QA58 - Listener Questions, Episode 58

In this Meaningful Money Q&A (Episode 58), Pete Matthew and Roger Weeks answer six real listener questions on the money decisions facing UK savers and investors. We cover paying off your mortgage versus investing, gifting surplus income to manage care fees and inheritance tax, and how to buy capital gains tax-free gold. We also explore consolidating pensions before retirement and how LGPS members can weigh up AVCs versus ISAs and AVCs versus APCs. Tune in for clear, practical UK personal finance, pensions and retirement planning guidance - education, not advice.

Shownotes: https://meaningfulmoney.tv/QA58

02:18  Question 1

Hi team

Been listening for ages and having a psychological meltdown over this.

I have approx £20k in my S&S ISA and £20k left on my mortgage.  How can I justify the decision to pull the trigger and pay it off?  Note that I also have £30k approx in a cash ISA and £5k float easy access.  I also overpay the mortgage about £800-£1k per month but that's eased off the last few months, with the money diverted to an early year getaway.

I'm aware there isn't a perfect result or conclusion but I'm struggling to get past how to make the decision.

In context, I do have a big holiday coming up later in the year (£5k-9k expected spend), but I'm itching to pay this off and get regular investing.

It might be that writing this email I'm working it out for myself but I'd be keen to hear your thoughts (not advice!) on how I can think about the situation or other angles maybe I'm not thinking about.

Michael

07:33  Question 2

Hi Pete, Roger & Nick,