R
rmelly
Guest
On a number of posts I have seen people say that you should focus on mortgage rather than pension.
I am single, early 30's currently paying 12.5% into defined contribution pension (have been for 5 or so years incl. previous employer) and plan to start overpaying my 35 year mortgage by €200 per month.
I'm aware of the PAYE/PRSI relief for pension contributions and benefits of overpaying mortgage.
In general which should I focus on - the pension or the mortgage? I am 'happy' with my level of debt and ability to service it, and am probably more concerned with boosting pension fund (value of approx 75k currently after market hiccups).
On top of these I expect to be saving approx €700 - 800 per month after annualising/budgeting for all costs including annual contingency for house repairs etc etc.
Should I increase the 200 to 250 or even 300? Or increase pension further? Employer pays 5%, so current total is 17.5%.
I am single, early 30's currently paying 12.5% into defined contribution pension (have been for 5 or so years incl. previous employer) and plan to start overpaying my 35 year mortgage by €200 per month.
I'm aware of the PAYE/PRSI relief for pension contributions and benefits of overpaying mortgage.
In general which should I focus on - the pension or the mortgage? I am 'happy' with my level of debt and ability to service it, and am probably more concerned with boosting pension fund (value of approx 75k currently after market hiccups).
On top of these I expect to be saving approx €700 - 800 per month after annualising/budgeting for all costs including annual contingency for house repairs etc etc.
Should I increase the 200 to 250 or even 300? Or increase pension further? Employer pays 5%, so current total is 17.5%.