Quote:
Originally Posted by gIzzE
It is crazy how much many of us spend on cars.
As I get closer to 50 than 40 I have started to think about it a bit more, I'm 46 now.
I had to pull out of my pension scheme in 2010, financially couldn't afford it.
I have just got a quote to start again, retiring at 67, I now need to pay in £2600 a month with work contributing £4000 a year to have £34k a year pension.
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That does sound a bit crazy - between you and your work, you will be contributing £35,200 a year for 21 years, in order to receive £34,000 a year for around the same term - approx 21 years.
You generally expect investments to generate a return some way above inflation, but this seems to be just about keeping pace with inflation.