peterfile - Member
Benh - is that instead of a pension or something. Seems a bit extreme to save up 200+ k while living like a monk for any other reason.
Yeah, that's sort of where I was going with my comment. It would take a more intelligent person than me to do the calcs, but is the tax relief/employer contributions on upping pension contributions not better than sticking a load of NET salary into ISAs?
Do you have any other investments? You say you're in thise for 25+ years. I'd have dumped a load on a deposit for a buy to let, rent it out to cover your interest costs, then keep sticking cash into an ISA if you want.
It's where I was going as well. BenH mentions he's already paying a wack into pensions.
- pension payments (although my NHS pension is taking the Michael with 13% contribution, state retirement age and no more final salary link).
Guys - that's right. I'm doing pension, ISAs and hopefully the mortgage will be gone by the time I'm 40. Just gives me more flexibility, that's all. I don't have a very exciting life, but I'm no monk.
I've got to work until I'm 69-70 to get my NHS pension (whatever's left of it by then), so it makes sense to lay some more foundations now.