Looking for suggestions on how to retire early.
Questionnaire:
Age: 43
Spouse’s/Partner's age: 44
Annual gross income from employment or profession: 75,000
Annual gross income of spouse: 35,000
Monthly take-home pay: ~ 4,500 (after some deductions, AVCs, pension contributions, overpaying mortgage by 10%, max amount allowed by KBC)
Type of employment: Both in private sector PAYE
In general are you: saving - 2,300 pcm
Rough estimate of value of home: 240,000
Amount outstanding on your mortgage: 195,000
What interest rate are you paying: KBC bank 3.35% fixed for 5yrs, currently on year 3.
Other borrowings – car loans/personal loans etc: None
Do you pay off your full credit card balance each month: N/A don't have one.
Savings and investments
Cash: 45,000 savings account
Stocks (employer shares) : 5,000
Do you have a pension scheme? Yes
Mine: 85,000 (employer contributes 6% and I pay max 25% for age)
Spouse: 17,000
Do you own any investment or other property? None
Ages of children: None
Life insurance: employer provides 4x our base salaries
What specific question do you have or what issues are of concern to you?
Looking for suggestions on how to retire early if possible.
Unsure if we should invest in ETFs and/or overpay our mortgage in 2yrs once fixed period ends.
Thanks a lot!!
Questionnaire:
Age: 43
Spouse’s/Partner's age: 44
Annual gross income from employment or profession: 75,000
Annual gross income of spouse: 35,000
Monthly take-home pay: ~ 4,500 (after some deductions, AVCs, pension contributions, overpaying mortgage by 10%, max amount allowed by KBC)
Type of employment: Both in private sector PAYE
In general are you: saving - 2,300 pcm
Rough estimate of value of home: 240,000
Amount outstanding on your mortgage: 195,000
What interest rate are you paying: KBC bank 3.35% fixed for 5yrs, currently on year 3.
Other borrowings – car loans/personal loans etc: None
Do you pay off your full credit card balance each month: N/A don't have one.
Savings and investments
Cash: 45,000 savings account
Stocks (employer shares) : 5,000
Do you have a pension scheme? Yes
Mine: 85,000 (employer contributes 6% and I pay max 25% for age)
Spouse: 17,000
Do you own any investment or other property? None
Ages of children: None
Life insurance: employer provides 4x our base salaries
What specific question do you have or what issues are of concern to you?
Looking for suggestions on how to retire early if possible.
Unsure if we should invest in ETFs and/or overpay our mortgage in 2yrs once fixed period ends.
Thanks a lot!!