When is the right time to start saving?

Why it pays to save
You may find that the current state pension will not be enough for you to maintain and live a comfortable standard of life after retirement.

Therefore, it’s a good idea to begin building your own personal pension pot throughout your working life – putting away just a small amount of money each day can add up to a generous sum of money over time.

What is the right time to start saving?
There is no real right-time to start saving and as a result, you’re never too late – however, it is considered best to begin saving once you start earning.

This will give you a better chance to accumulate more money in your pension pot, whilst if you start later in life, you may find it harder and find yourself playing catch-up.

How do I start saving for retirement?
Once you have decided to start saving for your retirement there are two main options available, contributing to a pension or opening an ISA.

It is highly recommended that you consult an financial advisor before making your final decision – our expert advisors are here to help and offer a free no obligation consultation.

Pensions
Pensions are the most popular choice. This is your best option to secure funds for your retirement as once you begin contributing to the pension pot you won’t be able to access the money until you reach the age of 55.

ISA
ISA’s offer a more flexible way for you to put together a retirement pot as depending on the type of ISA you choose, you may be able to access the money before you retire.

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