Just really asking for opinions as to whether it's best to put €50k in savings?
Personal details
Age: 56 female
Spouse’s/Partner's age: 49 male
Number and age of children: 2 - 26yr & 15yr
Income and expenditure
Annual gross income from employment or profession: €45k
Annual gross income of spouse: €27k
Monthly take-home pay – Self €2,775 approx
Type of employment: e.g. Public sector
In general are you:
(a) spending more than you earn – no but not saving either
Summary of Assets and Liabilities
Family home worth €400k no mortgage
Cash of €70k inheritance, not savings
Shares : €100k current value approx. €3,500 dividends per annum
Other borrowings – car loans/personal loans etc
No loans currently and pay off cards every month
Other savings and investments:
Do you have a pension scheme? Single Public Service Scheme but only joined 5 years ago, €8,500 contributions to date.
Do you own any other property? No
Other information which might be relevant
Life insurance: Both of us have life insurance around €130k each
What specific question do you have or what issues are of concern to you?
Suggestions as to what I should do with €50k? I don’t think it’s worth putting it into my pension so is it best to just put it in the Post office as we’ll just end up spending it otherwise…. Possibly considering downsizing to an apartment later in life so might be looking to buy in 5 or 10 years.
Personal details
Age: 56 female
Spouse’s/Partner's age: 49 male
Number and age of children: 2 - 26yr & 15yr
Income and expenditure
Annual gross income from employment or profession: €45k
Annual gross income of spouse: €27k
Monthly take-home pay – Self €2,775 approx
Type of employment: e.g. Public sector
In general are you:
(a) spending more than you earn – no but not saving either
Summary of Assets and Liabilities
Family home worth €400k no mortgage
Cash of €70k inheritance, not savings
Shares : €100k current value approx. €3,500 dividends per annum
Other borrowings – car loans/personal loans etc
No loans currently and pay off cards every month
Other savings and investments:
Do you have a pension scheme? Single Public Service Scheme but only joined 5 years ago, €8,500 contributions to date.
Do you own any other property? No
Other information which might be relevant
Life insurance: Both of us have life insurance around €130k each
What specific question do you have or what issues are of concern to you?
Suggestions as to what I should do with €50k? I don’t think it’s worth putting it into my pension so is it best to just put it in the Post office as we’ll just end up spending it otherwise…. Possibly considering downsizing to an apartment later in life so might be looking to buy in 5 or 10 years.