Pauliwalnuts
Registered User
- Messages
- 53
Hi all,
First post so be gentle. Long time user of this great site.
I have recently been contemplating whether to pay more into my pension or not. I am 32 years old & earn 55k per annum.
I have been in my companies pension scheme since I was 21.
I pay 4% into it while the company pays 6% so thats 10% of my salary in total.
I allready have a house & savings of 17k in Rabo, 5k Halifax Regular saver & 13k worth of Shares in my company.
I figure that I should probably be putting more into my pension since it is very tax efficient. I realise that contributing say an extra 200 per month will only really cost me 104 euro which I would hardly notice.
I have no idea though if that is enough to be paying or not.
Typically how much should someone my age be contributing towards my pension ??
The thing I suppose that I don't like about pensions is the fact that my money will be locked in for another 33 years before I can touch it.
I am going to start a Quinn Life Equity fund as well & will start by selling 1270 worth of the existing company shares that I have while making a regular monthly contribution of 300 per month.
The thing I suppose that I am contemplating is whether to just leave my pension as is & actually put even more towards the Quinn life fund or does my strategy of contributing an extra 200 pm month into the pension sound like a good idea along with my Quinn life fund.
First post so be gentle. Long time user of this great site.
I have recently been contemplating whether to pay more into my pension or not. I am 32 years old & earn 55k per annum.
I have been in my companies pension scheme since I was 21.
I pay 4% into it while the company pays 6% so thats 10% of my salary in total.
I allready have a house & savings of 17k in Rabo, 5k Halifax Regular saver & 13k worth of Shares in my company.
I figure that I should probably be putting more into my pension since it is very tax efficient. I realise that contributing say an extra 200 per month will only really cost me 104 euro which I would hardly notice.
I have no idea though if that is enough to be paying or not.
Typically how much should someone my age be contributing towards my pension ??
The thing I suppose that I don't like about pensions is the fact that my money will be locked in for another 33 years before I can touch it.
I am going to start a Quinn Life Equity fund as well & will start by selling 1270 worth of the existing company shares that I have while making a regular monthly contribution of 300 per month.
The thing I suppose that I am contemplating is whether to just leave my pension as is & actually put even more towards the Quinn life fund or does my strategy of contributing an extra 200 pm month into the pension sound like a good idea along with my Quinn life fund.