Should I lower pension contribution?
Hello. I’m 31 earning 113 in cash and about 40 in stock per year depending on stock performance. I do expect a promotion this year which may take me to 170 or higher total.
I’m considering whether I should lower my pension contribution and save money outside of ISA. Currently I have no savings outside of isa.
Current financials:
- pension 125k ish and contributing 20% of base this includes my employers contribution
- stocks isa 110k
- cash isa 40k - this is kinda my free cash emergency fund
- liability: mortgage with 500k (slightly less) remaining on it with mortgage payment 2.6k of which I pay half
I’m considering if it’s worth it to lower pension contribution to consider if I could retire earlier in the future
I currently don’t have kids but likely will.
Other than the 20 percent a year in the pension which is about 22k and 20k a year in the ISA im basically paycheck to paycheck otherwise
I do realise I’m spending a bit too much but life is also for living!
Advice welcome. Should I leave it as is, change pension or something else?