Do you have a pension scheme? Private value 220k (me 3%, company 7%)
- Would we benefit from talking to a financial planner in terms of more active management in the future. Or is the strategy post purchase in terms of aggressively paying down the mortgage best?
I wouldn't have a chunk of my wealth and my income dependent on the fortunes of one company.
I wouldn't have a chunk of my wealth and my income dependent on the fortunes of one company.
It's an extreme example but a lot of Enron staff had retirement savings in Enron stocks. That didn't end well.
after reading yet another "stock bubble" article,
Hi Stovey
Just to be clear, that is not the reason Coyote gave for selling them. It's not that he thinks that they will fall in value. It's just that a person should diversify their income and investments.
Brendan
......but I don't think any kind of investment outside pension makes any sense.
The OP. I think it's quite clear from the contextIs this applicable to the poster or all people?
A lot of things have gone your way, but you're one of those people who has a lot of common sense and who actually listens to advice you've been given. You're in a very good place given the world we're all living in right now. Only wish I had my head screwed on like you when I was your age. Well done.Update just over a year on, quick lookback
Income:
Savings/House:
- bump in salary to €150k due to promo
- some more shares/bonus
No point in regrets but:
- Bought house ~700k, put in 250, left with 80k savings after furnishing etc. Mortgage approx 2500pm.
- Split mortgage with tracker retention: Green mortgage rate only .05 more than tracker.
- Continue simple plan to pay down mortgage until we're at 1750pm and then look to see what else to do
- we sold prev house mid 2019, so missed out on market gains inbetween (maybe 50k) but equally it's hard to get into bidding and taken seriously unless you are ready to go in our area
- we went for max 3.5 salary on mortgage - with that large commitment monthly, in retrospect I'm glad we didn't go that high. It would have limited our options for one/both to reduce/change careers
700k, put in 250, left with 80k savings
Fair questionSorry if it's a silly qn but why aren't you fixing the tracker element at a lower rate
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