Ok this most likely sounds like a really stupid Question but why exactly do I need a private pension?
I mean the government pension seems like enough and by the time im 65 I most likely will have to mortgage or other debts and being 65 wont exactly want to go on nights out and wear designer clothes.
Also I dont like the thought that if I die before I retire all the money I put in will be wasted. I have a life assurance policy to take care of my child if the worst should happen to me.
Am I missing something big here or being a niave 23yr old?
I mean the government pension seems like enough and by the time im 65 I most likely will have to mortgage or other debts and being 65 wont exactly want to go on nights out and wear designer clothes.
Also I dont like the thought that if I die before I retire all the money I put in will be wasted. I have a life assurance policy to take care of my child if the worst should happen to me.
Am I missing something big here or being a niave 23yr old?