getoutearly
Registered User
- Messages
- 13
Age: 41
Spouse’s/Partner's age: 42
Annual gross income from employment or profession: 115K
Annual gross income of spouse: 60K
Monthly take-home pay : 8K
Type of employment: Private Sector , Civil Servant
In general are you:
(a) spending more than you earn, or
(b) saving? Saving around 2K/month
Rough estimate of value of home : 550K
Amount outstanding on your mortgage: 170K ( life of mortgage 18 years)
What interest rate are you paying? 2.5% ( Less than 50% LTV)
Other borrowings – car loans/personal loans etc Nothing
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card?
Savings and investments: Currently I have 65K to cash and 10K invested in stocks and 4k in peer to peer lending
Do you have a pension scheme? Yes, Employer pension since 17 years , I pay 8% employer pays 8% (fund value 320k). Spouse: Civil Servant pension with some AVCs (not much).
Do you own any investment or other property? Two Investment properies
Property 1 (owned 50% with sibling):
Value: 310k
Mortgage: 175k
Interest Rate (.85 tracker)
Rental Profit: 11k
Property 2:
Value: 250k
Mortgage: 220k
Interest Rate (.90 tracker)
Rental Profit: 12k
Ages of children: 5 and 3 years old.
Life insurance: Yes , for both.
Looking for advice on best to maximise financial position, options as I see it:
- Use some savings to pay down PPR Mortgage and continue to over pay
- Increase pension contributions
- Buy more equities or EFT's
Should I keep investment properties, conscious of over exposure to property market ? I have a resonable appetite for risk and would like to retire early if I could
Spouse’s/Partner's age: 42
Annual gross income from employment or profession: 115K
Annual gross income of spouse: 60K
Monthly take-home pay : 8K
Type of employment: Private Sector , Civil Servant
In general are you:
(a) spending more than you earn, or
(b) saving? Saving around 2K/month
Rough estimate of value of home : 550K
Amount outstanding on your mortgage: 170K ( life of mortgage 18 years)
What interest rate are you paying? 2.5% ( Less than 50% LTV)
Other borrowings – car loans/personal loans etc Nothing
Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card?
Savings and investments: Currently I have 65K to cash and 10K invested in stocks and 4k in peer to peer lending
Do you have a pension scheme? Yes, Employer pension since 17 years , I pay 8% employer pays 8% (fund value 320k). Spouse: Civil Servant pension with some AVCs (not much).
Do you own any investment or other property? Two Investment properies
Property 1 (owned 50% with sibling):
Value: 310k
Mortgage: 175k
Interest Rate (.85 tracker)
Rental Profit: 11k
Property 2:
Value: 250k
Mortgage: 220k
Interest Rate (.90 tracker)
Rental Profit: 12k
Ages of children: 5 and 3 years old.
Life insurance: Yes , for both.
Looking for advice on best to maximise financial position, options as I see it:
- Use some savings to pay down PPR Mortgage and continue to over pay
- Increase pension contributions
- Buy more equities or EFT's
Should I keep investment properties, conscious of over exposure to property market ? I have a resonable appetite for risk and would like to retire early if I could