My Pension History

CityOwl

Thank you all for posting your pension histories. I have always been curious as to how people have gotten to where they are whatever the size of their pension pot, and the thinking (or lack of) behind it.

tacpot12 wrote: »

I think your experience is a lesson to all; it's never too late to learn, and to do something about your pension. There is a lot of help available to people willing to ask for it.

LHW99 wrote: »

...I think at least part of the problem back in those days was that however interested you were/are, it is only since the expansion of the internet that "ordinary people" have relatively easy access to information on pension types, and possbile investments.

The information, thoughts and experiences on this forum have certainly been an education and changed how I view retirement.

jonnygee2 wrote: »

As a 35 year old I do wonder what will happen to my generation on retirement. I think like you a lot of people don't know much about it at this age.

crv1963 wrote: »

I'd like to thank everyone for their tales and the lessons I and my sons have learnt.

Herbalus wrote: »

Who knows where this will end up...All I can focus on is putting what I can into pension as early as I can.

My eldest started his first full-time job after university a couple of years ago. No amount of gentle encouragement made any difference to how much (little) he was prepared to put into his pension. A bit of motherly "persuasion" meanwhile meant he eventually paid in the minimum plus a couple of percent extra to get the maximum contribution from his employer.

The problem is that retirement can seem a long way off when you are in your early twenties and there are far more interesting ways to spend your money. I hope that the little paid into his pension now will have enough time to grow into an adequate amount, only time will tell...

kidmugsy

Workerbee999 wrote: »

We are 48 now and although we have planned and saved hard over the past few years it is the earlier years when we were completely oblivious that have made all the difference to our retirement dream.

Good for you. Be sure to enjoy the time early in your retirement - ill health can strike out of the blue and then constrain what you are capable of.

crv1963

kidmugsy wrote: »

Good for you. Be sure to enjoy the time early in your retirement - ill health can strike out of the blue and then constrain what you are capable of.

You are right kidmugsy! It was actually ill-health that led us (me really, Mrs CRV is still sleep walking, tolerates my talking about pensions rather than engaging in the discussion!) to change from a nebulous "I can retire at 55" to spending time here initially learning about the types and costs of pensions and retirement planning.

We (I) now have a plan, which means having got our "number" we are working towards and although I could retire now we wouldn't have our number so my plan is to try to go before I'm 60. Later than originally intended but with the means to both retire and have our number.

Travel and leisure are key aspects of our planning, mind you vet bills do keep throwing rather large spanners into the works!