In this episode, we discuss what a pension is and the importance of building a private pension as a young person. You can think of your investments for retirement as a subscription that provides it's service to you when you are no longer working. The more you pay for this subscription now, the more it will return to you when you need it.
Episode summary: [00:52] What is a pension? [03:46] UK state pension. [06:22] UK company schemes. [09:05] What can the self-employed do for their pension. [12:34] How much you need to accumulate to stop working today. [14:57] Fees with company pension schemes vs. private pension (e.g. Vanguard). [22:18] Can you decide where your money is invested with a company pension scheme. [25:54] What can the young people of today do to ensure they have enough in retirement. [32:25] Outro summary.
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