What kind of retirement do you want?
1 June 2007
Next, take a long hard look at the kind of retirement you want and the kind of retirement you think you will be able to afford.
It’s all about striking a balance. For happiness is the balance between circumstance and expectation.
Taking the above example, can you afford to save £100 a month, come what may?
Realistically, you may not be able to aim too high, at least to begin with. Through the mid years of our lives, we all tend to take on debt. For most of us there’s a family to raise and the mortgage to pay.
Nonetheless, it’s important to make a start on saving as early as you can. Even if it does make life a little bit more difficult for a few years, it will pay dividends.
As the years roll by life becomes a little easier for most of us financially speaking, and that’s the time you should seriously consider topping up your pension savings. The main thing is to set yourself a clear target and stick to it.
