I pay weekly into a works pension which is final salary based.

Recently I've been thinking about paying into a private scheme but too many of my friends say that this is quite risky and I would be better hiding the money under my bed.

But I shall give that a miss and maybe open up a seperate savings account.

It's something that I've been giving a lot of thought into.Im 35.

I dont want to be a poor pensioner.

How are you preparing for your retirement

In Holland, if you work for a company, it usually goes automaticly, so i've been paying for years already...you kinda have to.

On the other hand, i never check it, because i'm not that interested in it, which is a bad thing, but i still have at least 30 years to go, i don't know what will happen in 30 years!

10% of my paycheck goes towards my 401K.

No, I don't plan to retire, I plan to work until I die, even if I'm 90.

If I keep still, I might die faster.

I figure that I can still put some money on the side for rainy days,

and if I live simply, then things will work out.

I did use my retirement money to help pay off stuff presently though which has helped tremendously.

I'm not, since I don't really make any money

I plan to die before I hit 65.

sextonseven said:

10% of my paycheck goes towards my 401K.

5% of mine goes in and my company matches that.

muirdo said:

Recently I've been thinking about paying into a private scheme but too many of my friends say that this is quite risky and I would be better hiding the money under my bed.

But I shall give that a miss and maybe open up a seperate savings account.

I'm not sure exactly what you mean by "private scheme" but if you mean making investments of your own into stocks and/or bonds for example, I don't think that's necessarily a bad idea at all. Having your money in a state-run pension fund means that you've made the exact same kinds of investments only that you give all the power and control to the unknown fund managers.

muirdo said:

Yes, but I didn't start early enough and I still don't put enough in there. I'm never going to be able to retire.

Personally I don't do any kind of saving or planning for my future. Thankfully my husband has a good job with a good pension and is also really good at saving. When the kids get to an age where they can move out, we have already decided to down-size our house too. Hopefully everything should work out ok.

But if our marriage ever goes tits-up, i'll be buggered.

Lisa10 said:

But if our marriage ever goes tits-up, i'll be buggered.

Yeah I guess it would be harder to bugger your marriage if it's on its back, so you'd have to take one for the team.

retina said:

Lisa10 said:

But if our marriage ever goes tits-up, i'll be buggered.

Yeah I guess it would be harder to bugger your marriage if it's on its back, so you'd have to take one for the team.

Well i'm all up for that kind of buggery!

Lisa10 said:

retina said:

Yeah I guess it would be harder to bugger your marriage if it's on its back, so you'd have to take one for the team.

Well i'm all up for that kind of buggery!

See, your marriage is saved already. lol

retina said:

Lisa10 said:

Well i'm all up for that kind of buggery!

See, your marriage is saved already. lol

Hoorah for buggery!

CarrieMpls said:

sextonseven said:

10% of my paycheck goes towards my 401K.

5% of mine goes in and my company matches that.

My company used to match up to 5%, but then the economy tanked and now they don't match at all.

Yep, definitely. Maybe not as much as I would like, but I am saving.

My job contributes 8% of my salary. I also have annuities and stocks, but the stocks are very iffy. Since I plan to retire within the next 5 years, I hope I'll have enough to be comfortable. I don't need to be filthy rich, I just want to be able to buy whatever I want and go where ever I want to go. And since I'm a devoted homebody, I won't be spending a whole lot of money travel.

Shyra said:

My job contributes 8% of my salary. I also have annuities and stocks, but the stocks are very iffy. Since I plan to retire within the next 5 years, I hope I'll have enough to be comfortable. I don't need to be filthy rich, I just want to be able to buy whatever I want and go where ever I want to go. And since I'm a devoted homebody, I won't be spending a whole lot of money travel.

So you're aiming for early retirement or will you actually hit that age in the next five years?

Number23 said:

No. I'm not much of a saver. I'm sure I'll wake up soon anyway.

Did we go for a pint?

I can't recall...............

muirdo said:

Tomorrow I get some "abnormal" test results news, so maybe I won't have to!

JustErin said:

Tomorrow I get some "abnormal" test results news, so maybe I won't have to!

I know that feeling.

Hope all is ok.

JustErin said:

CarrieMpls said:

sextonseven said:

10% of my paycheck goes towards my 401K.

5% of mine goes in and my company matches that.

damn, I thought company matches were an urban myth!

NDRU said:

Lisa10 said:

JustErin said:

Tomorrow I get some "abnormal" test results news, so maybe I won't have to!

I know that feeling.

Hope all is ok.

Thanks, I'm actually really freaking out inside, but I'll survive.

Or maybe not!

Number23 said:

JustErin said:

Tomorrow I get some "abnormal" test results news, so maybe I won't have to!

See, you have a sense of humour. [Edited 9/9/10 12:20pm]

Did I miss something with your edit?

JustErin said: