Overpay mortgage or save into LISA or Pension?

parsnip88

DiggerUK said:

parsnip88, as you recognise you are not average, would it be possible to now get you to consider the 'leeding obvious, I'm sure once you do it will be easy to get yourself grounded. I would add that nobody knows what interest rates will be going forward either.

Your both well off, you already have good pension provision, fair savings and 60k p.a.. So why are you ignoring the gorilla in the room?.....I am of course referring to your debt which as you know must be paid off at some point. 

I should declare I'm in the get rid of mortgage a.s.a.p. brigade; in your case a sensible plan should see you debt free in under 15 years. Make the mortgage your number one financial objective..._

Don't get me wrong I'm all for paying off mortgages early, however I'm trying to work out which method is probably (as nothing is certain as we know) going to be the best/smartest financial move going forward backed by sensible maths. 
After a bit of number crunching it's a no brainer to increase pension contributions but when it comes to overpaying vs s&s isa its more difficult as there are many more variables such as level of risk, return and future mortgage deals/interest.  

DiggerUK

Best advice I was ever given by a much missed and loved relative......"seek answers from anywhere you can and from anybody you can, then hold your own counsel....it's you that has to live with the decision"

Best of fortune..._

parsnip88

steampowered said:

I would suggest a diversified fund with a low fee, such as HSBC All Share Index. Possibly Vanguard Lifestrategy 100 if you don't mind the 25% UK weighting.

The "ready made" portfolios tend to just be a byword for higher fees.

Moneybox will charge higher fees than a standard provider, suitable for ease with getting started for lower amounts only but not for substantial amounts over a long period of time. You could consider iweb or interactive investor.

thankyou I will look into these. 

Thrugelmir

parsnip88 said:

DiggerUK said:

parsnip88, as you recognise you are not average, would it be possible to now get you to consider the 'leeding obvious, I'm sure once you do it will be easy to get yourself grounded. I would add that nobody knows what interest rates will be going forward either.

Your both well off, you already have good pension provision, fair savings and 60k p.a.. So why are you ignoring the gorilla in the room?.....I am of course referring to your debt which as you know must be paid off at some point. 

I should declare I'm in the get rid of mortgage a.s.a.p. brigade; in your case a sensible plan should see you debt free in under 15 years. Make the mortgage your number one financial objective..._

Don't get me wrong I'm all for paying off mortgages early, however I'm trying to work out which method is probably (as nothing is certain as we know) going to be the best/smartest financial move going forward backed by sensible maths. 
After a bit of number crunching it's a no brainer to increase pension contributions but when it comes to overpaying vs s&s isa its more difficult as there are many more variables such as level of risk, return and future mortgage deals/interest.  

The greatest risks are the 3D's. Death , Divorce (relationship breakdown) and Distress ( Financial , i.e. unexpected redundancy or major unplanned expense). It's the curved balls in life that send even the best plans off course. Anything else can be accomodated for by making adjustments as time passes. 

parsnip88

DiggerUK said:

Best advice I was ever given by a much missed and loved relative......"seek answers from anywhere you can and from anybody you can, then hold your own counsel....it's you that has to live with the decision"

Best of fortune..._

Absolutely I'm a great believer in learning from other people and asking for help when I do not know, however then I gather everything everybody has said and draw up my own conclusions.