Should I invest in a pension (At 22)?

Question

I am 22 years old but I am unsure of weather or not I should start investing in a pension.

Only asking because I am unsure if i am too young to start thinking about it.

What do you guys and girls think?

Answer 1

at the moment pensions aren`t a good idea, you won`t get much back but you have a long way to go before retiring, they could come good or they could go the other way, all pensions are a lottery at any time, the best way to be sure of a good pension is to save money every month yourself in a high interest long term account, if you are the sort of person who is tempted to delve in the money give your book to your parents to look after then just forget about it.

Answer 2

Never too young. The longer you leave it the less money you will have when you retire. The state pension is a pittance and you cannot survive on that alone. You can get one that contracts out so you get your state pension now added to your personal pension.

Answer 3

YES!

Even if it's just £20 a month - it will add up!

Start a stakeholder pension (your company should offer you one), if you're lucky your employers will contribute to it also.

Take a look at the difference it makes here:

http://www.legalandgeneral.com/calculato...

Answer 4

Yes!

If your employer is giving you free money then do it!

even if they are not it doesn't hurt to invest in you future

Answer 5

  dudette,

  you are 22 not 62!

  go have some fun!

Answer 6

You are not too young to decide but mature enough to decide, the future.

Buy a unit linked pension plan with a small monthly premium, so that your other plans are not disturbed.

Answer 7

Yea I definitely started investing in my retirement in college. Investing is never too early as long as you know what you are doing so make sure you have sound and reliable financial advice. I'm with A.I.G because I know I'll probably be traveling a lot and going from job to job and they are the biggest international handler. I am also 22 so go for it!