What to do?

Teeley

Registered User
Messages
13
Age: 44
Spouse’s/Partner's age: 43

Annual gross income from employment or profession: 85k
Annual gross income of spouse: 70k

Monthly take-home pay : 6000

Type of employment: e.g. Civil Servant, self-employed :
Private industry and Civil Servant

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

Rough estimate of value of home: 850k
Amount outstanding on your mortgage: 0
What interest rate are you paying? NA

Other borrowings – car loans/personal loans etc 0

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

Savings and investments:
Mortgage property 1:value 390k, mortgage 45k @ 1% interest
Mortgage property 2: value 350k, mortgage 145k @ 3.2% interest
Net rental income for both after mortgage payments: 1

Savings:
State 150k
CU 20k
Shares 50k

Do you have a pension scheme?
yes..unsure of private company details.
Other civil service 50% with Irish Life AVC of unknown value.

Do you own any investment or other property? Above

Ages of children: 3 year old

Life insurance: none


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

1. Where to get good pension and life insurance advice? Need to get a handle on both.

2. Considering paying off higher of investment mortgages with 70k savings and then overpayments for 3 years. Right or wrong?

3. any other general advice? Both work hard but feeling goalless with savings/investments etc

Thank you!
 

moneymakeover

Frequent Poster
Messages
587
Very good position

Are you unsure how much you have in your pension? You could max out your contributions using savings. The 150k in savings would give you several years worth of maximum pension contributions

The rental income is missing or I can't see it
 

Teeley

Registered User
Messages
13
Very good position

Are you unsure how much you have in your pension? You could max out your contributions using savings. The 150k in savings would give you several years worth of maximum pension contributions

The rental income is missing or I can't see it
Rental income is 3250 per month combined with approx 1600 going towards mortgage payments.
Is Irish Life the best company to have an AVC with?
 
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