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Brits over 40 wish they’d saved more

We might live in the here and now when we’re young, but mistakes over savings and pensions can lead to financial regrets once we hit 40 years old.

A survey of the UK’s 40 to 70 year olds by insurers Partnership revealed a third wished they’d saved more in their earlier years, while a quarter felt they hadn’t saved enough into their pension.

Whatever age you are, it’s never too late to start thinking about saving for your future – though the earlier the better. We’ve three ways to get you going, and a handy calculator to help you get to grips with your pension.

Find out what you can afford

It’s hard to know what you can afford to save if you don’t have an accurate budget. Once you’ve recorded everything you spend each month and everything you earn, you’ll be able to see how much money you have left. If you don’t have much disposable income, you can use your budget to find ways to cut back.

Get into a regular habit

Choose a fixed day each month to put money into savings. Payday is great as you won’t be tempted to spend the cash. You can also set up a standing order to automatically move money into a savings account each month so you won’t forget to do it.

Earn as much interest as you can

There are different places you can put your savings, from tax-free ISAs to high-interest current accounts. Wherever you choose, keep an eye on the interest rate. Many have bonus rates for the first year and drop down afterwards. If that happens, look to move your money elsewhere.

Work out your retirement income

It’s all very well putting a certain amount into your pension each month, but it’s hard to know if it’s enough. In a few easy steps, our pension calculator can give you an estimate of the income you'll get when you retire.


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  • Mrs A hills / 17 May 2015

    Being married and staying at home you get screwed because you can't have a pension and when you finally get into a job it had to be one on low pay and one that would let you take all the school holidays off not even £3.80 an hour. Then when the children are old enough you get cancer so you can only manage a three day week paid into a pension and will only get £2000 a year. And if husband dies first can only have half of his pension so don't have kids and don't stay home with them.