Hi ThirstyLizzard
Things seem to have changed quite dramatically for you since your last post -
https://www.askaboutmoney.com/threads/30yo-looking-for-best-way-forward.200039/
Would it be rude of me to enquire whether the €800k is the proceeds of a business sale? I assume you have taken appropriate tax advice and that you have split the €800k across a number of financial institutions.
In answer to your questions:-
1. Should we pay off our mortgage? Are there any arguments AGAINST paying it off?
Yes, but you won't get a better risk-adjusted return on your money after you take investment costs and taxes into account.
2. We would ideally like to have this money working for us, rather than sitting in a bank earning zero interest. Income generating investments are of particular interest (real estate, dividend stocks, p2p loans etc). Any advice around income investing would be appreciated.
Is there a particular reason why you are particularly interested in generating income (as opposed to capital growth) from your investments? An income focused strategy
might make sense if you intend to remain in a low tax bracket (i.e. if you intend to live off your investments on a long-term basis). If that is the case, then you might consider including a portfolio of income focused investment trusts (such as City of London IT) as part of the mix.
3. Is there anything else that we're not thinking of?
I don't know how to answer that question!