Big loss to annual pension

stellaB85

Kim1965 said:

Stella, you are in it for the long haul, how old are you?? 

Kim, I am 35

Kim1965

Ok, so you are in it for the next22 yrs minimum. Embrace this dip, if you can put more in and buy while prices are low.
 Now if you were my age (57) and wanting to retire sooner than later, it would be more if an issue. Its not the end of the world for me (i shall wor longer), its certainly an opportunity for you. 

Albermarle

Ok, so you are in it for the next22 yrs minimum. Embrace this dip, if you can put more in and buy while prices are low.

I agree with this. Pulling out when investments are down is the number one bad decision.

newatc

I wonder how many young people are looking at their pension statements and saying why am I bothering. 

Stella you are young and this will be seen as a little blip in 25 years time (hopefully :-) )

bostonerimus

stellaB85 said:

Kim1965 said:

Stella, you are in it for the long haul, how old are you?? 

Kim, I am 35

Stella you mention your contribution in your original post. FYI these are far too low to support a comfortable retirement. You should be contributing at least 10% of your gross salary - 15% to 20% would be better. I know that it's difficult today to find that money with the issues around the cost of living and wages right now, but maybe do a budget to see where you can find some savings to add to your pension contributions. But before you do that understand exactly how your money is being invested.

SouthCoastBoy

newatc said:

I wonder how many young people are looking at their pension statements and saying why am I bothering. 

Stella you are young and this will be seen as a little blip in 25 years time (hopefully :-) )

I think many would, I know I would have. The vast amount needed will seem so far away. That's one of the many negatives about dc pensions. Whereas with a db you are building up a tangible salary for retirement. Wouldn't be surprised if many give up on their dc pensions, it's a big enough challenge to buy a house let alone building a decent pot for pension alongside it plus the paying back the graduate loan. Are thresholds for loan repayments  matching inflation increases?