Up the AVCS?

[David_Dublin]

Hi. Planning a refurb, will need to borrow up to 100k in a year or so to fund the end of the job, assuming we end up going for it. I'm 47, i have a buy out bound that I could access 200k from in 3 years.

Had been planning to save up to 2k per month in the coming year to fund some of the refurbishment, so reduce what I need to borrow.

Now I'm wondering should I just pump this into AVCs, and acess that money effectively tax free via the 25% at 50 years old. Is it a no brainer, or am I missing something?

 

[Zenith63]

It would be great if you could fill in the Money Makeover template, otherwise any advice you get will be based on incomplete info and ultimately won't be that helpful - https://www.askaboutmoney.com/threads/basic-information-required-for-the-money-makeover-forum.61289/

For example we don't know if you have any income, so maybe putting money into AVCs makes zero sense, or maybe you're earning over €100k and AVCs could be a good idea.

 

[David_Dublin]

OK, thanks, will do.