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Thread: Mortgage savings vrs retirement savings.

  1. #1
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    Aug 2020
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    Mortgage savings vrs retirement savings.

    ok. so ... I know I am simply over thinking this.. but I thought I would ask the hive mind...

    my husband job is stable. he has a rrsp. that we put money toward monthly.
    we also have a tfsa for me.

    and a mortgage that has 11.5 yrs left.


    we have a bit of room in the rrsp that we could then max that a bit. or we could put the amount to the mortgage an pay it off..
    however it would really only take 1 year off...


    so .. should we put the extra to retirement... and enjoy the power of compound interest... or try and be mortgage free sooner....

  2. #2
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    Oh, I understand what you're saying.

  3. #3
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    Mar 2021
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    It would be better to pay off the mortgage and get rid of it. Yes, the mortgage helps you a lot to buy a house, but it's a hassle after that. I also got a mortgage from Mortgage Advice Leeds. I will never regret that I took a mortgage, namely from them, because they offered me a lot of help, but now it is a bit complicated for me to pay it. I also need money for other things because I have already reached the age of over 60, but anyway, I decided to continue to pay the mortgage to get rid of it as soon as possible. I recommend you do the same.

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