Mumsnetters and Gransnetters' top tips for a retirement savings plan

Generations saving

It’s difficult not to hide your head in the sand and ignore everything to do with pensions and saving for your retirement altogether, but here's what Gransnet and Mumsnet users have to say about their experiences of planning for retirement.

If you'd like some handy tips to help you get organised and handle your savings like a pro, Mumsnetters and Gransnetters have some sage advice.

Now is a great time to start
Woman smiles at credit card

“I could weep when I think of all the money I've frittered away on non-essentials when I simply could have saved it. Thankfully I've started to build up a work pension over the past few years and I take it very seriously. I doubt I will have any savings left this time next year, but thank God I have my pension that I can still grow, even if it's just a few pounds a month through my salary. I just wish I'd started a pension two decades earlier.”

Every penny counts
I'm on a budget

“I save as much as I can and spend very little. The mortgage will be paid off within the next year, and after that I can save even more. Part of my wage goes into The People's Pension every month, but I only work part-time as I mainly look after my kids. Hence the emphasis on saving.”

Keep it consistent
Family puts money in piggy bank

“I’m in my mid-40s and started saving about five years ago. I put a set amount into a savings account each month and this is for my retirement when the time comes. I think that we are pretty organised for our retirements because we've done this.”

Try to educate yourself
Woman reads through documents

“I definitely began to prepare too late. I think there should be a public information film, or maybe even a pension information event in schools. Just something to let us know that we should look after our finances for our future financial health. Simple information for schoolchildren. It's common sense.”

Get excited about it
Little girl dances on stage

“Retirement is an exciting new chapter in your life but only if you have enough money to enjoy it. That's definitely something we should think about early on.”

Always have it in the back of your mind
Woman taps head to remember

“Saving for one's retirement can be so difficult. The trick is to not splash out when you get a large sum of money. That's what you should be saving for an enjoyable retirement.”

Don’t let it confuse you
Confused woman looks at phone

“I don't think it's any wonder that less and less people are thinking of pensions. With the living wage so low and the cost of living so high, people can't afford to lose their pay to a pension pot because they need it to live now. I did look into it once, but it all seemed so confusing that I just gave up.”

Get your kids in the game early
Children put money inside savings jar whilst parents look on

“I could never afford to save so I only have very small work pension and state pension. I do wish I'd been able to save and encourage my children who have better jobs (though more expensive lives) to do so too.”

Don’t dismiss your union
Work colleagues high five

“Well-communicated information is important. I am grateful to my union for providing clear guidance at a time when it would have been easy to make choices that would have made my retirement income much less.”

Or your employer …
Woman counts money

“I'm already retired, although DH is still working. We're paying the absolute maximum into his company pension, which is matched by his employer, and I wish we'd done the same with mine. I know it's tempting to do the minimum, but if you can spare a little extra, you'll never regret it. I doubt anyone's ever regretted paying too much into their pension!”

Think of it as a new adventure
People scream on rollercoaster

“Retirement doesn't necessarily mean giving up work altogether. For me, opting to work part-time at the age of 60 allows me enough free time to do what I want and earn enough to live without having to dip into my savings. It was also the time to change careers and do something I really wanted to do.”