Most of us are struggling to get by as it is, and any spare penny we have is saved for a rainy day or spent on afterschool activities.
This can often mean that starting a pension is at the very end of a long list of things to pay for.
However, it is important that you do start your own pension and the following four reasons should convince you:
1. It's tough surviving on the State pension alone
If you are used to a certain lifestyle you might struggle to enjoy retirement if you don’t have enough money put by and have to rely on the State pension.
2. The earlier you start, the better
Obviously, the earlier you start your pension, the more you will have in it when you do finally stop working. However, whether you are 20, 30, 40 or even 50 it is never too late to start one – you’ll just have to pay more into it the later you leave it.
3. We’re all living longer
We’re all living longer on average so it is important you have enough set aside to keep you going. No one wants to end up working forever, so make sure you have enough set aside.
4. It means you can retire whenever you want (within reason of course!)
Depending on your pension plan, the more you contribute into your fund, the earlier you can retire.
SHARE if you've yet to start your own little retirement fund!
