Meet the Other Phone. Only the apps you allow.

Meet the Other Phone.
Only the apps you allow.

Buy now

Please or to access all these features

Chat

Join the discussion and chat with other Mumsnetters about everyday life, relationships and parenting.

pay off some of the mortgage or pension? what is better?

1 reply

00865jkk · 10/07/2022 11:54

I wonder whether collective MN has any words of advice on financial question. I have an opportunity to take out around 80k from our pensions (that excludes taxes - but it's in a different jurisdiction and we have to pay them anyway). I could either add it to my current pension - which I started at 38 (but it's a public sector one so defined benefit one) or we can put it to pay down our mortgage a bit. I am torn. If we pay our mortgage then our total goes down to 300k - which is more comfortable with interest rates rising, but my pension will then start from age 38.........not sure who to ask about this in real life. any tips?

OP posts:
Luredbyapomegranate · 10/07/2022 14:23

The usual wisdom is pension, but if you will struggle with mortgage with interests rising perhaps split it.

I would see a financial advisor

New posts on this thread. Refresh page
Swipe left for the next trending thread