Do I need a pension?

cadenza82

I am 24 years old, and self-employed. I've never considered having a pension. Should I? I don't have a mortgage and am still living at home. I have quite a lot saved, and getting onto the property ladder is a priority at present. Can a pension wait?

David

dunstonh

I am 24 years old, and self-employed. I've never considered having a pension. Should I?

Look at it another way. You are self employed so you only qualify for the basic state pension. That is £4500 a year. Do you fancy living on that in retirement?

getting onto the property ladder is a priority at present. Can a pension wait?

Everything is a priority and everything is an excuse to put it off. Buying a house, doing house up, getting married, having children and then you are in your 50s and realise you have about 15 years to save up £250,000 just to keep yourself earning about £15k a year.