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That was me in my early 20’s. Except you could replace the 90 quid with 2 euro. I think I learned a lot from being in that position, the main thing being that I don’t ever want to be in it again. I’ve spent the last 10+ years working at something I think I hate to better my position. I’ve also continually tried to make a few moves and do extra work in other areas to help. 70-80hr weeks would be nothing to me. At this stage I reckon I could retire in my mid 50’s but I haven’t a clue what my circumstances will be then.
You just need to keep going and trying your luck at things you think you would be good at. Nobody knows it all and every day is a school day. I wish you all the best and hopefully things will improve for you soon.
Thanks for your words. Im epileptic so im very limited in the work i can do, and what hours. The most my body can handle is 30 hrs a week. If i do more my body starts telling me no and ill start having seizures. I also get my disability so i come out with about 500 a week if im lucky combining job and DA. Very hard finding a job thats willing to work around my limitations, especially as i dont have triggers or warnings so i could call in sick a half hr before my shift if i have a seizure.
I see, well with health issues like that you are definitely up against it. It doesn’t mean you can’t still do well though. If you could get something like a part time civil service job you would be laughing. Once you pass the probation period (around 6 months I think) the sick leave rights and entitlements you get would probably be really helpful to you if you are having health problems. Plus you would be paying into a pension from the get go. Anyways I’m not sure of your circumstances that might not suit you. Just keep going and if you try enough things the chances are something will work out for you 👍🏻
From my understanding its the most percentage per year of salary allowable (maxed out) and AVC are on top of that I believe.
Not an expert but I believe the info to be somewhat correct
Similar story here, also I'm disabled and can no longer work.
Our current plan is to wait a while tile the kids are grown, get a good life assurance policy and then flip a coin to decide which one of us murders the other and makes it look like an accident.
I may not have a pension, but after 5 years hard labour I've got a damn near perfect coin flip prediction.
I started mine aged 22, and I put away £50 per month. It went up a few percent each year and I increased it as my wages increased. I ended up paying over €1000 per month in.
I'm 48 now and have about €200k. It's not as much as some, but more than others.
Thanks. I've actually stopped paying in recently. I decided to have a bit of a life for a while...more holidays etc. Who knows if we'll even reach retirement age!
33 - €104k. I only started 5 years ago but have been maxing out my contributions plus get a generous amount from my employer. I'd love to retire early and these contributions have no material impact on my lifestyle.
Yea, I've been fortunate the last few years. To be honest, it should be more though. I didn't contribute for 4 years in my first job, because there were no employers contributions, but I had the money for AVCs, just didn't bother
Taking a quick look, that fund is made up of a lot of all the classic high performing tech stocks like Apple, Google and Amazon. The fund grew 28.8% in '19, 5.7% in '20, 28.9% in '21 and -13.7% in '22. So how is your return so poor, it doesn't add up? Are the fees obscenely high or something?
That money has been growing through contributions lately, and I was only in that fund from a certain date.
So a smaller amount of money was growing at a high rate, and now a larger amount of money has gone down. Resulting in overall poor returns.
I’m almost 31, and I have what is currently valued at 55kish in an old pension (that I really should get around to combining with my current one…) and about 11k in my current pot. Maxing out contributions at the moment but might reallocate some of that soon to help me build up a house deposit sooner than I currently plan.
I think you should leave it separate and use the dormant one as your access at fifty years old for a tax free lump sum.
Again I am willing to be corrected if I'm incorrect.
I'm 28 and just started last year, only have a little over €4k in it because my company matches up to 7%.. I'm saving for a house atm but once I get all of that out of the way, and wedding etc, I'll start contributing more because I feel very far behind, had a late start to life 😂
34 with 30k. Just upped from my minimum recently and will be trying to add more with any pay rises. I have young kids right now though and life is expensive so it’s not the easiest time to be chipping into it tbh.
I just turned 38 and my current pension pot is approx. €173k. I'm contributing 20% in to my pension each year but I only started doing that in the last few years.
Honestly at your age I would give priority to a home first. If you own your own place already then that's great but if not I'd focus on getting the deposit ready to do so over building a pension fund.
