Savings or pension

ayupmeduck

I currently have an NHS pension. I am leaving the NHS as my full time employer but will be staying on the bank so paying a small amount into the pension each shift. I will be on a NEST pension at my new employer.

I am looking at investing and wanted opinions.

LISA | S&S ISA | SIPP

colsten

Looking at your signature, you have almost no savings, and potentially some debt.

You should not be contemplating any investments (outside your NEST pension) until you have a sound cash emergency fund (approx 6 months living costs at least) and are debt free (except for mortgage). 

As and when you are in that position, you would need to articulate your plans (e.g. buy property, send kids to Uni, travel round the world, retire early etc etc etc) as well as your attitude to risk to decide what to do with any surplus money.

Albermarle

As above but in the meantime you will already be investing via your Nest pension anyway.

colsten

Albermarle said:

As above but in the meantime you will already be investing via your Nest pension anyway.

Yes, very good point, I wasn't meant to imply that the pension contributions should be stopped, and I have updated my post accordingly.