UKC

So, at last I have got my Texas Teachers Pension through from a couple of years teaching over there. What to do with it ?

Ok I could be smart and pay it into my pension fund, or take 6 months off my mortgage. Or I could blow it on a trip, currently thinking of a mountain biking safari in Africa over Christmas. Or some other combination ?

Sensible or trip ideas please, it is about £3k and I am limited to school holidays for dates.

Dreaming.....

In reply to sarahjk:

How much do you estimate you'll save in interest if you go the mortgage route?

I'd probably opt for a trip!

In reply to needvert:
If you had a mortgage at 5% with 15 years left to go, then you would save £3237 (in interest, not including the initial £3000 that you had paid off) by paying off £3000 now.

Of course, in 15 years time, £3237 might seem like a trivial amount...

In reply to sarahjk:

If you have plenty of years ahead of work and no kids then spend it on a trip. Plenty time to worry about being sensible later in life.

If you are like me and have kids, credit cards, mortgage then pay off some debt.

In reply to tlm:

Wow, thanks for the calculation tlm, I had no idea it made that much difference. I had a 21 year mortgage 5 years ago, as of today it is a little under 7 as I am overpaying as and when I can, plus a little extra each month [thanks to the lodger !]. Dont need to pay crooked banks any more interest than I absolutely have to !

So I have put a bit on the mortgage this morning, but will also be dreaming up trips for a while till I decide what and where.....

In reply to sarahjk:


Heh - that was the other thing I was going to say - it doesn't have to be all one or the other. You can have a pretty good trip for £1000 and pay the rest towards something 'sensible'.

In reply to sarahjk:

Go here go here...

http://www.muumimaailma.fi/en/home

I would Love to :-D

In reply to sarahjk:

You can't take it with you and you never know what will happen tomorrow.

If this pot of money gives you the opportunity to do something that you are unlikely to able to do again without making serious changes to your life then I would do it.

Live a little and have fun.

(this comes from the guy that had that chance and didn't take it, it's something I think about quite a lot and I suppose I regret)

In reply to Choss:




Unless you are about 8 years old its not that much fun, though the town is very pleasant. I live about 1km from the place.

Save some, spend some.

In reply to Choss:




There's are a few indifferent climbs just round the corner from Muumi island too, although vast numbers of much better ones if you go about 45 minutes NW of there.

You might feel a bit out of place at Muumimaailma if you don't a) have little kids or b) aren't Japanese.

In reply to Dave:


You Live just 1km From moomin house!

You must be the happiest person Alive!

In reply to sarahjk:
Back in the early 90's I had the opportunity to join a 5 week trip to the Himalayas to do trekking and some trekking peaks, but finding the funds was the problem. A savings policy my dad had started for me for a few shilling a week matured - which almost exactly matched the cost of the trip. No hesitation in spending it. Since then I've invested in sharesave schemes where I worked - and the money from that goes into my expedition fund. Never notice it missing from the monthly income, but it comes in handy for all the trips I've done since then.
Definitely spend some of it on the trip!

In reply to Denzil:

Yep, I have a 'fun-d' account too, nice and full now, so many ideas, always enjoy suggestions too !

In reply to sarahjk:

a mountain biking safari in Africa over Christmas. Or some other combination ?

Surely you've answered your own question right there?

In reply to sarahjk:

Theres some great looking rafting holidays down the entire length of the grand canyon for about that sort of money.

What about joining that traveling climbing bus (name escapes me)?

A earthwatch.org expedition (loads of different types and locations) something like: http://eu.earthwatch.org/expeditions/animals-of-malawi-in-the-majete-wildli...

A self planned trip out to the ring of fire, fly to canada, transfer to alaska, flying boat out to a volkcano, camp/explore/photograph/climb volcanoes, get scared of bears in true isolation and self reliance (with a few companions)

In reply to sarahjk:

Holy shit have some fun. I'm 49, worrying about mortgage, investments, etc, but never once regretted money spent on big trips. You'll regret the things you don't do, not those you do do