Ask Us Anything: Should you be worried about a 'pension crisis'?

Feb 9, 2024

Explore the pension crisis for Millennials and Gen Z and the need for increased savings and active management. Learn about optimizing pensions, reducing contributions to pay off debt, and the benefits of work-based pension schemes. Discover the benefits of different types of pensions and recommended contribution percentages based on income. Understand the importance of looking at retirement savings holistically and increasing contributions as you age.

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Introduction

00:00 • 1min

Exploring the Pension Crisis for Millennials and Gen Z

01:30 • 2min

Understanding and Optimizing Pensions

03:06 • 2min

Benefits and Considerations of Different Types of Pensions and Recommended Contribution Percentages

04:58 • 4min

The questions are all about pensions this week:

What are our thoughts on a ‘pension crisis’ for Millennials/Gen Z when retirement comes around?
Should you reduce pension contributions in order to pay off debt quicker?
What % of your income should you pay into your pension?

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This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life.