Investing while on Disability Allowance

[DAinvestor]

Hi,

I’m new to this and was wondering what to do.

I’m currently on Disability Allowance, 46 years old, 4 kids, my wife works a couple of hours a week and also receives carers allowance for one of the children.

I have no mortgage, loans or debts.
No pension plan and no investments.

I received a personal injury and was looking to invest most of it. Probably 90-100k

How can I keep my Disability Allowance while being able to invest for a reasonable pension in 20 years or so?

Thanks

 

[ClubMan]

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[DAinvestor]

Personal details

Your age: 46
Your spouse's age: 44
Partner's age if not married:

Number and age of children: 4


Income and expenditure
Annual gross income from employment or profession: €15k roughly
Annual gross income of spouse/partner: €20k

Monthly take-home pay: €1200

Type of employment Disability Allowance
Employer type: none

In general are you:
(a) spending more than you earn, or
(b) saving?

B trying to invest

Summary of Assets and Liabilities
Family home value: €250k
Mortgage on family home: 0
Net equity:

Cash: €100k
Defined Contribution pension fund: 0
Company shares : 0
Buy to Let Property value: 0
Buy to let Mortgage: 0



Family home mortgage information
Lender
Interest rate
Type of interest rate: tracker, variable, fixed.
If fixed, what is the term remaining of the fixed rate?
If tracker, what is the margin e.g. ECB + 1%

Remaining term: (Original term is not relevant)
Monthly repayment:

Other borrowings – car loans/personal loans etc

Do you pay off your full credit card balance each month?
If not, what is the balance on your credit card?

Pension information

Value of pension fund: 0

Buy to let properties
Value: 0
Rental income per year:
Rough annual expenses other than mortgage interest :
Lender
Interest rate
If fixed, what is the term remaining of the fixed rate?

Other savings and investments:
No

Other information which might be relevant

Life insurance:


What specific question do you have or what issues are of concern to you?

Looking for advice in order to keep Disability Allowance while investing towards some kind of a pension in 20 years
Looking to put away 90-100k to invest for retirement