Have you thought about where your regular income will
come from after you retire? Even though your regular expenses may
decrease (things like mortgage payments, for example), you’d probably
like to have some regular money coming in, to help you make the most
of those ‘golden years’. It’s important to have money coming in that
you can rely on.
That’s why it’s a good idea to invest in a
pension and start a retirement fund as soon as possible. The
Government encourages us to do this by making pension savings
tax-efficient. This means that, for every bit of money you put in,
you’ll receive an amount from the Government on top, up to an annual
limit.
There are several types of pensions on the
market and you’ll need to decide how and where your money is invested.
Start saving as soon as possible though, because any delay could have a
huge impact on the value of your pension pot at retirement. It’s a good
idea to get some advice on how to best manage your pension plans from an
expert financial adviser.