Hi all,
I’d be interested in people’s views on our current situation. We have moved to the US for a number of years (3-5) as my spouse was offered an international assignment. Our intention at this point is to return to Ireland but I guess you never now (he is a bit of a homebird). We had intended to move house in Ireland and had built up a decent cash reserve to fund this - we put this plan on ice given the move and now we are wondering about wha5 to do with the cash.
Age - 41
Age of Spouse - 41
Two children, ages 4 and 2.
Overview of current position
Salary - n/a at the moment but hope to get working in the new year once EAD comes through
Salary Spouse - 85k plus bonus of 10k, this is supplemented with various allowances while we are abroad (thankfully as it is really expensive)
When I go back to work we should be able to save 70k a year hopefully for the period we are here.
Cash in various Irish Bank Accounts - 350k
Shares - 150k
Pension
Me - Deferred DB Benefit of 7k pa and DC pot of 300k
Spouse - Accruing DB benefit (10k p.a accrued) and DC pot of 80k
We have rented out our house while we are in the US and do not intend to go back to it - open minded about keeping it longer term. If we can hold on to current tenant It would be a runner.
We purchased in 2005 for 370k - thankfully on tracker of ECB + 0.95% over 35 year term
Current Value estimated at 280k-290k with 260k on mortgage
Monthly Rent less Management Fee and agent Fee - 1,270 per month
Mortgage - 1,100 per month
We Would welcome peoples views on what to do with the 350k in cash. Some options we had been considering
1. Buy a house anyway given we don’t intend to go back to current house-not really inclined to do this for a few reasons (what to do with it until we get back and what if we don’t get back)
2. Buy a house in the US - possibly a runner but costs of EA are very high here so putting me off
3. Drip feed into equity markets over period of time
Thanks
LJS1979
I’d be interested in people’s views on our current situation. We have moved to the US for a number of years (3-5) as my spouse was offered an international assignment. Our intention at this point is to return to Ireland but I guess you never now (he is a bit of a homebird). We had intended to move house in Ireland and had built up a decent cash reserve to fund this - we put this plan on ice given the move and now we are wondering about wha5 to do with the cash.
Age - 41
Age of Spouse - 41
Two children, ages 4 and 2.
Overview of current position
Salary - n/a at the moment but hope to get working in the new year once EAD comes through
Salary Spouse - 85k plus bonus of 10k, this is supplemented with various allowances while we are abroad (thankfully as it is really expensive)
When I go back to work we should be able to save 70k a year hopefully for the period we are here.
Cash in various Irish Bank Accounts - 350k
Shares - 150k
Pension
Me - Deferred DB Benefit of 7k pa and DC pot of 300k
Spouse - Accruing DB benefit (10k p.a accrued) and DC pot of 80k
We have rented out our house while we are in the US and do not intend to go back to it - open minded about keeping it longer term. If we can hold on to current tenant It would be a runner.
We purchased in 2005 for 370k - thankfully on tracker of ECB + 0.95% over 35 year term
Current Value estimated at 280k-290k with 260k on mortgage
Monthly Rent less Management Fee and agent Fee - 1,270 per month
Mortgage - 1,100 per month
We Would welcome peoples views on what to do with the 350k in cash. Some options we had been considering
1. Buy a house anyway given we don’t intend to go back to current house-not really inclined to do this for a few reasons (what to do with it until we get back and what if we don’t get back)
2. Buy a house in the US - possibly a runner but costs of EA are very high here so putting me off
3. Drip feed into equity markets over period of time
Thanks
LJS1979