Relatively new to Ireland (7 years now). I have a few questions on ways to invest money. Below is our profile:
Age:
40
Spouse’s/Partner's age:
40
Annual gross income from employment or profession:
E 83,000
Annual gross income spouse:
E 63,000
Monthly Take Home (After Tax):
Euro 7827
Type of employment:
Full time (Private Sector)
Spouse: Contractor (Private Sector)
Expenditure pattern:
We are both generally 'savers'
Rough estimate of value of home
E 405,000
Mortgage on home
E 300,000 - we've been paying our mortgage for 20 months now.
Period Remaining – 15 years 4 months
Monthly payment - 2,203.62
Mortgage provider:
AIB
Type of mortgage: Tracker, interest only, fixed rate
Fixed (3 years)
Interest rate
3.2%
Other borrowings – car loans/personal loans etc
Car Loan Monthly Payment– Euro 354.41
Car Purchased in Jan – 2019, for 5 years
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
E 50,000 savings.
Do you have a pension scheme?
I have a company pension.
Have started personal pension upto 20% from Nov-2020.
Spouse – No Personal Pension
Do you own any investment or other property?
Yes, In other country
Ages of children:
10 and 4
Life insurance:
Not in Ireland.
What specific question do you have or what issues are of concern to you?
We want to start investing our money so that we build a corpus for our retirement and have enough for a rainy day and for kids education.
Age:
40
Spouse’s/Partner's age:
40
Annual gross income from employment or profession:
E 83,000
Annual gross income spouse:
E 63,000
Monthly Take Home (After Tax):
Euro 7827
Type of employment:
Full time (Private Sector)
Spouse: Contractor (Private Sector)
Expenditure pattern:
We are both generally 'savers'
Rough estimate of value of home
E 405,000
Mortgage on home
E 300,000 - we've been paying our mortgage for 20 months now.
Period Remaining – 15 years 4 months
Monthly payment - 2,203.62
Mortgage provider:
AIB
Type of mortgage: Tracker, interest only, fixed rate
Fixed (3 years)
Interest rate
3.2%
Other borrowings – car loans/personal loans etc
Car Loan Monthly Payment– Euro 354.41
Car Purchased in Jan – 2019, for 5 years
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
E 50,000 savings.
Do you have a pension scheme?
I have a company pension.
Have started personal pension upto 20% from Nov-2020.
Spouse – No Personal Pension
Do you own any investment or other property?
Yes, In other country
Ages of children:
10 and 4
Life insurance:
Not in Ireland.
What specific question do you have or what issues are of concern to you?
We want to start investing our money so that we build a corpus for our retirement and have enough for a rainy day and for kids education.
- Do we increase the personal pension amount to max?
- Do we start a personal pension for my spouse
- Do we pay a part of money when mortgage rate is revised
- We need to invest money in funds etc, what is the best possible way we can start, any website or through a broker?
- Best company to go for Life insurance? (We have contacted a broker, but seems they were tied to acorn, so not sure if that is a good policy. Any inputs will help)
- Ways to invest Lump sum amount.