mileurista
New Member
- Messages
- 2
Age:
35
Spouse’s/Partner's age:
N/a - I'm single
Annual gross income from employment or profession:
€105,000 base + €17,000 bonus (back in 2019 I was on €44k with no bonus)
Type of employment:
Private sector employee - I.T.
Expenditure pattern:
Definitely a 'saver'
Rent/Mortgage
Renting a house off a relative and I share with a friend. We pay €500 each.
Other borrowings – car loans/personal loans etc
None
Do you pay off your full credit card balance each month?
Yes - Sometimes I overpay but that isn't a good strategy
Savings and investments:
~€100k in savings account earning 3.4% (90k), 3.5% (10k)
€18k in stocks (lost 3k on the market never mind the 10k of paper profits)
£4.5k in savings account earning 4.25%
£3k in stocks (lost 1k)
Do you have a pension scheme?
I'm putting in 20% (AVC) and my company is matching me up to 10% so 20+10=30% (currently have 56k in current pension plan and 77k in my old one). I know I'm in the High Growth Portfolio (ie 5 risk value with 7 being the riskiest) and that it lost 3k in value last year.
Also waiting to hear back from the UK Pension to make voluntary contributions but I should get the full amount.
Do you own any investment or other property?
No.
Ages of children:
None.
Life insurance:
Yes via company plan and is 4 times my salary.
What specific question do you have or what issues are of concern to you?
I know myself the best thing I should be doing with my money is buying a house but I haven't as my rent is so low and I can walk away at any time as I am tempted to quit my job and go traveling/backpacking for a while.
I have looked into how much I could get as a mortgage. I could buy a house worth 567k (including the 10% I would put in) according the AIB calculator. Two houses beside mine sold last year for €500k so I could buy something similar but my repayments would be €2,174 a month and minus the rent a room relief (1,167) it would be paying €1,007 but that is double what I am paying at the moment. I'm also not 100% sure where I want to live as even last year with my ex we talked about moving to her country (EU) and then I might try and go fully remote with my next job.
I already have a case study of a friend of mine was in a similar situation back in 2019 but he bought and was still able to leave his job and go traveling but between help from his family and other means his repayments are covered by the rooms he has rented out. If house sales in his estate are to by his house has increased massively in value since then.
I also don't own a car just always rent when I need one even though I'm been tempted to buy many times I just cannot justify it over renting.
I do have a bad habit of buying expensive last minute flights with last minute accommodation prices added to that.
35
Spouse’s/Partner's age:
N/a - I'm single
Annual gross income from employment or profession:
€105,000 base + €17,000 bonus (back in 2019 I was on €44k with no bonus)
Type of employment:
Private sector employee - I.T.
Expenditure pattern:
Definitely a 'saver'
Rent/Mortgage
Renting a house off a relative and I share with a friend. We pay €500 each.
Other borrowings – car loans/personal loans etc
None
Do you pay off your full credit card balance each month?
Yes - Sometimes I overpay but that isn't a good strategy
Savings and investments:
~€100k in savings account earning 3.4% (90k), 3.5% (10k)
€18k in stocks (lost 3k on the market never mind the 10k of paper profits)
£4.5k in savings account earning 4.25%
£3k in stocks (lost 1k)
Do you have a pension scheme?
I'm putting in 20% (AVC) and my company is matching me up to 10% so 20+10=30% (currently have 56k in current pension plan and 77k in my old one). I know I'm in the High Growth Portfolio (ie 5 risk value with 7 being the riskiest) and that it lost 3k in value last year.
Also waiting to hear back from the UK Pension to make voluntary contributions but I should get the full amount.
Do you own any investment or other property?
No.
Ages of children:
None.
Life insurance:
Yes via company plan and is 4 times my salary.
What specific question do you have or what issues are of concern to you?
I know myself the best thing I should be doing with my money is buying a house but I haven't as my rent is so low and I can walk away at any time as I am tempted to quit my job and go traveling/backpacking for a while.
I have looked into how much I could get as a mortgage. I could buy a house worth 567k (including the 10% I would put in) according the AIB calculator. Two houses beside mine sold last year for €500k so I could buy something similar but my repayments would be €2,174 a month and minus the rent a room relief (1,167) it would be paying €1,007 but that is double what I am paying at the moment. I'm also not 100% sure where I want to live as even last year with my ex we talked about moving to her country (EU) and then I might try and go fully remote with my next job.
I already have a case study of a friend of mine was in a similar situation back in 2019 but he bought and was still able to leave his job and go traveling but between help from his family and other means his repayments are covered by the rooms he has rented out. If house sales in his estate are to by his house has increased massively in value since then.
I also don't own a car just always rent when I need one even though I'm been tempted to buy many times I just cannot justify it over renting.
I do have a bad habit of buying expensive last minute flights with last minute accommodation prices added to that.
Last edited: