Last edited: Oct 19, 2016 Age: 30 Spouse’s/Partner's age: None Annual gross income from employment or profession: 100k Annual gross income of spouse: N/A Monthly take-home pay ~5k Type of employment: private sector employee In general are you: (a) spending more than you earn, or (b) saving? saving Rough estimate of value of home 450k Amount outstanding on your mortgage: 360k - 35 years remaining What interest rate are you paying? 3.5% Other borrowings – car loans/personal loans etc None Do you pay off your full credit card balance each month? Yes If not, what is the balance on your credit card? Savings and investments: 35k savings Do you have a pension scheme? No Do you own any investment or other property? No Ages of children: None Life insurance: Mortgage protection only What specific question do you have or what issues are of concern to you? I recently bought a house, after saving for the deposit for a good while. My mortgage payment is 1500, and I spend about 1500 a month on living costs (including insurances, utilities etc., this is probably too high, I'll admit), so I have 2000 over. For the last few months, some of this has been taken up with one-off expenses (furniture etc for house), but I've started using it to overpay the mortgage. I'm reasonably happy with my current level of savings. However, I don't have a pension. My employer doesn't do pension contributions. Would I be better starting to contribute the maximum (20%) to one? This would take about 1000 off my take-home pay, still allowing me to overpay the mortgage to a smaller extent. Alternatively, would I be better paying off the mortgage as fast as possible (if I kept up the rate of overpayment, it would be cleared in around 10 years), and starting a pension later? Intuitively, I feel like I should be minimising the amount of interest I pay on the mortgage by aiming to clear it as fast as possible (and owing so much money makes me slightly uncomfortable), but on the other hand the pension is presumably more tax-efficient. I realise this is very much a first-world problem... Thanks for any advice.