Investor Views: "My Investments Paid Off My Mortgage"

Private investor Nevin McAnea made strong gains from a portfolio of stocks, funds and ETFs, meaning he could pay off his mortgage early

Emma Simon 15 March, 2017 | 2:22PM

Nevin McAnea started investing when he was made redundant from his job, 25 years ago. “I was a turner by trade. Most of the other guys used the money to buy a car or go on holiday,” he remembers. “We were pretty young at the time, but I decided to invest this payout instead.”

Rather than putting the money in a savings account, he bought a selection of shares. These included holdings in the investment firm Save & Prosper, the Northern Ireland Electricity, Abbey National, now part of Santander, and BT (BT.A).

Most of these companies, aside from BT, have subsequently been subject to buyouts or mergers. But over the period McAnea held these shares he said he saw a decent return on his money. “This redundancy money invested over six or seven years helped us pay off our mortgage early. It has certainly been a huge help financially,” he said.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
BP PLC305.50 GBP0.00
BT Group PLC119.40 GBP0.00
Fundsmith Equity R Acc4.17 GBP2.47
Standard Life Aberdeen PLC233.50 GBP0.00
Tesco PLC232.60 GBP0.00

About Author

Emma Simon

Emma Simon  is a financial journalist, specialising in investment and consumer issues, writing for Morningstar.co.uk

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