We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Paying off mortgage
Comments
-
It's small because it only started less than 10 years ago.
0 -
With regards to investing, outside a stocks and shares isa I would be taxed when selling shares over the value of £3k (profit) per year. I have shares in various companies at the moment which are over 100% up, but if I was to sell I'd lose some of the profit.
0 -
That was my intent to prompt the OP to investigate what might be possible and not just focus on an A or B decision.
There is scope to consider wider but we cannot do it, the OP needs to understand the constraints and opportunities so the best decision, for them, can be made.
Your life is too short to be unhappy 5 days a week in exchange for 2 days of freedom!
One can always make more money. No one who has ever lived can create more time.1 -
I'd agree, there is always the temptation to frame questions in a binary which frequently leads to one conclusion - which is often wrong. Like you, I was trying to get the original poster to re-frame the question in a way which might prompt thoughts about other options - those other options may ultimately be less viable than "pay off the mortgage in full" but their consideration makes the process and decision stronger.
0 -
If you pay more into your pension does your employer also pay more?
"You've been reading SOS when it's just your clock reading 5:05 "2 -
No, my employer doesn't.
0 -
So you're also got £20k per year in a S&S ISA? If not, why are you investing outside an ISA and paying tax? It's really worth looking at the complete picture rather than just parts of it.
Remember the saying: if it looks too good to be true it almost certainly is.0 -
I already filled up my cash isa this year.
0 -
I always find the most interesting and stimulating posts those where forum members are expected to guess what the OP has already got in terms of finances and arrangements such that when suggestions are made to fill the vacuum of no information the OP subsequently advises got all that.
Your life is too short to be unhappy 5 days a week in exchange for 2 days of freedom!
One can always make more money. No one who has ever lived can create more time.3 -
It doesn't really make any sense to fill up a cash ISA and then have taxable S&S holdings.
Remember the saying: if it looks too good to be true it almost certainly is.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.7K Banking & Borrowing
- 254.9K Reduce Debt & Boost Income
- 456.1K Spending & Discounts
- 248.2K Work, Benefits & Business
- 605.8K Mortgages, Homes & Bills
- 179K Life & Family
- 263.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards