Annabelle Williams

For many people in their twenties, thirties and forties paying into a pension is maybe the last thing on their minds. Younger people tend to have competing demands on their money such as monthly student loan repayments, paying for master’s degrees or professional qualifications, saving for a first home and furnishing it, getting married and having children. It’s no wonder that paying into a pension gets pushed to the bottom of the priority list. 

Netflix, avocado, coffee and brunch – we’ve all heard the clichés blaming Generation Rent’s struggles on their spending habits. Over the years a range of influential voices have come out and declared they’ve found the secret to reversing the decline in home ownership among the young, which has fallen continually over the past 30 years.[1]

The state pension is a valuable source of income for many people in retirement. Throughout your working life it’s important to keep abreast of whether you’ll be eligible and how much you might receive, but it’s not always easy. 

Everyone needs a retirement pot so they can stop working one day. But pensions can be confusing, so here are the simple answers to the top six most-Googled questions about your retirement.

Stock markets have been turbulent since the start of the year and there are signs that a bear market might be coming – this is a sustained period of decline in a market which falls 20% or more from its peak. 

Saving and investing used to be for scrooges and squares, but they’ve become pastimes for millions of people who know that being financially savvy is far from geeky – it’s the way to fund their best life. Strategising, maximising and squirrelling away more of their income has become a lifestyle for legions of younger Brits, helped along by online communities who share tips on having ‘no-spend’ days or weeks, growing their wealth through investment and potentially reaching complete financial freedom. 

The Lifetime ISA, or LISA, is a government scheme for the younger generation that offers up to £33,000 in cash bonuses for money intended for two big financial goals – buying a first home and retirement.

The pandemic has brought the importance of being financially prepared into the spotlight. Coupled with concerns around climate change, growing numbers of adults have been investing in socially responsible investments for their child’s future.

Saving for retirement is vital but over decades of working people often amass a number of different pensions – and sometimes lose track of what they have invested and where.

Thinking of overpaying your mortgage or starting to invest? These are the five questions you should ask yourself.