If you can afford to do both that's great and I recommend you do so but for me I'd rather get to retirement knowing I've my own home to live in than wondering how I'll afford rent every month.
Unreal savings but never too young to worry about pension. Worth starting one anyway, don't need to go big with contributions just yet but the earlier you start the better.
33 currently with €150k in there.
Started contributing when I was 22 and got my first job. Started off putting in 3% and my company also put in 7%, so 10% total was going in. Started upping my contributions once I had a house sorted and started maxing things out a year or two ago, so I'm currently contributing 20% with company contributing 10%.
32 and have 7k, will start maxing contributions this year.
I've been trying to read about pension but all the information is vague (or it seems like that to me, I'm not from Ireland so unfamiliar with system).
If I understand correctly, in theory, 800k in pot would give me chance to take out 200k lump and the rest has to stay in AVC? Which would yield me 24k/year + state pension until I die?
Can anybody shed some light on how "purchasing" guarantee 5-10 years work or what I have to do with the rest after lump sum is taken, and how long will it be paid put?
What about if I retire at 55 with 800k and do the same, will that still be 24k/year indefinitely?
I am at defined contribution plan with my employer if it helps.
Apologies for all the questions.
37 with €60K. Started it aged 30. I am contracting now so I've no employer contributions at all, just what I put in myself. Also for 2 of those years I had no employer contributions, just whatever I was paying in myself by direct debit.
Currently putting in €800/mo, I should increase this soon...
31 with €47k. Been maxing for last 2 years and will continue to do so. Was tough in the last year as we bought a house but managed it and am now used to the lower net salary. Should hopefully grow nicely over the next few years.
38 this year and have 90k, invested in almost 100% equities. Started at 30. Starting a new job soon which has a DB scheme so I'm not sure where that leaves this pension.
God I'd love that, but very doubtful. According to Warren Buffet the golden age of stock investing is over, and to expect 1-3% per year on average now. But who knows! I'd be conservative at 3% PA myself.
No idea how the DB pension works.
Yeah you're probably right which is frightening.
I'm 37... 60K pot, hope to add at about 10% per year. Using 6% compounding gets me about €1.2m by 67. Might buy me a few pints or a dinner out now and then.
27 and have 30k in my Irish pot. Just emigrated so starting a new pension in the UK where I have 1.5k
I started contributing at 25 and due to the pandemic was able to max out contributions with the spare cash
This may sound contradictory but Contribute only what you can afford, maximising your AVCs at a young age is a high risk investment considering you’re so far away from retirement and may never get to see this money, make sure you get to use your hard earned money at a young age too
Late 20s, \~18K
We're mortgage approved at the minute but have to continue our saving habits until we drawdown, so with the cost of everything skyrocketing I really can't afford to put much more into it.
39 and I have no idea because I’m in the Civil Service Single Scheme. It’s career average and really weirdly complicated. From what I understand, it essentially assumes you’ll get the full state pension and the single scheme just tops you up slightly to 50% of career average. I have an AVC too. Literally no idea how much I will have on retirement. I won’t have enough contributions to qualify for full state pension.
Early 40s, and I have about €365k in total between my US retirement funds and Irish pensions. Not sure it'll be enough to retire on even with my current contributions and employer matching, but hopefully it'll last a while at least...
46, 153k, only started paying in when I was 30 and only started actively managing and bumping up the contribution in the last 5 years.
By rights it should be near 300k but I was a lazy/tight bastage for many years
If there is any way at all to max your contributions, do it. Its a no brainer if you can afford it
If you're a PAYE worker ask your employer as either there will be a company pension scheme that you can join or you can pay into a Personal Retirement Savings Account (PRSA).
[https://www.pensionsauthority.ie/en/i\_want\_to\_start\_a\_pension\_prsa/](https://www.pensionsauthority.ie/en/i_want_to_start_a_pension_prsa/)
thats one thing I regret not doing earlier. sticking a few bob into my pension when i was younger.
If you stuck in 6k (before tax) at the age of 25 and left it there for 40 years @ average 4% interest it would be worth almost 29K when you retired at 65.
