even sure who will receive my estate should I unexpectedly pass away. My parents are elderly and I have a young child as mentioned above
-no private health insurance for myself or child. She has the under 7 GP card
-I had to pay defects levy for circa 16k eur, government mentioned redress scheme, details of which has not being finalised. Where do people that have sold up stand in relation to this? Very unfair altogether but thats another discussion for a different forum
-is trading up reasonable given gaps above?
I dont know if I am missing anything else obvious and would appreciate advice on above, thanks.
42
Spouse’s/Partner's age:
N/A
Annual gross income from employment or profession:
E83,000 -back to full time hours now after taking reduced hours for a year
Annual gross income spouse:
n/a
Type of employment:
PAYE, public sector
Expenditure pattern:
Ensure essentials are paid off :mortgage, bills, mgt fees for apt, groceries. No concrete savings target-I invest in shares but no concrete investing plan in place.
Rough estimate of value of home
E350,000
Mortgage on home
E112,000
Mortgage provider: Bank of Ireland, post KBC departure
Type of mortgage: Tracker, interest only, fixed rate
Fixed
Interest rate
2.25%, for next 2,5 years
Other borrowings – car loans/personal loans etc
None--sticking with old car
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
E10,000 savings in cash. Circa E70K shares
Do you have a pension scheme?
I have a pension fund of 80K E from previous employment. Currently contributing minimum to public sector pension
Do you own any investment or other property?
No
Ages of children:
One child-3 years old
Life insurance:
Mortgage Protection? Yes.
What specific question do you have or what issues are of concern to you?
I have to start getting my finances in order; was in a bad mental health state for awhile and had to take time off work unpaid and then reduced hours. Back to full time hours now. I want to get my finances in order so that I am more prepared for the future.
One massive thing I want is to trade up and I posted about this under mortgages section. Consensus is that I should be able to manage based on my current salary levels
Concerns:
-have mortgage protection but no other type of protection, what should be the minimum cover I need in terms of insurance? No life assurance, income protection
-do I need to draw up a will? I'm not even sure who will receive my estate should I unexpectedly pass away. My parents are elderly and I have a young child as mentioned above
-no private health insurance for myself or child. She has the under 7 GP card
-I had to pay defects levy for circa 16k eur, government mentioned redress scheme, details of which has not being finalised. Where do people that have sold up stand in relation to this? Very unfair altogether but thats another discussion for a different forum
-is trading up reasonable given gaps above?
I dont know if I am missing anything else obvious and would appreciate advice on above, thanks.