How does my financial position look

Chucky Q

Age 49

Salary 105k

Bonus 10k

Spouse Salary 38k

Home value 580k - mortgage 380k 20 years left

Investment property value 300k - mortgage 200k 15 years left. rent needs a supplement of €400 per month to cover mortgage/mgt fee/tax etc

Pension pot - 350k employer and my contribution is 15%

my plan is to retire at 65 and use the cash element from pension to clear what’s left of my home mortgage with rent from investment property supplementing pension.

is this a viable approach?

Mr Burny

You seem to have a few assets anyway !

Atlantic Dawn

Very good position, I'd be inclined to max out your pension relief to take account of the 25% relief and when you hit 50 take it up to the 30%.

Henry Ford III

Borrowings are quite high and late term too.

Make sure you have plenty of income protection.

Otherwise it looks ok.

silver2020

It's ok, not overly comfortable but current earnings are good.

With 20 years and 380k on mortgage, that's the concern especially if you have any issues with employment.

Is the investment property really needed? Market at a high currently, so I'd be looking at that and paying down some of pdh mortgage and free up cash to enjoy some of life's pleasures now.

You look good for when you are over 70.

Jim2007

Your plans are based on a high risk, leveraged portfolio so there is a strong element of luck involved in achieving your objective. Only time will tell if it works out for you.

Raoul Duke III

Max out your pension.

Do you have children? (Guessing not as you didn't mention them but they could change the maths).

Can you fix your PPR mortgage?