Personal details
Your age: 34
Your spouse's age: 33
Number and age of children: 2 under 3
Income and expenditure
Annual gross income from employment or profession: €134k base + €170k RSU (they are doing well) + €20k bonus = ~€324k
Annual gross income of spouse/partner: €55k part-time through contracting (using our joint limited company)
Joint Monthly take-home pay: ~€8,000
In general are you:
(a) spending more than you earn, or
(b) saving?
Definitely saving
I'm maxing out my pension for my age (20% + 9% employer contributions at the maximum €110k.
My partner has a non-standard PRSA as a director and paying €2k per month from contracting work. We are both directors of the company, but I take 0 pay.
Summary of Assets and Liabilities
Family home value: €900k
Mortgage on family home: €600k
Net equity: €300k
Cash: €200k (hoping to do a house project in the next 3-4 years
Defined Contribution pension fund: €300k for me / €100k for my partner
Shares: €60k
No BTL properties
Total net assets: €900k
Family home mortgage information
Lender: BOI
Interest rate: 3% fixed for 4 more years
Remaining term: 33yr
Monthly repayment: €2,500
No other borrowings.
Do you pay off your full credit card balance each month? Paid off in full monthly
What specific question do you have or what issues are of concern to you?
1) Myself and my partner are keen to retire early but also have a decent lifestyle in the early retirement years. I'm trying to work out how comfortable we will be financially if we stop working at 55 or so. Is there anything we could be doing better to help maximise our retirement fund?
Your age: 34
Your spouse's age: 33
Number and age of children: 2 under 3
Income and expenditure
Annual gross income from employment or profession: €134k base + €170k RSU (they are doing well) + €20k bonus = ~€324k
Annual gross income of spouse/partner: €55k part-time through contracting (using our joint limited company)
Joint Monthly take-home pay: ~€8,000
In general are you:
(a) spending more than you earn, or
(b) saving?
Definitely saving
I'm maxing out my pension for my age (20% + 9% employer contributions at the maximum €110k.
My partner has a non-standard PRSA as a director and paying €2k per month from contracting work. We are both directors of the company, but I take 0 pay.
Summary of Assets and Liabilities
Family home value: €900k
Mortgage on family home: €600k
Net equity: €300k
Cash: €200k (hoping to do a house project in the next 3-4 years
Defined Contribution pension fund: €300k for me / €100k for my partner
Shares: €60k
No BTL properties
Total net assets: €900k
Family home mortgage information
Lender: BOI
Interest rate: 3% fixed for 4 more years
Remaining term: 33yr
Monthly repayment: €2,500
No other borrowings.
Do you pay off your full credit card balance each month? Paid off in full monthly
What specific question do you have or what issues are of concern to you?
1) Myself and my partner are keen to retire early but also have a decent lifestyle in the early retirement years. I'm trying to work out how comfortable we will be financially if we stop working at 55 or so. Is there anything we could be doing better to help maximise our retirement fund?