Moneymakeover Mid working life check-in - Am I on the right path?

[sonandheir]

Well done you're in a strong position and longterm you should be fine as you're clearly planning ahead.

If there is a choice between paying down mortgage or AVCs, put more into the avc.
You get 40%relief on your pension investments, which will grow tax free. Essentially you are borrowing this money at 2.1%(mortgage rate) and getting a Guaranteeed 40 % return. It's a no brainer.

The only advice I'd disagree with above is on the crypto. If it's Bitcoin hodl it for a few more years, if it some other crypto sell up.

 

[Brendan Burgess]

You get 40%relief on your pension investments, which will grow tax free. Essentially you are borrowing this money at 2.1%(mortgage rate) and getting a Guaranteeed 40 % return. It's a no brainer.

This is not correct. He will pay tax on the pension as he receives it.

Brendan

 

[conor_mc]

I have 2 separate stock accounts (degiro) for both kids,

Are these actually in the kids’ names, or in your name? If the latter, watch the CAT tax.