Is it better to prepay mortgage or Start pension?
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melisenda
Apprentice
Joined: 01 Apr 2008
Posts: 3
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 Posted: 08/11/10 - 10:02 Post subject: |
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| Since, in my entire life, I have never got anything, now I am in this wired position where my distant cousin left me an inheritance rather unexpectedly. I am not sure if I’m the right person to handle these assets. These are not just stuff and real estates, but I’ve got some cash, also. I’m thinking about what I can do with it. And two thoughts are present at the moment - either I’ll repay my mortgage, either I’ll start my pension. Which do you think is better? |
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humberto
Apprentice
Joined: 03 Aug 2007
Posts: 3
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| Posted: 09/09/10 - 23:06 Post subject: |
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| I think that you should start your pension. I’m guessing that you want to deposit this as a starting lump sum, so that way you can continue with payments regularly, later. If you repay your mortgage, you should expect a penalty, and this way you might even get benefit from interest. So, you can just open your savings account, which can be option 3. |
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