Hope I save before I get old

IF YOU reach the age of 65 in the OECD, you can expect to live for another 19 years  or so (more if you are a woman, less if you are a man). If you stop work earlier than 65, and live a bit longer than average, you could easily be retired for 25-30 years, almost as long as you were in work. But people find it very hard to get interested in pensions (even Mrs Buttonwood), even though their financial future depends on them; retirement is too distant a prospect and the issue seems too complicated.

This blog has written a lot on the subject so it is time to summon some farewell thoughts. The executive summary: pensions are more expensive to fund, employers are less willing to do so, so you will need to save more (a lot more) and/or retire later. 

All pensions are paid for by the next generation. This may seem counter-intuitive; aren’t we contributing money every month? State pensions are paid for by current taxpayers (yes, there is a…Continue reading

IF YOU reach the age of 65 in the OECD, you can expect to live for another 19 years  or so (more if you are a woman, less if you are a man). If you stop work earlier than 65, and live a bit longer than average, you could easily be retired for 25-30 years, almost as long as you were in work. But people find it very hard to get interested in pensions (even Mrs Buttonwood), even though their financial future depends on them; retirement is too distant a prospect and the issue seems too complicated.

This blog has written a lot on the subject so it is time to summon some farewell thoughts. The executive summary: pensions are more expensive to fund, employers are less willing to do so, so you will need to save more (a lot more) and/or retire later. 

All pensions are paid for by the next generation. This may seem counter-intuitive; aren’t we contributing money every month? State pensions are paid for by current taxpayers (yes, there is a…Continue reading
Hope I save before I get old
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Hope I save before I get old

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