Personal details
Age: 46
Spouse's age: NA
Number and age of children: 0
Income and expenditure
Annual gross income from employment or profession: ~€230,000 (Salary, Car, Bonus)
Monthly take-home pay: €8340
Type of employment - Employed.
Employer type: private company.
In general, are you:
(b) saving - €2000 a month
Summary of Assets and Liabilities
Family home value: €800,000
Mortgage on family home: €212,000 (+€50000 prepaid)
Net equity: €638,000
Cash: €50,000
Defined Contribution pension fund: €350,000
Company shares : €120,000 (2 companies) ~€100,000 fully vested by March 2025
Buy to Let Property value: N/A
Buy to let Mortgage: N/A
Total net assets: €1.1m
Family home mortgage information
Lender: PTSB
Interest rate 2.8%
Type of interest rate: tracker, variable, fixed: Fixed
If fixed, what is the term remaining of the fixed rate? 3.5 Yrs
Remaining term: (Original term is not relevant): 205 months
Monthly repayment: €1300 (+€1500 overpayment)
Other borrowings – car loans/personal loans etc
PCP car - €450 p/m
Do you pay off your full credit card balance each month? Yes
Pension information
Value of pension fund: 1st fund €300000
Current fund €50,000 (7% & 10.5% employer) – maxing with AVC to €28k limit.
Other savings and investments:
PTSB monthly saver: Savings (2.5%) €23500
Overflow savings PTSB (0.1%) €4000
Raisin Demand Deposit 3.1% - €15000
Credit Union - €5500
Prize Bonds € 2800
Other information which might be relevant
Life insurance: Mortgage Insurance and Death in Benefit.
What specific question do you have or what issues are of concern to you?
With €50,000 cash in savings, I am now considering diverting my monthly saving amount of €2k to mortgage from this month, giving a monthly overpayment of €3500 – is this the right thing to do?
The last of my shares with my previous company will mature in March of 2025 – I am considering selling these to pay into the mortgage in March – with the overpayment I could be finished mortgage in late 2025? Is this the right thing to do or should I continue to build cash and invest this?
Age: 46
Spouse's age: NA
Number and age of children: 0
Income and expenditure
Annual gross income from employment or profession: ~€230,000 (Salary, Car, Bonus)
Monthly take-home pay: €8340
Type of employment - Employed.
Employer type: private company.
In general, are you:
(b) saving - €2000 a month
Summary of Assets and Liabilities
Family home value: €800,000
Mortgage on family home: €212,000 (+€50000 prepaid)
Net equity: €638,000
Cash: €50,000
Defined Contribution pension fund: €350,000
Company shares : €120,000 (2 companies) ~€100,000 fully vested by March 2025
Buy to Let Property value: N/A
Buy to let Mortgage: N/A
Total net assets: €1.1m
Family home mortgage information
Lender: PTSB
Interest rate 2.8%
Type of interest rate: tracker, variable, fixed: Fixed
If fixed, what is the term remaining of the fixed rate? 3.5 Yrs
Remaining term: (Original term is not relevant): 205 months
Monthly repayment: €1300 (+€1500 overpayment)
Other borrowings – car loans/personal loans etc
PCP car - €450 p/m
Do you pay off your full credit card balance each month? Yes
Pension information
Value of pension fund: 1st fund €300000
Current fund €50,000 (7% & 10.5% employer) – maxing with AVC to €28k limit.
Other savings and investments:
PTSB monthly saver: Savings (2.5%) €23500
Overflow savings PTSB (0.1%) €4000
Raisin Demand Deposit 3.1% - €15000
Credit Union - €5500
Prize Bonds € 2800
Other information which might be relevant
Life insurance: Mortgage Insurance and Death in Benefit.
What specific question do you have or what issues are of concern to you?
With €50,000 cash in savings, I am now considering diverting my monthly saving amount of €2k to mortgage from this month, giving a monthly overpayment of €3500 – is this the right thing to do?
The last of my shares with my previous company will mature in March of 2025 – I am considering selling these to pay into the mortgage in March – with the overpayment I could be finished mortgage in late 2025? Is this the right thing to do or should I continue to build cash and invest this?