Fat Pension Vs Paying off mortgage early

[EternalOptimist]

I choose the third way.

Live in a sh!thole, contract, save like mad.
buy house(40k), contract, save like mad.
buy final house(200k),contract,save like mad.
Use interest on savings to live on in semi retirement (target saves 300k)
Use savings when end is in sight for whatever

I am half way to my 300k and its taken 11 years so far. Mortgages are for mugs(imo)

[bogeyman]

Mortgages are for mugs(imo)

Agree EO - and pensions are for mugs too.

[GreenerGrass]

Agree EO - and pensions are for mugs too.

Admirable if you can manage it but surely mortgages aren't for mugs when houses are going up by more than you can save.
I could see the logic if you were living somewhere rubbish but had a couple of BTLs on the side, otherwise you might as well use the leverage of a mortgage on your main residence.

Granted we're not in a 1996-2004 growth spurt anymore.
I remember saving for my first deposit when I would have been better off getting a 100% mortgage and then remortgaging after 2 or 3 years.

[EternalOptimist]

Admirable if you can manage it but surely mortgages aren't for mugs when houses are going up by more than you can save.
I could see the logic if you were living somewhere rubbish but had a couple of BTLs on the side, otherwise you might as well use the leverage of a mortgage on your main residence.

Granted we're not in a 1996-2004 growth spurt anymore.
I remember saving for my first deposit when I would have been better off getting a 100% mortgage and then remortgaging after 2 or 3 years.

if house prices are going up faster than you can save then not only are you in deep sh!t my friend, but you always will be.

are you sure you are a contractor ?

[bogeyman]

I have an Idependant Financial Advisor who comes sniffing around every 6 months or so.

Don't know why the poor man bothers, as I've never bought any serious financial products off him in 15 years. We have a cup of coffee and a nice chat and he leaves empty handed.

He then insists on writing me reports on what I should be doing, which I bin. He seems to age markedly at every visit. Poor sod.

[EternalOptimist]

He then insists on writing me reports on what I should be doing, which I bin. He seems to age markedly at every visit. Poor sod.

let me know when he looks as old as you do, I'll send the poor fellow a bunch of flowers

[bogeyman]

let me know when he looks as old as you do, I'll send the poor fellow a bunch of flowers

Well you're no spring chicken!

[GreenerGrass]

if house prices are going up faster than you can save then not only are you in deep sh!t my friend, but you always will be.
are you sure you are a contractor ?

You obviously didn't live in the south east in the years I mentioned (as a permie during much of it). The balance has tipped the other way now thank God.

[EternalOptimist]

lol
1083 years since you ask