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The time now is 05/17/08 - 13:55

Is it better to pay off mortgage or increase pension contributions?


RealCool.BIZ Forum Index -> Finance -> Money Management

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innis
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Joined: 21 Sep 2004
Posts: 4



PostPosted: 02/28/08 - 06:06    Post subject: Reply with quote

I recently got left a considerable amount of money and am contemplating what to do with it. It is very important to me to secure a better future for y family and me, so Ill either be paying off my mortgage or increase pension contributions. Id like to get some opinions on which of the two is better, and will ensure more stability in the future?
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archie
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Joined: 30 Dec 2005
Posts: 5



PostPosted: 03/28/08 - 22:49    Post subject: Reply with quote

Without doubt pay off your mortgage. Your house is most definitely your most important asset, and if you own it outright you at least dont have to worry about that anymore even if you become unemployed or sick. God forbid, if you might get a car accident and die tomorrow, your family at least has a roof over their heads. And the good thing is, you will have loads of extra money left each month if you do that. So you can still save up, or even pay more into your pension!
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