Age:
44
Spouse’s/Partner's age:
44
Annual gross income from employment or profession:
125k + 30% bonus plus 20k in shares ( roughly)
Annual gross income of spouse:
44k (Half time)
Type of employment:
Me Private Spouse Private
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving.
Rough estimate of value of home:
450k
Amount outstanding on your mortgage:
n/a
What interest rate are you paying?
n/a
Other borrowings – car loans/personal loans etc:
None.
Do you pay off your full credit card balance each month?
Yes.
If not, what is the balance on your credit card?
n/a
Savings and investments:
20k Emergency fund – credit union
100k Company Shares
Do you have a pension scheme?
Yes Hybrid Scheme DB – currently will pay 10k a year on retirement, rising to 20k if I stay until 65. DC Scheme Irish Life 100% equities. Current value 200k. I make 2000 a month AVC
Do you own any investment or other property?
No.
Ages of children:
8 and 10
Life insurance:
Yes 500k term policy
What specific question do you have or what issues are of concern to you?
I have been aggressively paying off my mortgage over the last 5 years. As its now finished I now have about 40k extra this year. I am currently exceeding my 25% pension age limit for AVC. My job is not 100% secure as a multinational.
Option 1 – Buy 2 20k government bonds maturing in 10 and 15 years to support college fees
Option 2 – Just put into my pension even though over limit. The fund growing tax-free is the motivation here. ( I don’t like the fee and tax structure of the college savings investment funds, Zurich, Irish life etc.
Thanks
44
Spouse’s/Partner's age:
44
Annual gross income from employment or profession:
125k + 30% bonus plus 20k in shares ( roughly)
Annual gross income of spouse:
44k (Half time)
Type of employment:
Me Private Spouse Private
In general are you:
(a) spending more than you earn, or
(b) saving?
Saving.
Rough estimate of value of home:
450k
Amount outstanding on your mortgage:
n/a
What interest rate are you paying?
n/a
Other borrowings – car loans/personal loans etc:
None.
Do you pay off your full credit card balance each month?
Yes.
If not, what is the balance on your credit card?
n/a
Savings and investments:
20k Emergency fund – credit union
100k Company Shares
Do you have a pension scheme?
Yes Hybrid Scheme DB – currently will pay 10k a year on retirement, rising to 20k if I stay until 65. DC Scheme Irish Life 100% equities. Current value 200k. I make 2000 a month AVC
Do you own any investment or other property?
No.
Ages of children:
8 and 10
Life insurance:
Yes 500k term policy
What specific question do you have or what issues are of concern to you?
I have been aggressively paying off my mortgage over the last 5 years. As its now finished I now have about 40k extra this year. I am currently exceeding my 25% pension age limit for AVC. My job is not 100% secure as a multinational.
Option 1 – Buy 2 20k government bonds maturing in 10 and 15 years to support college fees
Option 2 – Just put into my pension even though over limit. The fund growing tax-free is the motivation here. ( I don’t like the fee and tax structure of the college savings investment funds, Zurich, Irish life etc.
Thanks