Planning for the big 'R'
Fri, 21/12/2007 - 10:18
Hi Chris,
I suggest you stop wasting your money on Spurs, and check out your company pension scheme :-)
Tue, 01/01/2008 - 17:43
If your employer doesn't provide a good pension scheme and put a decent bit of cash in it for you, look what other employers might offer you and either move job or use the difference to start negotiations with your employer.
40 years before retirement is an ideal time to address the issue as you have time to ride the ups & downs of the stock markets and sell on a high some years before retirement to avoid any late downturn. Put away more than your calculations indicate at first and you have less risk of coming unstuck at the last minute as by then you can have stashed the cash somewhere safer.
Scottish Widows have a calculator on their website for how much a month starting at different ages, it is a clear demonstration of the need to start early.
Wed, 27/02/2008 - 13:22
It's also worth looking at equity ISAs as well as your pension - these are not tied in until whatever pension age the then government of the day chooses and you can take all your money at the end without being forced into buying a poor value annuity - plus it's tax free and you can leave whatever you've got left for the next generation.
Thu, 28/02/2008 - 16:00
I've been exploring (not like Edmund Hillary, more from my armchair) the gammut of ISAs and am thinking of going for one of the Northern Rock offerings.
I'm reasonably sure these are a safe option despite the furore surrounding it, any doubts?
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I don't know if it's the cold affecting my brain (such as it is), but I've started to think about what I'm going to do when I retire.
Now, it's not for another 40-odd years, but I'm going to need a decent nest-egg to pay for my fruitless trips to the Lane! (Watching Spurs probably isn't worthy of inclusion in 'Retire in style', in all honesty)
So, any recommendations as to where I should start planning for a decent retirement?