Investment / Retirement Plan Advice

[anonymous-user]

Hi, I'm hoping someone can point me in the right direction.

I am 30 years old, owe 116k on my mortgage (property valued at 170k) and would like to drastically cut down on working when I am 45 years old, maybe do some travelling.

My plan at the moment is to overpay my mortgage so that I am mortgage free at 45, no plans to move as the house is 3 beds with garage, all I need.

I have enough money to last me about a year in an easy to access savings account, should I lose my job etc.

After bills, living expenses and the mortgage over payment I am left with £700 to save/invest.

My pension is with the Peoples Pension with a 1% employer contribution but don't think I can access until I'm 57?

I have looked into Vanguard life strategy funds but am unsure if this would be the best option, please advise what I should do with my £700 p/m.

Thank you.

Edited by anonymous-user on Friday 29th September 19:44

[Steve H]

I'd suggest a chat with Ginge R, one of the forum regulars and a very helpful chap.

[red_slr]

With fair winds you are looking at c.£200k in 15 years.
An ISA (S&S) is going to be a good option.

Once you have built that up you could probably withdraw c.£8000 PA and maintain the pot.

Have a read on here

https://forum.mrmoneymustache.com/index.php