How do you see your retirement? More importantly, who's going to pay for it?
Step 4 tackles the big one: saving for retirement. We can't rely on the state pension – we need to be saving too. And most of us aren't doing anything like enough.
The basics
- The EPS pension's important but you shouldn't rely on it for everything State pension
- You'll need to build up long-term savings for financial security in retirement Build up long-term savings
- Work out your savings target Savings target
- Don't put all your eggs in one basket – spread savings across pensions, your home and investments such as shares and bonds Don't put all your eggs in one basket
- The three main types of pension are the pension, EPS pension, company pension and personal pensions
- If you contribute to a company or personal pension, you will almost certainly get tax relief on your contributions; your employer may well make contributions too
- Invest in bonds and shares Invest in bonds and shares
- Your home is an important tax-efficient investment Invest in property
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) will take you to the relevant area within the story or feature article. The whole story: Invest for the future
For financial security in retirement, we need to be saving via pensions, property and investments such as shares and bonds. But don't put all your eggs in one basket.
Feature article: Facing up to the numbers
So what's your scary number? Or, to put it another way, how much are you going to need to save for your retirement?
Read more about facing up to the numbers
Feature article: Save via pensions
If there's one thing everyone's agreed on, it's that pensions are confusing. But they're important too, so prepare to get to grips with them.
Read more about saving via pensions
Feature article: Invest in shares
If you've weighed up your position and the risk, and decided that you want to invest in shares, how do you go about it? Here's a quick outline of a few of your options.
Read more about investing in shares
Tax rules may change in the future.
