C
CuriousLar
Guest
Hi all,
My mother who is 50 is re-mortgaging her house (why dont ask!!!) Her financial advisor has suggested two pensions options she should take in order to pay off her remaining mortgage when she is 65yrs, (she is taking out a 20yr mortgage)
Option 1:
pay 200 pm into scheme:
Result: at age 65 enough left to clear bal on mortgage
Option 2:
Pay €5k upfront now and €100 pm
Result: at age 65 clear mortgage and small lump sum or small pension
I thought option 2 would be best as she would have the €5k now and as she only works part time €200 pm might be be a stretch with her new mortgage repayments.
Any advise?
tnx
My mother who is 50 is re-mortgaging her house (why dont ask!!!) Her financial advisor has suggested two pensions options she should take in order to pay off her remaining mortgage when she is 65yrs, (she is taking out a 20yr mortgage)
Option 1:
pay 200 pm into scheme:
Result: at age 65 enough left to clear bal on mortgage
Option 2:
Pay €5k upfront now and €100 pm
Result: at age 65 clear mortgage and small lump sum or small pension
I thought option 2 would be best as she would have the €5k now and as she only works part time €200 pm might be be a stretch with her new mortgage repayments.
Any advise?
tnx