dartboardio wrote: »
Are you basically saying you'll have the opportunity to pay off most of your mortgage? (Sorry, didn't do the full calculations!)
If so, I'd pay it off or as much as you can pay off in a heartbeat. Sure basically all your income will be 'pocket money' if a large chunk isn't been taken up by the mortgage each month.
krissovo wrote: »
The global economy could do anything over the next 12 months so personally I would rather have solid assets right now as cash could devalue overnight. Also your logic is a little off in saying you are only saving 150 per month, you are actually saving 750 per month. Put this money to work in higher risk investments or even private pension would net more for in the long term.
The only real investment option for little or no risk is state savings. Some pay interest up to 16% but your money is tied up for 10 years to get that return. Other State options to have the cash available pay between 2 and 5% but depending on inflation during the savings period would erode the net gain.