Half way there and a slight change of direction

skint_spice

edinburgher wrote: »

It has come to my attention that the standards of discussion on this board are slipping :rotfl:

Keech!

It's about the only word I can type that adequately describes my writing...

Yeay for holiday money El:T:T

Karmacat

skint_spice wrote: »

Yeay for holiday money El:T:T

:j:j:j

And yesterday, we *did* have a party - no keech involved

gallygirl

I've never heard of keech

elantan

Maybe it's an Ayrshire word ? I knew it but I used to live in Irvine

elantan

well money in .... money out, i'm sure you know how that goes, a little bit more paid off the mortgage, done so with the knowledge that I couldve made the money work harder elsewhere, maybe I need to find a way to sort that. I get a sense of relief everytime I pay money off the mortgage but it is very quickly replaced with the feeling and knowledge that the money would work harder elsewhere.

Maybe I need to wait till the mortgage is offset then have a rethink .... as by then atleast I know the mortgage is covered so that worry is taken care of, and I can persue the pension etc

Karmacat

Its the old logic of which gives the better percentage return vs peace of mind that your home can't be taken away from you ... when will the breakeven point on the offset come, El?

edinburgher

I think the inherent problem is the split between known and unknown.

Paying off your mortgage is a tangible, fixed return on an asset that you will eventually own in a physical sense. Investing the money in a pension is a line on a website/spreadsheet that represents the promise of a future income.

It takes a lot of confidence to prioritise the intangible over the tangible, but sometimes we need to. Otherwise we miss opportunities (while avoiding risks).

There's probably no right answer re. what is an appropriate level of risk, it's all wrapped up in your expectations. If you can live with a safe (but relatively frugal) future, there's no need to take risks just because

elantan

It will deff be this year Kc so I wouldn't have too long to go

And yep Ed that's it exactly, I am managing to pay £560 a month into my pension so really should be happy with that ... But the knowing that I could make more going into the pension .... Will maybe review it every month and see how I go ?

beanielou

Blimey that is some amount to go into your pension el :j

edinburgher

£560/mth is mahoosive, no idea how you manage to put so much by! That's slightly more than Mrs E and me combined. Think we're at £814 all in + ad hoc extra ISA payments from MB.