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Pay off Mortgage or invest in pension
chrisL_2
Posts: 1 Newbie
I have a lump sum of £50,000 available following inheritance.
I have not paid into a pension fund for many years due to a shortfall of avialble funds. I have a dilema. Do i now use the money to clear the mortgage then use the money saved to commence paying tino the pension scheme. I can afford approx £300 per month.
Or
Do i continue to pay off the mortgage monthly and invest the lump sum of £50,000 into my pension fund, bearing in mind I have no surplus cash to then continue with monthly pension fund payments for a nother few years.
I am 41 years old and my pnsion runs until I am 65
I have not paid into a pension fund for many years due to a shortfall of avialble funds. I have a dilema. Do i now use the money to clear the mortgage then use the money saved to commence paying tino the pension scheme. I can afford approx £300 per month.
Or
Do i continue to pay off the mortgage monthly and invest the lump sum of £50,000 into my pension fund, bearing in mind I have no surplus cash to then continue with monthly pension fund payments for a nother few years.
I am 41 years old and my pnsion runs until I am 65
0
Comments
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Good question.I'd like to know peoples views.Might be the wrong board though.In an Acapulco hotel:
The manager has personally passed all the water served here.:rotfl:0
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