Overpay mortgage or buy more pension years?

jamesd

Sapphire, it is when you need to sell it after retirement to get money to live on or because you can't carry out necessary repairs. It's also often the major part of an inheritance. It has a dual role.

clairehi

Izz wrote:

Lots of helpful ideas here!

The pay rise is about £300 per month (thank you!!!)

Izz

wow, that is an impressive raise - well done!

Sapphire

jamesd wrote:

Sapphire, it is when you need to sell it after retirement to get money to live on or because you can't carry out necessary repairs. It's also often the major part of an inheritance. It has a dual role.

But if you sell your residential property after retirement, where do you live? It's only an investment if you are able to downsize to a smaller place, or one in a less expensive area than you have been living in. Not everyone is able to do either of these things.

jamesd

If someone can't or doesn't want to then it may well be an investment they can't leave. Or may be for them a cost, not an investment. Though if it's later inherited it may then be a sold investment.