The benefits of regular action
Each month we all pay regular bills, whether that is council tax or a Mobile phone bill.We rarely give these a second thought and paying into a pension should also take that approach. Let’s face it there are far more interesting things to think about.
Often people look to make large lump sum contributions into pensions and agonise over the decisions Surrounding them. instead they should look to make regular Contributions. Setting up a regular contribution that is sustainable is a much better approach to save for future rather than making a large contribution now and then not make another contribution for another five years.
Not only will you benefit from pound cost averaging but you also get into the savings habit easier. It doesn’t have to be a large amount that you start with instead you can start with a small amount and increase it over time the key is to just start.
as your income and expenditure changes over time you will have a much better view of what you can then afford on a monthly basis and you can then tweak your pension contributions accordingly.
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