Retire? Not before I die!
Aug 13th, 2007 by Jason
I have just listened to a pension presentation regarding my employers stakeholder pension scheme. This has drawn may attention to the fact that, like many 30-somethings today, I do not have a pension. I also do not own a property, nor can I currently afford to buy one.
The average property price for a semi-detached house in Exeter is, according to the land registry, £210,000 and the South West has the highest disparity, in the country, between wages and house prices.
Looks like a good time to learn some bushcraft because at this rate I’ll soon be living in the woods, eating berries and wild mushrooms.
I recently set up a personal pension through my independent financial advisor. He took me through my options and I remember him saying that unless your employer is also contributing, stakeholder pensions are generally the worst option.
This is because although they have low charges, the choice of funds is severely restricted and their performance is usually pretty dire.
I would say before you go off and sign up with HSBC, get an Independent advisor round (I can recommend mine) and have a chat about your options.
Just had another thought…. if you’ve just got cash now and again to invest, Smile have got a few alternatives for ethical investments.