I talked last week about the rough-and-ready ‘how much should you save in your pension’ calculation we used in rougher and readier days. If you start at 20-something, to be able to retire at 60 something with half of your income, you need to put away 10% of what you earn every year. That’s every year until you retire. If you start at 30, it’s 15%, at 40, 20% and if you’ve done nothing by the time you’re 50, forget it. In those days, interest and annuity rates were 10% or more, and annuities were the only option. Now there are more choices, but the fact remains that most won’t get near to that 10%, most will expect or need more than half of their income to see them through, and many or most will stop-start throughout their careers. So, yes, the lack of pension savings (and decent pension schemes, now that final salary has disappeared) is a time-bomb ticking pretty loudly, I’d say.
“2024 a mixed year for sustainable investing, report finds”
lthough in theory the environment (pardon the) for sustainable/ethical/responsible funds improved significantly last year, the performance of many did not. Excluding oil/mining/guns/fags all hampered their performance in the aftermath of Ukraine.
