Pension or Property?
Discussion
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?
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?
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