Mortgage or pension? Where to put your spare cash

Peace of mind with a smaller mortgage or better returns from a pension?

Most people with extra cash either pay down their mortgage or ramp up their pension. Image: iStock

Most people with extra cash either pay down their mortgage or ramp up their pension. Image: iStock

If you’ve managed to salt away some cash during this never-ending lockdown, you might be wondering what to do with it. With banks potentially soon charging you to hold this money, you might want to put it to work. Two of the most common approaches to use excess cash are to pay down your mortgage or ramp up your pension.

But which is the best option?

The Irish Times
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