Age: 58
Spouse’s/Partner's age: 54
Number and age of children: 3, aged 24, 22, 19
Income and expenditure
Annual gross income from employment or profession: €120,000
Annual gross income of spouse: €80,000
Monthly take-home pay. Joint take-home pay €8,500 plus expenses
Type of employment: e.g. Public Service
In general we are saving more than spending
Summary of Assets and Liabilities
Family home worth €250k with no mortgage
Cash of €200k
Defined benefits public service pension.
No shares
Property "in the sun" worth €200k with no mortgage. Not let, retained for family use only
No other borrowings – car loans/personal loans etc
We pay off credit card balance each month?
Other savings and investments:
Do you have a pension scheme? Both have public service pensions
Both also have substantial AVCs, so well set up for retirement in about 2 years time
What specific question do you have or what issues are of concern to you?
My biggest query is what to do with the €200,000 savings? It's annoying me that it's sitting there a losing value due to inflation and poor rate of return from the bank. I don't want to risk the sum but am somewhat 'paralysed' as to what to do with it. If this was 5 years ago, I could see the value in house prices and would have bought some property, but right now I don't see any value. Have dabbled in shares over the past 20 years or so but don't want to go down that road again. Any helpful advice is most welcome