Best way to save for a career break?

butterfly72

Having another 17 years to retirement I'm considering a career break. Probably 3 months, although I have read 6 months is the minimum in the NHS? I'll have to find out.

I'm here for ideas on how to fund/save for it. I was thinking of taking the break in 8 years time when I'm 55 but am flexible on this.

I know that funds are for the long term so I guess that rules them out? Another option is a series of Regular savers, fixed term savers? I'm just not sure! I can put away £50 - £100 per month.

I only work 22.5hrs and manage on my current wage nicely so actually don't need shed loads for the basics. However, I want to do stuff on my break, trips, courses etc so will need a little more.

I appreciate, my circumstances could well change between now and then but I like to plan ahead! Any suggestions much appreciated.

Trentenders

Increase contributions to a pension and then take 25% tax free when you are able?

butterfly72

Trentenders wrote: »

Increase contributions to a pension and then take 25% tax free when you are able?

Thanks for your reply.

I'm only in the NHS pension which is payable at 65 (then state 67).

Would it work if I started contributing to a private pension? Then take the 25% from that...would I still be able to keep contributing to the NHS one as normal?