Pension Attitude Live for Today with One Eye on Tomorrow

Published / Last Updated on 24/09/2020

Change Our Attitudes – Pension Are ‘Long Term Savings’

If you are in your 20s or 30s, pensions and retirement seem such a long way off.  You have immediate concerns like saving for a deposit, mortgages, rent, car finance, family.  Pension is the last thing on your mind.

If you/employer are paying in just the minimums into work place pension then you pay 4% net, 5% gross and employer 3%.  Say £15,000 earnings lower threshold = £6,240 = the means just £8760 threshold earnings X 5% = £36.50pm you and £21.90 employer = £58.40pm

It is time to change your attitude towards savings.

We suggest you ALWAYS break the amount down that you can afford to save into 3 areas. 

  • Short term saving – savings that you are going to use in the next 5 years
  • Medium term savings – savings that you are going to use in 5-10 years from now
  • Long term savings – savings that you are going to need in 10, 20 or 30 years.


If you are in your 20s and paying £400pm car insurance and £200pm car finance and not saving a penny – you need to revaluate your position.  Drive an older car with 3rd party insurance cover only and save for a rainy day.

The importance of changing attitude to your savings is paramount.

“Live for today with one eye on tomorrow”.

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