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help
twist
Posts: 3 Newbie
Hi all im in my early 20's and thinking about getting a pension
i know nothing about them apart from the fact i need one and dont have a clue where to start. Any help would be appreciated.
cheers
i know nothing about them apart from the fact i need one and dont have a clue where to start. Any help would be appreciated.cheers
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Comments
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i know nothing about them apart from the fact i need one
What makes you think you need one?
What you need is to invest for your retirement. A pension is one option but there are other options as well. As with any investment, it should be set to your risk profile and an amount put aside that is within your budget but also going to be worthwhile in the future.
The simple option if you want to go DIY is a stakeholder pension. It wont be the best option but it is designed to be the simple option. Going DIY means you pick the provider, the funds, the amount etc. If you want to get advice then it means dealing with an adviser. If you really dont have a clue then you should seek the advice of an IFA.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
If you are a basic rate taxpayer with no company pension scheme, then you would be best to save in your investment ISA than in an inflexible pension.
You can invest either 4k (mini) or 7k (maxi) a year.
Have a look around this site for some ideas:
https://www.h-l.co.ukTrying to keep it simple...
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