What do you think your financial situation will be like over the next 10 years?

[stupidmoney]

Due to a lot of my 20's and 30's being in poor health, I never really got going with pension savings. It depresses me how much my health impacted on my finances, really. I'm now trying to rejig a small business with a view to saving a bit for the long term. Fortunate that my DP can support me by paying the rent for now but I want to be able to make a proper financial contribution.

Even saving a small bit in a pension is better than nothing, right?

In 10 years time I'll be pushing 50, so I hope to have built my savings steadily. How about you?

I thought I would be in a much stronger position, but my young adult DC struggle to pay their rent because wages are so low in comparison.

I have spent a lot supporting them, ensuring they have enough to cover their bills, food and basics like shoes.

I will be fine when mortgage is paid off and I retire though. So I have about four/five more years of slogging.

Even saving a small bit in a pension is better than nothing, right

This very much depends on your personal circumstances. Many retiree's have found themselves "just" over the limit to get any additional help because of a small pension, when they'd have been better off not having it and getting full assistance. They can end up worse off financially. So I always urge anyone who this might apply to, to think very carefully.

If you have a partner, home paid off, decent savings etc then yes any pension is better than nothing.

I'm in the first group so I'm not putting anything into a pension (numerous reasons why I didn't start one when I was young). State pension + other benefits will give me approx £300 per week cash. I'm in SH, so no housing/repair costs. Full CT covered. Live in London so don't run a car. I've lived on far less at various points in my life so not really worried.