Age : 37, Partners Age: 38 , no kids or plan to
Annual gross income from employment or profession: €116k + bonus (20%) + share grant scheme
Annual gross income of spouse: €39k
Monthly take-home pay : 5600 net, Partner 2200 net
Type of employment: Both Private Sector in technology.
In general are you (a) spending more than you earn, or (b) saving?
Saving - I have approx 100k savings, 20k in a bond investment maturing next year and 20k in shares which will increase to 40k next year. Partner 20k savings with 10k in shares.
Rough estimate of value of home: 320k
Amount outstanding on your mortgage: 190k
What interest rate are you paying? 2.45% fixed term expires in 3 years. Overpayed max within fixed period
Mortgage Expiry: 2044 (23 years)
Mortgage Repayments: 1000pm with no ability to overpay for another 3 years.
Other outgoings : Nothing else outside standard subscriptions /car insurance etc..
Other borrowings – car loans/personal loans etc. none
Do you pay off your full credit card balance each month? No CC debt
Savings and investments: Cash savings in various zero-interest accounts. I have approx 100k savings, 20k in bond investment and 20k in shares which will increase to 40k next year . Partner 20k savings with 10k in shares.
Do you have a pension scheme? Yes. Same with partner. Company contributing 7%, me 7%. Partner same.
Mortgage protection : covered for death. Life insurance: Yes, and my company also has a defined benefit.
No other income protection
What specific question do you have or what issues are of concern to you?
I'm very fortunate to have the amount of cash I have. It's been a lot of long hours that contributed to where I am now salary wise but I'm not sure I see many further increaes in salary or how much longer I'll maintain this level of pay. Ideally I'd like to try to use the cash I have today to set myself up for the future in a better way and not have to continue on a corporate path indefinitely.
Given the difference in pay I don't think paying off a lot of the mortgage will be an option for us as we share all house expenses (and have already overpaid as much as we can together). Any recommendations on how I could use this cash better in the shorter to medium term ?
Annual gross income from employment or profession: €116k + bonus (20%) + share grant scheme
Annual gross income of spouse: €39k
Monthly take-home pay : 5600 net, Partner 2200 net
Type of employment: Both Private Sector in technology.
In general are you (a) spending more than you earn, or (b) saving?
Saving - I have approx 100k savings, 20k in a bond investment maturing next year and 20k in shares which will increase to 40k next year. Partner 20k savings with 10k in shares.
Rough estimate of value of home: 320k
Amount outstanding on your mortgage: 190k
What interest rate are you paying? 2.45% fixed term expires in 3 years. Overpayed max within fixed period
Mortgage Expiry: 2044 (23 years)
Mortgage Repayments: 1000pm with no ability to overpay for another 3 years.
Other outgoings : Nothing else outside standard subscriptions /car insurance etc..
Other borrowings – car loans/personal loans etc. none
Do you pay off your full credit card balance each month? No CC debt
Savings and investments: Cash savings in various zero-interest accounts. I have approx 100k savings, 20k in bond investment and 20k in shares which will increase to 40k next year . Partner 20k savings with 10k in shares.
Do you have a pension scheme? Yes. Same with partner. Company contributing 7%, me 7%. Partner same.
Mortgage protection : covered for death. Life insurance: Yes, and my company also has a defined benefit.
No other income protection
What specific question do you have or what issues are of concern to you?
I'm very fortunate to have the amount of cash I have. It's been a lot of long hours that contributed to where I am now salary wise but I'm not sure I see many further increaes in salary or how much longer I'll maintain this level of pay. Ideally I'd like to try to use the cash I have today to set myself up for the future in a better way and not have to continue on a corporate path indefinitely.
Given the difference in pay I don't think paying off a lot of the mortgage will be an option for us as we share all house expenses (and have already overpaid as much as we can together). Any recommendations on how I could use this cash better in the shorter to medium term ?