Purple Fox Financial Planning Ltd

03/09/2026

Should you pay off your mortgage before you retire?

For lots of people, being mortgage-free is an important part of the retirement plan.

And it's easy to understand why. If your salary is about to stop, getting rid of one of your biggest monthly outgoings can feel very reassuring.

But paying off the mortgage isn't automatically the best option in every situation.

Suppose you had £100,000 left on your mortgage and £100,000 in savings and investments.

Would you rather retire with no mortgage but very little of that capital left - or keep the mortgage and retain £100,000 of accessible money?

The answer depends on much more than the mortgage interest rate.

Where would the repayment money come from?
How much cash would you have left?
Are you planning to move or downsize?
What other pensions and investments do you have?
And how comfortable are you with carrying debt once your salary stops?

For some people, becoming mortgage-free provides enormous peace of mind. For others, keeping access to capital is more valuable.

That's why I think the better question isn't simply:

“Can I afford to pay off my mortgage?”

It's:

“What happens to the rest of my retirement plan if I do?”

If you're approaching retirement and would like to reflect on your plans, my free Retirement Planning Scorecard takes less than five minutes. It looks at four key areas of retirement planning and provides a personalised score with practical points to think about. It does not provide a recommendation or personalised financial advice.

Take the Retirement Planning Scorecard:

https://purplefoxfp.scoreapp.com/

This post is for information purposes and does not constitute financial advice, which should be based on your individual circumstances.

Your home may be repossessed if you do not keep up repayments on your mortgage. Think carefully before securing debts against your home.

The value of pensions and any income from them can fall as well as rise. You may not get back the full amount invested.

The value of investments and any income from them can fall as well as rise. You may not get back the full amount invested.

Purple Fox Financial Planning Limited is an Appointed Representative of ValidPath Limited which is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 197107. Purple Fox Financial Planning FCA number 1011691. Purple Fox Financial Planning Ltd is registered in England and Wales, Company registration number 15399775. Registered Office 83 Westbury Lane, Bristol, BS9 2PS.

15/07/2025

💬 “I want to retire at 60.”
😳 Cue surprised look from their partner.

You’d be amazed how many couples realise, mid-conversation, that they’ve never actually talked about retirement timing.

That’s why real retirement planning isn’t just about numbers.

It’s about connection, clarity, and building a future that works for both of you.

I’ve written a new blog on how cashflow planning can help couples align their goals and move forward with confidence, together.

📖 Give it a read (and maybe send it to your partner!):

👉

Discover how retirement planning helps couples align goals, reduce stress, and build a shared future with confidence.

08/07/2025

Retirement planning isn’t just about the numbers; it’s about seeing the bigger picture.

One of the most powerful tools I use with clients?

A simple chart that helps them stop guessing and start making confident decisions.

✅ When to slow down
✅ How long will their money last
✅ What’s truly possible, not just "safe"

👀 Ready to see how it works?

👇 Check out the blog here

https://purplefoxfp.com/retirement-planning-with-charts/

📅 And if you’re ready to map out your own plan, you can book a free Retirement Clarity Call here:

https://calendly.com/tom-purplefoxfp/inital-retirement-planning-consultation

Discover how visual financial planning aids cashflow forecasting and pension planning for effective retirement planning.

01/07/2025

What do you want your Tuesdays to feel like… when you no longer have to work?

A long bike ride?
Time with the grandkids?
An early Tee time?
A quiet beach walk with the dogs?

Most retirement plans focus on how much you’ll have.

But a better question is:

👉 How do you want to spend your time?

That’s where real planning starts, not just with numbers, but with how you want life to feel.

(And yes, spreadsheets come later… but only after the good questions.)

If this has you thinking about what your Tuesdays could feel like...
You can book a free Retirement Clarity Call here:

👉 https://calendly.com/tom-purplefoxfp/inital-retirement-planning-consultation

30/06/2025

"We’ll sort it out after the next holiday…"
"When things calm down…"
"Maybe next year…"

Retirement planning is one of those things many people put off, not because it’s unimportant, but because life is busy and the questions feel big.

But waiting comes with a cost, and not just in pounds and pence.

💡 Missed tax allowances
💡 Lost flexibility
💡 Quiet stress that builds over time

In this latest blog, I explore the real cost of doing nothing and why starting early (even imperfectly) can give you more choice, clarity and peace of mind.

👉 Read it here: https://purplefoxfp.com/retirement-planning-cost-of-inaction/

📘 “The Hidden Cost of Doing Nothing: Why Delaying Retirement Planning Could Hurt More Than You Think”

Discover how delaying retirement planning can cost you in taxes and peace of mind. Take the first step towards a secure future today.

20/06/2025

🦊 Ready to take charge of your financial future?

Whether you're just starting to think about retirement or looking to fine-tune your current strategy, this guide breaks down essential retirement planning strategies that can help you retire with confidence.

💡 Learn how to maximise your savings, reduce taxes, and build a plan that fits your life.

👉 Read the full article here: https://purplefoxfp.com/retirement-planning-strategies/

Explore 5 smart retirement planning strategies, from phased retirement to gifting. Clear, practical insights to help you retire with confidence.

13/06/2025

Retirement should be a time of freedom, not fear. Yet one question comes up more than any other when I meet with clients aged 40 to 60: "Can I afford to retire?"

22/04/2025

A bucket list is a brilliant (and hopefully fun!) way to make sure you live life to the fullest. After all, as far as we know, we only get one shot at this!

10/04/2025

Many people focus on investing for the highest possible returns—often encouraged by the financial services industry, as it helps them sell more products. However, true financial planning isn’t just about maximising returns; it’s about ensuring your money supports your lifestyle.