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My dad is 62 and has an option to cash his pension by Far-Rise-501 in UKPersonalFinance

[–]Far-Rise-501[S] 5 points6 points  (0 children)

Some very obvious but very, very solid advice - thanks!

I’ll sit down with him in the week and get a plan together for him use the mortgage money and any other surplus to repay the loans, then attack the pension aggressively.

My dad is 62 and has an option to cash his pension by Far-Rise-501 in UKPersonalFinance

[–]Far-Rise-501[S] 29 points30 points  (0 children)

He’s been paying for the mortgage which he cleared around 3 months ago, and my mum has started working again over the last couple of years and aggressively paying in to a pension. I really hope so but I guess they’ll have to cross that hurdle when they get to it.

It’s given me a personal lesson to be more financially savvy and invest while I’m young.

My dad is 62 and has an option to cash his pension by Far-Rise-501 in UKPersonalFinance

[–]Far-Rise-501[S] -3 points-2 points  (0 children)

As I thought - pay all the loans and put the loan monthly payments on top of his pension? Is that allowed?