how,where to invest

meathfarmer2024

Hi everyone, I have recently sold a house and, as a result, have 200k after tax to invest. I got fed up being a landlord, so property is not really an option. I have no debt other than a small mortgage on our home, which is fixed until 2027 with AIB. Neither my wife nor I have any form of pension; we are both 43 and make about 80/90k per year. I have some money currently invested in the stock market and am not adverse to risk, but losing almost half profits on exit does bother me. I need to invest this money carefully and hope it grows sufficiently over the next 23/25 years to help with our retirement. Many thanks in advance.

The J Stands for Jay

Neither my wife nor I have any form of pension

invest this money carefully and hope it grows sufficiently over the next 23/25 years to help with our retirement.

There's your answer. Start your pensions.

Sono

Pension all the way

Henry Ford III

If you can get tax relief, pensions are the obvious route.

As always get professional advice.

Q&A

(almost) clear the mortgage* and put the balance into a pension. Then take what would have been your monthly mortgage contribution and start paying that (and perhaps more) into your pension.

*There might be a small benefit to keeping a tiny mortgage I.e., free banking

meathfarmer2024

Thanks very much for the advice. I take it there is no problem starting a pension with a large lump sum? or adding to you pension at any time with a lump sum payment?