Finance and Loans
It is really important that everyone thinks about how they will manage in their retirement. Once we give up work, we will find it very difficult to be able to borrow money, particularly large sums and so we need to make sure that we not only a regular income but also the ability to save up for items or a pot of money that we can dip into. It can be daunting to think about how long we might need this money for and how we can afford to put anything away when we have other expenses to think about.
Many people will just think about a pension when they think of retirement. A pension is an investment which you would normally pay into monthly when you get paid. If you have a work pension then the employer might pay in some money as well. The money goes out before you get paid so you do not notice that it is missing and so it can be a good way to put money away. Some people do not start a pension though, perhaps because they have never worked or because they would rather have the money to spend. It is wor