Age:
34
Spouse’s/Partner's age:
33
Annual gross income from employment or profession:
E120,000
Annual gross income spouse:
E120,000
Type of employment:
Both private sector employees
Expenditure pattern:
Saving 6-7k a month
Rough estimate of value of home: E370,000
Mortgage on home: E130,000 - (3.5 years)
Mortgage provider: AIB
Repayments: 515 eur / month
Mortgage protection: 20 eur / month
Annual management fee 2200
Type of mortgage: Variable (2.7%)
Other borrowings – car loans/personal loans etc
None
Do you pay off your full credit card balance each month?
Yes, not always fully
Savings and investments:
E60,000 savings.
Do you have a pension scheme?
Me: Yes, I pay 13%, employer matches 7% into personal pension
Suppose: Pays 10%, employer matches 4%
Do you own any investment or other property?
No.
Ages of children:
1
Life insurance:
Yes (company sponsored)
What specific question do you have or what issues are of concern to you?
We would like to start investing our savings with goal 1: to get regular passive (or almost passive) income goal 2: increase our net worth long-term
Currently considering getting either:
a) a buy to let 2 bed apt in Dublin
b) investing in equity (ETFs) / individual stock
c) overpaying our mortgage
We are both EU citizens, and are highly likely to move to another country within 3 years.
I would appreciate any advice, ETFs looked very good until I understood the high tax implications. Buy-to-let seems not a bad option, but managing tenants can be tricky, especially from abroad. And overpaying mortgage gives a not high enough return + if we move from the country and start letting out our main apartment (IFSC, 2 bed) it'd be better to have mortgage to offset the income tax.
Thank you for all constructive feedback!
34
Spouse’s/Partner's age:
33
Annual gross income from employment or profession:
E120,000
Annual gross income spouse:
E120,000
Type of employment:
Both private sector employees
Expenditure pattern:
Saving 6-7k a month
Rough estimate of value of home: E370,000
Mortgage on home: E130,000 - (3.5 years)
Mortgage provider: AIB
Repayments: 515 eur / month
Mortgage protection: 20 eur / month
Annual management fee 2200
Type of mortgage: Variable (2.7%)
Other borrowings – car loans/personal loans etc
None
Do you pay off your full credit card balance each month?
Yes, not always fully
Savings and investments:
E60,000 savings.
Do you have a pension scheme?
Me: Yes, I pay 13%, employer matches 7% into personal pension
Suppose: Pays 10%, employer matches 4%
Do you own any investment or other property?
No.
Ages of children:
1
Life insurance:
Yes (company sponsored)
What specific question do you have or what issues are of concern to you?
We would like to start investing our savings with goal 1: to get regular passive (or almost passive) income goal 2: increase our net worth long-term
Currently considering getting either:
a) a buy to let 2 bed apt in Dublin
b) investing in equity (ETFs) / individual stock
c) overpaying our mortgage
We are both EU citizens, and are highly likely to move to another country within 3 years.
I would appreciate any advice, ETFs looked very good until I understood the high tax implications. Buy-to-let seems not a bad option, but managing tenants can be tricky, especially from abroad. And overpaying mortgage gives a not high enough return + if we move from the country and start letting out our main apartment (IFSC, 2 bed) it'd be better to have mortgage to offset the income tax.
Thank you for all constructive feedback!