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drawdown early to build or pay off mortgage early??
yakko99
Posts: 1 Newbie
I, 57, have an option to draw on a slice of my (occupational) pension funds whilst remaining in the same job AND continue to pay in to another slice of said pension, am considering using the funds to either build extension, or pay off mortgage early, or do the sensible thing and leave it alone and wait for retirement age.
Any comments most appreciated.
Any comments most appreciated.
0
Comments
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What is the interest rate on the mortgage?
What is the expected average rate of return on the pension funds?
How much tax will it create?
Will the reduction in the annual allowance hit your planning?
What other funds do you have (savings/investments) and are they available to use?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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