I really need to think about a pension. I'm not far off 24 but haven't really thought much about it; I plan to have saved enough money by the time I've retired to live comfortably, but it's a gamble of course. I'm doing ok so far anyway.
I don't like the ideas of pensions, in that I want all my money in my account now rather than be spoon fed it back by the Government :/.
The government knows people don't like or want to think about pensions .. so they make it very VERY financially sensible to have one.
Basically it's TAX FREE. It's (as a rule) better than the best savings account you could ever hope for with regards to the pure wodja you end up with - as long as you don't want the money out until you are 55..
You may not believe this -- but if you don't deal with it in your 20s, in the 30s it becomes
so much more painful when your IFA is showing you charts of where you would stand if you were bothered to think about it 10 years ago - then asking you for MASSIVE HIGHER CONTRIBUTIONS to try and match your retirement expectations (and I only want 20K a year for me and the missus when I retire
and the IFA is saying 'can you possibly stretch to £1800 a month contributions so at least we've got a hope of reaching what you want? !!!!
The sad thing is, I wouldn't have even missed that £180 a month .. I just chucked it up the wall