You may be right Pud, I used to work in Pensions (a good while ago) and at that time paying AVCs were akin to pouring your money right down the stank
I knew twins who I spoke to when they retired. One had been the ''safe'' one worked paid into pension pot and did all thethings he was supposed to. Other one didnt give a shoite, no pension bought a care when he felt like it etc On retirement both pretty much in the same boat and the one who was ''safe'' had the tears in his eyes and the feeling he hadnt lived, always thinking his brother was the idiot for not having the nest egg but realising his brother had lived it right Also one of the lasses who worked in the parks side of things got cancer at 40 ish and died, before she died her regrets had been about saving for retirement rather than living life to the full. sad thing was she used some of her holiday entitlements to get treatment/hospital visits
please log in to view this image How many arse-holes has Kirk Douglas got? Three: his actual arse-hole, his chin and his son.
I don't agree really, if you live hand to mouth then you have no chance of building up your own capital which will work for you, even in the short term - the likes of owning a property and leasing it to someone pays immediate and long term returns without much further labour from yourself. If you don't build up a nest egg you will be forever living off your own labour, and then when you can't work any longer you'll be living meagerly off the labour of others in the state anyway.
big difference IMO between nest eggs and pensions TBH For example you got 2 kids right? say you pay a £100 into a pension pot, yes you may live long enough to see that or you could put £50 aside each for them. I never understood people who pay into pensions etc but cant afford a decent holiday etc. I would hate to be dying a day before my 65th or whatever the retirement age will be thinking I never had me a decent car or whatever. Maybe its personal experience, I remember when I took redundancy for when my lad was born. I was paying tax that people don't get in wages. Yet there was very little financial help available and it was a case of ''use your savings'' and I was only entitled to what my insurance contributions allowed etc yet there are those who haven't worked a day in their lives and get allsorts. Any pension etc went to pot and it was a learning curve I can tell you I know old people get put into homes, those who had property get to give it up to pay for it, those that don't get it anyway.
