Invest for the future, or clear your mortgage ?

Murphy_The_Cat

purch wrote: »

I know the sensible thing is to look at the Tax situation, rate of return blah blah blah.......

Personally speaking I have been lucky enough to be mortgage free since 1993 (33yo) and I can tell you the freedom and peace of mind that affords you to do all or any of the other choices is worth everything in my book

Naturally, if you elect to overpay your mortgage, you are guarenteed to have a positive result (as you have) whereas investing it into S&S all could go completely pearshaped.

Lazy_Runner

I only became debt free in September so since then I have been building up my cash savings pot. I will continue to do that till I get 6 months worth of salary saved, however that won't be for a while yet. In the next few months I am going to start investigating buying shares so will be ready to invest in S&S when my cash pot is sufficient.
I am also paying off small amounts of my mortgage with the £2 coins I collect.

Ian_W

Murphy_The_Cat wrote: »

Naturally, if you elect to overpay your mortgage, you are guarenteed to have a positive result (as you have) whereas investing it into S&S all could go completely pearshaped.

I think it's EXTREMELY unlikely to go "completely pearshaped" - well it might in that Africa fund you like !!
But I'd endorse what purch says about about being mortgage free. Very liberating, as in ...
CREDIT CRUNCH, so what
INTEREST RATE HIKES, not my problem, bring em on
REMORTGAGE ARRANGEMENT FEES UP, what can I say :cool:

I accept you can make more investing than the the mortgage costs you, but is it an investment or is it your home? If it's the latter, get ownership first - then invest.

Murphy_The_Cat

Ian_W wrote: »

I think it's EXTREMELY unlikely to go "completely pearshaped" - well it might in that Africa fund you like !!

I'll whisper it very quietly, so come closer, no closer, no right up to me .......................OK, I'll tell you if you promise not to mention it to anyone else. Can you guess which one of my funds is bucking the current doom/gloom trend and is actually doing rather well for me ? I'll give you a clue:j:j:beer:



p.s. I'm taking the belt and braces approach. Overpaying my mortgage AND buying into S&S.