Do we need a financial advisor?

MEM62

Bostonerimus1 said:

MEM62 said:

Bostonerimus1 said:

Having a paid off mortgage by 50 shows that you have some financial skills

Or does it?  If they have cleared their mortgage by making overpayments instead of ploughing that extra cash into their pensions they are not likely to be in as good a financial position now as they could have been by giving priority to their pensions.  

Paying off a mortgage shows an ability to budget. While there is constant debate on the relative merits of paying down a mortgage or investing that money, the OP has chosen to "do a bit of both" as they also have pensions and some savings. They are in a far better position than many people and that is worth some praise.

That is a good point and, yes, they are.  Quite often these forums as asked shall I do this or that with a sum of money when, if fact, a bit of both is the sensible way forward.