How much do you put in your pension?

[mikedarv]

Interesting thread to read. I've just turned 30 and looking to start my first pension.

Was thinking around £300 p/m but reading through thinking that's a little short! OK to start with though maybe.

Did have a BTL planned but it fell through last minute, too late now for another due to the stamp duty rise.

[stek]

Having a huge pension pot didn't help John Lennon...

[WordIsBond]

Having a huge pension pot didn't help John Lennon...

Yeah, if you are planning to live in NY and get shot by a lunatic, don't bother.

[LondonManc]

Yeah, if you are planning to live in NY and get shot by a lunatic, don't bother.

Any advice for the veggies? Didn't help Linda McCartney much either.

[Mikeoc1962]

My LtdCo puts the £40k in for me; have done for the last three years and plan to continue doing so.

Transferred a couple of old permie pots into my SIPP and its worth about 280k - shame I didn't start earlier as I'm 53.

[garnet]

No pension whatsoever. I don't believe in that.
My retirement plan is: if I am lucky to be contracting until I am 41-42, to get as many property as possible and let them (even with the 3% st.d.). ~£3300/month income from that. Additional £10 000/yr in dividends.
Then move to a nicer island than this rain pissing place.

[northernladuk]

Thanks for that useful input bro.

[Fred Bloggs]

My LtdCo puts the £40k in for me; have done for the last three years and plan to continue doing so.

Transferred a couple of old permie pots into my SIPP and its worth about 280k - shame I didn't start earlier as I'm 53.

Not too shabby, another 4 or 5 years you'll have £0.5 million. That's OK at a 4% annual draw down with pretty low risk.

[ChimpMaster]

Not too shabby, another 4 or 5 years you'll have £0.5 million. That's OK at a 4% annual draw down with pretty low risk.

And this epitomizes why I don't have faith in a traditional (i.e. 'safe' pension)... you put away £500k and then hope that you can get 4% output from it when you're retired. £20k a year, which will just about pay for your gas bill and food from Aldi. Any less than 4% and you're really stuffed.

You've got to be more creative, especially when the government is doing everything in its power to stop you from having a comfortable retirement.

[SueEllen]

And this epitomizes why I don't have faith in a traditional (i.e. 'safe' pension)... you put away £500k and then hope that you can get 4% output from it when you're retired. £20k a year, which will just about pay for your gas bill and food from Aldi. Any less than 4% and you're really stuffed.

You've got to be more creative, especially when the government is doing everything in its power to stop you from having a comfortable retirement.

What an exaggeration.

The state pension just about covers shopping at Aldi and the gas bill. That's because the majority of pensioners don't have the two biggest out goings of working people - mortgage/rent and commuting costs.