Where should I put my money?

Binbash

Hi guys, first post here - hopefully the first of many.

I'm 21 & currently work for an international company in the IT industry; on a telecommute basis. I bring in just over £2,000/month after taxes and seeking advice on where to save my money.

Unfortunately, only US employees are entitled to the 401k plan (US equivalent of a pension scheme - please correct me if I'm wrong). At the moment I can quite comfortably put away £1,000/month into my savings account but I'm also looking to setup a pension; my company cannot assist with this and see a lot of financial jargon I'm not used to; I'm wondering on what sort of pensions I should be looking at.

I'm open to any ideas & suggestions and appreciate any responses beforehand.

dunstonh

I'm wondering on what sort of pensions I should be looking at.

Ones that fit your objectives and investment requirements. There is no one best pension. Each has its target markets and different features, options and investments may appeal to different people.

its great at 21 that you are looking at this as these are the best pension years of your life. What you pay now can set you up big time. Leaving it to just 27 (and starting with the same amount) can nearly halve your final fund value. So, do it now and you will never regret it.

However, realistically, no-one can tell you what is best for you based on what you have written. You either need to use a local IFA to give you advice or decide to do your own research to see if its something you are willing to do yourself. Avoid any banks and supermarket type products and dont buy direct from insurers as you neither get best price or the best product.

Loughton_Monkey

Ask around for a good IFA.

Or try

http://www.unbiased.co.uk/?gclid=CLeKksG0iqcCFcse4QoduSwXdg