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Invest our savings differently or pay down our £350k mortgage?

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Comments

  • EdGasket
    EdGasket Posts: 3,503 Forumite
    Pay the mortgage off. I did and never regretted it.
  • bowlhead99
    bowlhead99 Posts: 12,295 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Post of the Month
    badger09 wrote: »
    Wot - no mention of pension atush?:p

    As it already got mentioned by at least six other people now, the OP probably already knows it's a decent option :)
  • badger09
    badger09 Posts: 11,575 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    bowlhead99 wrote: »
    As it already got mentioned by at least six other people now, the OP probably already knows it's a decent option :)

    That doesn't usually stop atush:D
  • atush
    atush Posts: 18,731 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    badger09 wrote: »
    Wot - no mention of pension atush?:p

    Pretty sure he said he already had one lol
  • jimjames
    jimjames Posts: 18,657 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    edited 31 January 2017 at 12:24AM
    EdGasket wrote: »
    Pay the mortgage off. I did and never regretted it.

    Funnily enough, I haven't and haven't regretted it either :)
    I find it more satisfying to have a investment portfolio that is growing substantially faster than the mortgage balance would have dropped so the gap is reversed now ie the portfolio is several times the mortgage balance. It's fine to clear the mortgage but it can mean that you have little funds at your disposal if you do so.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • Jonbvn
    Jonbvn Posts: 5,562 Forumite
    Part of the Furniture 1,000 Posts
    jimjames wrote: »
    It's fine to clear the mortgage but it can mean that you have little funds at your disposal if you do so.

    I agree. It is important to have funds in place for when life throws you the inevitable "curve ball". Paying off the mortgage, is unlikely to fulfill that requirement.
    In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:
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