Younginvestor93
Registered User
- Messages
- 130
Spouse’s/Partner's age: Single
Annual gross income from employment or profession:
Annual gross income of spouse: 38000
Typo, edited, my bad!I think you have it sussed very well. You have all the benefits of being single while still getting the benefit of €38k from a spouse.
I am in 20% tax bracket and probably will be for a long time,
Have you very recently gotten a pay increase?Annual gross income from employment or profession: 38000
As for your pension options, you should clarify your exact status as it will change the approach you should or can take
Pensions Where to Start
Hi Folks, I need to get started on a Pension here in Ireland I know dropped the ball here a bit; but looking for advice on companies options etc. I spent a large number of years in Australia and only returned 3 years ago and the whole pension scheme here seems a bit confusing or else I just...www.askaboutmoney.com
Might not be worth maxing your pension contributions at minute, looks like your only receiving 40% tax relief on 2700, with the remaining 3000 only getting 20% relief. Until your salary is higher and you can avail of 40% on all your pension contributions I'd divert the money (3000) to extra savings for you property purchase.Firstly, thank you.
Regarding pension.
Self-Employed. No company. I work as a contractor. Single. 27. My contributions would be at 38k salary 15% of the so 5,700 per year. As the allocation that I can contribute increases. I will happily pay that in every year and max out contributions. If there's any other details I need to clarify let me know?
I don't know for sure yet, probably in the region of 400k at least to get I think, maybe less if I find something I like cheaper.Might not be worth maxing your pension contributions at minute, looks like your only receiving 40% tax relief on 2700, with the remaining 3000 only getting 20% relief. Until your salary is higher and you can avail of 40% on all your pension contributions I'd divert the money (3000) to extra savings for you property purchase.
What price of property have you in mind?
No, it's 200k and saved it. I've been good at saving and I've been working since a young age.You have 200k in savings. Theres your house. I'm presuming that was inherited and not saved. Or is it a typo should be 20000?
You are 27 and managed to save €200k on an income of €38k? Really?!No, it's 200k and saved it. I've been good at saving and I've been working since a young age.
Actually it is probably a little under, I rounded because it will be in that region when I look to buy next year or so but by the end of the year it should be at that figure or over. I realise that may be unusual, I understand many at my age struggle to get a house deposit together. I guess I got some small gifts from family over the years and saved well.You are 27 and managed to save €200k on an income of €38k? Really?!
No, it's 200k and saved it. I've been good at saving and I've been working since a young age.
Earning since a young age but almost no expenses which is probably why. I was only made aware that I was in an unusual position for my age. I didn't think much of it tbh.That's astonishing. You should post a thread on how to save so much money so quickly. Even if you started working at 15 that's over 16k per annum saved. Were you earning 38k as a teenager or have you had no material expenses?
Maybe there is a large extended family who were particularly generous at Confirmation?Thread: how to save 200k by age 27 on below average salary.
You will struggle to raise a mortgage of more than €133k on your current income so €400k seems an unrealistic budget (unless you are expecting further financial assistance from your family).I don't know for sure yet, probably in the region of 400k at least to get I think
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