Pay off the Mortgage or top up my Pension pot?

hiyer

I agree with most of the comments above and I would payoff mortgage. Mortgage is a debt that you current owe. Pension is paper money that you may never see in the future - the theory is that when you retire your pension fund would contribute to supporting your standard of living. The reality could be completely different. Most of the recent share market and property market losses are pension funds - that is your money and my money. To add to all these, most of the zillions paid on bonuses to cowboys in the city also partly funded by pension funds.

So instead of dreaming of a large sum of pension pot, I will pay off the real debt - mortgage!!!

dunstonh

Most of the recent share market and property market losses are pension funds

In the scheme of things, short term volatility does not have that much impact on long term returns.

So instead of dreaming of a large sum of pension pot, I will pay off the real debt - mortgage!!!

Then you can mortgage the property again when you get into retirement because you failed to save towards your retirement.

Providing for retirement and paying your mortgage shouldnt be a choice of one. You should do both.