Hi,
I would like to generate a spreadsheet to help me compare the value of maximising PRSA contributions vs mortgage repayments.
I have seen discussion in other posts including Start pension or contribute more to mortgage and But you can be too young to start a pension but would like to use a spreadsheet to play around with figures and see the effects of varying interest rates etc, lump sum contributions etc.
Basically my problem is that I dont know how to perform the calculations and to some extent what to include in them - for example how would I calculate the following:
A) return on €1,000 invested into PRSA on 42% tax band with average return of say 7%pa, 1%mmgt fee, 98% allocation after 20 years
B) cost of €1,000 not paid into mortgage of €200,000 @say 4%APR after 20 years.
Any suggestions on the formulae i should use would be welcomed. As would any comment on what I should be comparing.
I would like to generate a spreadsheet to help me compare the value of maximising PRSA contributions vs mortgage repayments.
I have seen discussion in other posts including Start pension or contribute more to mortgage and But you can be too young to start a pension but would like to use a spreadsheet to play around with figures and see the effects of varying interest rates etc, lump sum contributions etc.
Basically my problem is that I dont know how to perform the calculations and to some extent what to include in them - for example how would I calculate the following:
A) return on €1,000 invested into PRSA on 42% tax band with average return of say 7%pa, 1%mmgt fee, 98% allocation after 20 years
B) cost of €1,000 not paid into mortgage of €200,000 @say 4%APR after 20 years.
Any suggestions on the formulae i should use would be welcomed. As would any comment on what I should be comparing.