Penshion Scheme for 21 Year old

atush

dunstonh wrote: »

I know we wish that was true but schemes with employer contributions (i.e. free money) often have less than half the staff sign up for them). How people cannot see the benefit of free money fails me.

I completely agree and we do here try to educate people about it. But then you get people like Happy advising they 'throw' that money away. Beggars belief really.

I did advise to save outsied pension as well for things like Happy suggests- which are important too.

gadgetmind

dunstonh wrote: »

I know we wish that was true but schemes with employer contributions (i.e. free money) often have less than half the staff sign up for them). How people cannot see the benefit of free money fails me.

Someone at work who's been with us for years is always finding good reasons why she can't join the scheme just yet. We've had, "I'm saving for a new bike", "I'm saving for a nice holiday", and many more.

She's now in her mid-40s. Tick, tock, tick, tock ...

gadgetmind

babydudeph wrote: »

I shall have a look at Fidelity as well.

Fidelity are good, so are Bestinvest and Hargreaves Lansdown. Which is best depends on what assets you want to hold. I'm increasingly a fan of low-cost trackers such as the Vanguard LifeStrategy series, which are cheap to hold on HL.

An IFA would be able to put together something with Blackrock trackers etc., which should also be cost-effective.

Luckily my employers don't require me to contribute anything into the pension scheme, but it seems silly not to as I have a bit of savings put away already for a flat deposit within 2-3 years.

Absolutely. Knowing what I know now, I'd be tempted to dig deep to start with. Despite all the doom and gloom (in fact, because of it!) now is a great time to be investing.