No retirement at 40

What is the best way to save for retirement when you haven't even started at 40?:money:


  • sweetilemon
    sweetilemon Posts: 2,243
    First Anniversary Combo Breaker
    Bit difficult to comment with no further details like income, assets, what your current future plans and prospects are....
  • TBagpuss
    TBagpuss Posts: 11,198
    First Post First Anniversary Name Dropper
    I'd suggest that you post on the pensions board, and give a litle more detail such as your current income, any other savings or assets, whether you are thinking about whether to opt out of a workplace pension or to start a private pension, and how much you think you could afford to save each month.
    All posts are my personal opinion, not formal advice Always get proper, professional advice (particularly about anything legal!)
  • Ozzuk
    Ozzuk Posts: 1,884
    First Anniversary First Post
    edited 14 March 2016 at 4:18PM
    I've recently opened up a SIPP and am saving regularly into it. I then trade in that SIPP. Risky but I have a good private pension so this is a bonus. The nice thing is if you are a higher rate tax payer then an investment of 10k will only cost you 6k (2k is added to your SIPP, you have to claim the other amount via tax return which comes back to you as cash, initial investment 8k).

    But really you need to do a lot more research for yourself/get proper advice.
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