Your occasional reminder that we're all doomed

There’s absolutely no way i’ll have £260k left by the time i’m 50. No chance whatsoever.

ahm fooked

the earth’s going to be a fiery inferno by the time we all reach retirement age anyway, wouldn’t worry about it m9

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Glad I like my job cos I’m honestly thinking I’ll never retire

Worryingly, younger workers who fail to buy their own home and face a lifetime of renting will have to save far more. Royal London said it expected that around one in three retirees would eventually be renting, and would typically need to find £6,554 a year to pay private landlords. This additional costs means they will have to accumulate £445,000 to fund their retirement.

sick

reckon learning some post-brexit/apocalypse agricultural or survival skills would be more handy than sitting on piles of cash in the meantime too

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They are going to need to open up some more B&Qs

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I’m not worried. I’ve got it all figured out.

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image

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Wait, is that 260k as a lump sum from a pension?

That’s a lot

Don’t really understand pensions, but think I started contributing to mine last month, £20 in the pot. That’ll probably only pay for a packet of Wethers Originals when I’m 80.

Mortgage overpayment will net you an asset that’s relatively stable but likely has a conceivable value ceiling. you must then release equity or move to realise it.

Savings is susceptible to changes in interest rates, obviously. Currently these are historically low without a prospect of changing any time soon. Returns on stock markets and other assets have consistently beaten returns on savings accounts. I would suggest this isn’t an appropriate way to save for retirement.

Pensions are what you make them. I am privileged enough to be able to put a decent sum away each month. My risk profile is massively risky as I am quite a distance from pensionable age. You may choose a different risk profile. There’s always a risk that pension providers will collapse and you will lose everything, however.

Gonna stick all my money in premium bonds and hope for the best.

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Your bank will offer you savings accounts where a portion is used to speculate on the equity markets.

Alternatively, you could deposit a sum with an asset manager, who will invest it. There’s a few things to be weary of here.

Your fund value will go up and down. You might want to alter your risk appetite according to personal circumstances. The management fees can be high. You often need to make a minimum deposit, which is thousands of pounds. Funds are liable to chase money and could invest in unethical sectors and businesses.

Or you could put money into a pension provider like Royal London or Aviva, whom will invest in these funds on your behalf. This is what I do.

Seems like a good idea.

Or split your contributions with some else to diversify risk etc.