Starting a pension at 40 | Is it too late?

Описание: In a nutshell: starting a pension at 40

Learn more: https://www.nutsaboutmoney.com/pensio...

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PensionBee (expert managed. Get £50 added to your pension):
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Beach (expert managed):
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Full range:
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Okay, let me make this very clear, it’s never too late to start a pension. Pensions have lots of benefits that you can’t get anywhere else, and adding cash in your 40s, 50s and 60s will have a huge impact.

40 is still very young when it comes to retirement saving, and life in general, so there’s no need to panic just yet. But don’t delay, starting a pension and regularly contributing as much as you can in the next few years can really put you on the path to a comfortable retirement.

The main difference between being 40 vs being younger is that you’ll need to save more each month in order to have the same size pension pot at retirement.

Use our pension calculator to find out how much you’ll likely need in your pension pot and how much to save each month:
https://www.nutsaboutmoney.com/pensio...

Sorry to be the bearer of bad news but even if you have a pension from work, you're probably not saving enough overall. A good option is to open a personal pension alongside it, and save into it regularly.

You’ll still be able to save tax-free which has a massive impact over time, and have a much wider range of pension providers to choose from, potentially benefiting from things like lower fees, better customer service and your pension growing larger.