What is the best age to think about your pension?

on Jul 29 in Is it my crisis? , Sort it out tagged by Brian Wood

The original idea for writing the book came from looking at the situation for people in their 50’s who were begining to think more actively about planning for retirement – and were also getting concerned about the modest amount of pension that they had built up.

In practice, the content is relevant across a broad spectrum of ages.  If you want to start planning for retirement, you need to be aware of the issues and options for people already retired.  You also need to be aware of some of the choices you will have when you retire and take a pension.  And if you are a long way off retirement, you have a lot of scope to change things later by taking small actions now – but you need to know what those actions might be.  So although the book has been structured around the impact of pensions on different age ranges, most of the content will be valuable in some way to everyone.

As we go through our working lives, we get to hear snippets of information about pensions – for example when we get a new job.  But it’s very difficult to evaluate the decisions we make at these points unless we have a rough idea of the overall context, how this decison now will affect my pension and retirement later on.  We were taught Maths and English at school, but we were not taught about pensions.

The fact is that although there is a huge mountain of detailed information about pensions out there, the mountain is so big that it is very difficult to make sense of.  As a result few of us, at any age, really understand pensions all that well.  Hopefully this book will go some way by providing an understandable routemap for climbing the pensions mountain.

One Comment

  • says:

    Thanks very much for that nicely written blog post.

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