Personal details
Age: 46
Spouse's age: 46
Number and age of children: 13 & 5
Income and expenditure
Annual gross income: 128,000
Annual gross income: 100,000
Monthly take-home pay: 5,500
Monthly take-home pay: 4,400
Type of employment: Employee (both)
Employer type: Public Sector and Private company
In general are you: Using 3000 per month to clear short term debt currently
Summary of Assets and Liabilities
Family home value: 550,000
Mortgage on family home: 285,000
Net equity: 265,000
Cash: 0
Company shares : n/a
Family home mortgage information
Lender: AIB
Interest rate: 2.1% fixed.
Term remaining of the fixed rate: 2yrs
Remaining term: 22yrs
Monthly repayment: 1400
Other borrowings – car loans/personal loans etc
50k consolidated - clearing fast currently
Pension information
Value of pension fund me: Defined Benefit Scheme. Extra AVC for last 4 years at 500pm
Value of pension fund spouse: 403,000
Pension me: Defined Benefit Scheme. AVC for last 4 years at 500pm
Pension spouse: Employer 15%, Employee 10% - Not maxing out currently
Buy to let properties
Property 1
Value: 290,000
Mortgage: 100,000 (7 years left)
Rental income per year: 17400
Rough annual expenses other than mortgage interest: 2,500
Lender: AIB
Interest rate: 3.5%
Originally PPR
Other savings and investments:
No savings currently, diverting savings to clear personal loans asap.
What specific question do you have or what issues are of concern to you?
Age: 46
Spouse's age: 46
Number and age of children: 13 & 5
Income and expenditure
Annual gross income: 128,000
Annual gross income: 100,000
Monthly take-home pay: 5,500
Monthly take-home pay: 4,400
Type of employment: Employee (both)
Employer type: Public Sector and Private company
In general are you: Using 3000 per month to clear short term debt currently
Summary of Assets and Liabilities
Family home value: 550,000
Mortgage on family home: 285,000
Net equity: 265,000
Cash: 0
Company shares : n/a
Family home mortgage information
Lender: AIB
Interest rate: 2.1% fixed.
Term remaining of the fixed rate: 2yrs
Remaining term: 22yrs
Monthly repayment: 1400
Other borrowings – car loans/personal loans etc
50k consolidated - clearing fast currently
Pension information
Value of pension fund me: Defined Benefit Scheme. Extra AVC for last 4 years at 500pm
Value of pension fund spouse: 403,000
Pension me: Defined Benefit Scheme. AVC for last 4 years at 500pm
Pension spouse: Employer 15%, Employee 10% - Not maxing out currently
Buy to let properties
Property 1
Value: 290,000
Mortgage: 100,000 (7 years left)
Rental income per year: 17400
Rough annual expenses other than mortgage interest: 2,500
Lender: AIB
Interest rate: 3.5%
Originally PPR
Other savings and investments:
No savings currently, diverting savings to clear personal loans asap.
What specific question do you have or what issues are of concern to you?
- Should we be selling the rental apartment and paying off all debt and maximise pensions post this?
- Rental Apartment could be used for college in 5 years
- No major expenditure for house upcoming.
- Car upgrade in next few years once loans are cleared
- Childminding fees are low and will be gone next year.
- Once Loans are cleared, what is best way to maximise wealth and move forward?
- Tenants are moving out Jan 25 - Considering selling as we are in RPZ and can pay down Mortgage.
- Anything else we should consider to move towards earlier retirement especially with DB Pension/AVC