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  • It's sensible to put savings away, if you can, and even if you only just get in before your 40th birthday, if you put £4k in every year that's £20k from the government by the time you're 60. Nice little £100k lump sum.

  • It's sensible to put savings away

    You have to be careful though - if you are putting away large amounts of cash savings for retirement you should have first

    • maxed out your pension allowance (somewhat age depending)
    • maxed out your S&S ISA allowance
    • paid off any expensive debt

    What you describe is for people who are so rich they just don't know what to do with their money, and are happy for their capital to be munched by inflation (unless you were assuming it was backed by S&S, in which case your return is guaranteed, but in all probability it will be better than what you'd get with a cash savings in interest rate.)

  • maxed out your pension allowance (somewhat age depending)
    maxed out your S&S ISA allowance
    paid off any expensive debt

    What I want is a little calculator or something that an idiot (or worse, me) could understand that tells me when I should be paying extra into pension or ISA vs. when I should be overpaying my mortgage...

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