Why do financial advisors always use low rates for returns on savings accounts & high rates on stock market based pension funds? This article assumes annual return of 5% after charges on pension fund and Cash ISA return of 2%.
What pension provision have you made? Here I discuss the two big problems with pension provisions I see and offer some points for consideration.
If you're self employed it's harder to build up a decent pension. No access to a final salary scheme, no employer contributions and irregular income making it hard to commit to a set payment into a pension.
I agree that it's going to get harder to retire between the demise of the final salary pension scheme, an increase in the state pension age and the uncertainty of the value of a stock market based personal pension,
What a load of rubbish, personal pensions aren't simple. The issue is that charges eat into the value of your pension pot and there is absolutely no guarantee of the pension you'll receive, it depends on the value of your pension pot.
Is retiring abroad all it's cracked out to be? I'm not sure. I think for Brits more sunshine is a big draw. But 40 degrees in Summer doesn't sound llike much fun to me. Then there are currency fluctuation issues which can affect your pension income.