I didn't worry about pensions when I was younger but have always saved and not blown all my money. I have focused on moving up the housing ladder and getting the mortgage paid off asap. However in recent years it makes less sense so have maxed what house we could buy to have a max max max mortgage while interest rates are low. Hopefully the property will increase by more than any old property we would have been if we hadn't pulled our fingers out of our ar5es.
I have a couple of old company pensions sitting static, a various small bits of money in premium bonds, cash ISA's, investment ISA's, some shares, some cash and a few cars. All in all it won't add up to enough to support us.
The next 5 years are key as I semi retire at 50! Need to build/sell some houses. Maybe even sell a business or 3 would be a bonus.
I am not planning for the govt to support me/us for even 1p when the time comes. They have done jack sh1t all through my life to date and I only see it getting worse. In the main the country is run by idiots who couldn't run a p1ss up in a brewery. Why could they successfully invest and make a sound return for a decent pension. Exactly, they can't. It will all be ripped out of the system by corruption and all sorts.
I have never relied on the govt ever for anything for the last 45 years. The next 45 even less so and will be no different.
To me pensions per se are a flawed and archaic concept. The idea should be the same but don't in any way that works. By gold....buy cars...property. I don't have all the answers by any stretch. I just don't trust the govt or anyone in the finance sector. I know enough people in finance who earn a fortune for not really doing much in terms of intrinsic or useful value to society. With all that money coming out of your pension pots, management fees and cr4p returns even though they have actually made a fortune using your money as cheap finance to me that is why it is flawed.
I wish I had kept all my old flats and rented them or bought commercial property but I just wasn't brought up with that mindset and worked it out a little late for myself.
It makes me laugh that the govt publish papers that tell us...the people....to eat this....don't eat that...do this....have a compulsory pension system when they have no clue what they are doing.
The new pension system is a pathetic attempt to right many years of wrongs. It doesn't do enough or quick enough and will just be an excuse to reduce govt pension burdens and payouts in the future.
It is another stealth tax and another example that through idiots that have no clue what they are doing and chronic inefficiency that you'lI lose out again. The gravy trains carries on for many who benefit from it however at the expense of the uneducated. Very sad and very poor.
