Pension or Property?

Pension or Property?

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Discussion

mattman

Original Poster:

3,176 posts

223 months

Sunday 25th October 2020
quotequote all
Admittedly I’ve been a bit crap at planning and over the years have only had the default work pension schemes with minimum investment.

Now safely middle aged I have 7 pensions, all but the current work pension are dormant from an additional investment and the total pot value is pretty poor.
My current work pension isn’t too bad and due to my age, I’m paying more into each month than ever before.

I don’t currently have the capacity to add more each month, but I do need to do something with what I have.

So the question is, do I consolidate all of the existing pensions into 1 ( the current work pension), consolidate all but the current work one or finally cash all but the current one in and use the money to purchase a buy to let property with an interest only mortgage?

mattman

Original Poster:

3,176 posts

223 months

Sunday 25th October 2020
quotequote all
Thanks for the replies - I need to spend a lot more time looking at the details!

Currently 47 so no chance of retirement anytime soon.

2 of the pensions are under 5k the rest are over 10k bit no where near 3 figures for any of them