The Martin Lewis Podcast Question Time: At last, I’m debt free - what now? Overpay my mortgage or invest? Do I need pay NI if I want to retire early?
Jan 19, 2026
Listen in as Martin Lewis gives practical advice on whether to save, invest, or overpay your mortgage. Learn about National Insurance and its implications for early retirement. Hear Robert's inspiring story of becoming debt-free and discover the importance of celebrating financial milestones. Uncover tips on managing postgraduate loans and the significance of maintaining a balanced budget. Plus, get a peek into Martin's grooming routine and his surprising hair secrets!
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Prioritise High-Interest Debt And Emergency Cash
- Pay off high-rate credit card debt first and keep a 3–6 month cash emergency fund in savings.
- If mortgage rates are low, prefer investing long-term; overpay mortgage only if its rate exceeds your after-tax savings return.
Invest For The Long Term With Regular Contributions
- Invest money you won't need for more than five years into broad funds rather than single shares.
- Use regular monthly contributions to spread risk via pound-cost averaging.
Use Interest Rates To Guide Overpayments
- Compare mortgage interest versus expected savings returns after tax to decide between overpaying mortgage or saving.
- If spare cash exists, split between emergency fund, children's junior ISA and personal investments.