LeinsterNordie
Registered User
- Messages
- 13
Personal details
Age:36
Spouse’s/Partner's age:34
Number and age of children: 3 and 1 year old
Income and expenditure
Annual gross income from employment or profession: 105,000 (+ bonus of approx. 14k)
Annual gross income of spouse: 85,000 (+ bonus of approx. 5k)
Monthly take-home pay: Me: 4,700 Partner 3,600 after tax/pension/ESPP contributions
Type of employment: Multinational employees
In general are you: Saving
Summary of Assets and Liabilities
Family home worth €700k with a €410k mortgage
Savings:
Cash: €40k
Investment fund: 12k
Company shares : €15k plus 25k of RSUs vesting over next 3 years
Pension:
Me: €115k DC fund plus 9k/annum DB
Partner: 90k DC fund
Current Pension contributions:
Me: 9% Company: 14%
Partner: 12% Company: 6%
Family home mortgage information
Lender: BOI
Interest rate: 2.35%
If fixed, what is the term remaining of the fixed rate? 6 years
Other borrowings: none
Do you pay off your full credit card balance each month? Yes
Other information which might be relevant
Life insurance: company scheme paying 5x salary (Me), 3x Salary (Partner)
What specific question do you have or what issues are of concern to you?
We have kind of come to a stage where we are relatively set up. Moved into long term home about a year ago and spent a bunch of money kitting it out, two kids now part of the family, cars bought and paid for etc. Looking towards long term setup for success. Currently have about 3,500/month available to save/invest (plus ~20k in bonuses paid over the summer). With no real short or medium term draws on funds. So what combination of saving/investing/pension/mortgage overpayment makes sense? I like the idea of taking advantage of the 3k/year gift exemption to put savings together for the kids if they needed it in their 20's for a house etc. Does this make sense or is there a major drawback to putting this in trust? What other things should I be thinking about? I read these makeover threads and at times see completely different perspectives on how to approach your finances to what the OP originally thinks so would be interested in some feedback on how to set up for long term success
Age:36
Spouse’s/Partner's age:34
Number and age of children: 3 and 1 year old
Income and expenditure
Annual gross income from employment or profession: 105,000 (+ bonus of approx. 14k)
Annual gross income of spouse: 85,000 (+ bonus of approx. 5k)
Monthly take-home pay: Me: 4,700 Partner 3,600 after tax/pension/ESPP contributions
Type of employment: Multinational employees
In general are you: Saving
Summary of Assets and Liabilities
Family home worth €700k with a €410k mortgage
Savings:
Cash: €40k
Investment fund: 12k
Company shares : €15k plus 25k of RSUs vesting over next 3 years
Pension:
Me: €115k DC fund plus 9k/annum DB
Partner: 90k DC fund
Current Pension contributions:
Me: 9% Company: 14%
Partner: 12% Company: 6%
Family home mortgage information
Lender: BOI
Interest rate: 2.35%
If fixed, what is the term remaining of the fixed rate? 6 years
Other borrowings: none
Do you pay off your full credit card balance each month? Yes
Other information which might be relevant
Life insurance: company scheme paying 5x salary (Me), 3x Salary (Partner)
What specific question do you have or what issues are of concern to you?
We have kind of come to a stage where we are relatively set up. Moved into long term home about a year ago and spent a bunch of money kitting it out, two kids now part of the family, cars bought and paid for etc. Looking towards long term setup for success. Currently have about 3,500/month available to save/invest (plus ~20k in bonuses paid over the summer). With no real short or medium term draws on funds. So what combination of saving/investing/pension/mortgage overpayment makes sense? I like the idea of taking advantage of the 3k/year gift exemption to put savings together for the kids if they needed it in their 20's for a house etc. Does this make sense or is there a major drawback to putting this in trust? What other things should I be thinking about? I read these makeover threads and at times see completely different perspectives on how to approach your finances to what the OP originally thinks so would be interested in some feedback on how to set up for long term success