News on Youtube Dec 29 2017

Hi, my name is Jasper and this is Pensions 101, a series designed to help you make sense

of pensions.

Today we're going to talk about how much you need for a comfortable retirement.

Recent Which? data found out that £13,000 a year would give you a good retirement.

They found that a retired couple would spend £26,000 a year on household essentials, plus

of course the extras such as a holiday and other leisure activities.

This breaks down to £13,000 per person in retirement.

So what does it mean for your savings?

A couple would need a retirement pot of £210,000 in order to get that £26,000 a year retirement

income, alongside your state pension.

Couples starting from scratch need to save £198 a month if they're 30, or £338 if they're

40 in order to get that total pot.

That's just £4.95 or £8.45 per working day, which works out to around the cost of lunch

and a coffee.

Well, if you're based in London!

Again, it's what your mum and dad told you: the earlier you start saving, the better the

retirement you will have.

But it's never too late to start saving for a good retirement.

Any old or lost pensions can also help you reach your retirement goals.

For visibility and clarity, you can consider combining them all into one place so you can

keep track of them.

Remember, pensions are an investment and as with all investments, your pension pot can

go down as well as up so your capital is at risk.

For more information about setting your savings goals, why not visit our blog?

The link is there.

Thanks for watching this video.

Please do share it with anybody you think might find it useful and don't forget you

can comment in the comments box below.

Like our video and don't forget to like our YouTube channel as well!

Thanks for watching.

I'm Jasper from PensionBee.