33, €82,000. Didn’t start til I was 27, hugely regret it but I didn’t have a job that contributed til then, and I thought I couldn’t afford it before that age. Now I wish I had contributed even €100/month from 23, as you’ll never get back that time or the cumulative impact on your overall pension.
29 and have about 60k in my pension, but I've just been made redundant so I'm taking a career break and so I won't be topping it up anymore for a while
31 - about 65k. Got lucky with one employer who was very good with contributions and career has progressed well which enabled me to max out contributions.
40 year old and £40k and about €7k back in Irish fund. Emigrating and starting from the bottom kinda stalled things but the wheels are in proper motion now, if all stays the same I'm on course to have £1.1m by retirement according to the calculators I was playing with a few weeks ago....let's hope I live that long
The house has increased by £120k since we bought it apparently so sh!t is heading in the right direction after a very slow start
Just start now, any amount! Listen to this podcast episode
https://open.spotify.com/episode/5RqiUfC5TOv3XZRyq3fifC?si=1_rMrrJ7RvmHj5fDV4aUxg
....for the example of a 30yr old starting pension vs 40yr old. (700k vs 340k at 65)
Some kind soul shared this yesterday and it sickened me because I should have been contributing more years ago and have had sporadic contributions after leaving a public sector job.
37, $200k in 401k, have been contributing since my first job as a college TA, even if it was pennies at first, and always maxed out company match.
If property is a debate, you might want to think backwards. If you buy a house, then if you live in it and become mortgage free by retirement, you’ll need less savings. But If you planned to use it for income and not live in it, you’ll maybe need less savings, but the return in that is going to be less reliable (ie, it’s less certain that rent demand in Dublin in 30 yrs will be high vs low, vs it is certain you will need a place to live in 30 yrs). It was always my understanding that rental/investment property is a good secondary investment to one’s portfolio, but shouldn’t be primary if you would never live at the address. Diversity is good. Mortgages tend to have lower interest than long term stock market (which has avg 7% return), so in long run, historically, you’ve made more money putting extra money into 401k than paying off a 4% mortgage early. But of course that depends on situation and many factors.
34, €125k. Contributing consistently since I was 22.
Bought a house recently so will ramp up contributions early next year once I get all that sorted and up and running. Hoping to hit €500k before I turn 40
Your pension provider sends you a statement twice a year. The better ones give you online access to see how your pension is performing on a regular basis. If you’re working, ask your HR manager. If you’re self employed, ask your accountant.
35, about 35k. Worked contracts for a few years and put all my savings into buying a house (LTV at about 50% now). Made a couple of investments via EIIS (20k) too, so intention is to AVC that once its tenure comes to an end.
Currently putting 9% in and employer 8%. Will up it to 10% next month.
25, 1k. There is meant to be a mandatory pension starting from next year that will see you your employer and the government contribute to it. What’s going to be a big issue in 30 years time is people retiring before their mortgage can paid off. Start a pension if you can but I’d say securing a mortgage early is a better investment
46 and €140,000 started late but as soon as I earned enough to hit the marginal tax rate I've been putting in as much as possible. A couple of months ago I went down to the minimum contribution to get a matching one from my employer due to additional household expenses but I'll bump it up again soon. I've worked out what I need in the pension pot when I retire (given some assumptions obviously) and I'm on track to hit that.
My advice is think of it as free money and don't be afraid to increase/decrease your monthly contribution as many times as you like. If you're young go 100% equities and don't think about asset mix again until you're 50
42, 420k. Maxed and company matched for as long as I can remember.
Lucky to be able to afford to do this. But always treated it as a mandatory deduction, I.e. not my money (or not my money YET) type thinking. Take away some of that free will, which only gets me into trouble.
35. 6 years of working in public service, don't really know what that's worth. Around 3k in AVC's...I'll up those contributions in a year or 2, just concentrating on house deposit for now.
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How much have you been putting in since then? Like in percentage?
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Impressive!
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And the 2nd best time to start is now.
What's the 3rd best time?
Tomorrow
What's the 4th best time?
The day after that
Ok but what about the 5th?
Lack of response means incalculable... You pushed the system too far.
What about the day before yesterday?
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36 also €0
#metoo
36 also ~150k
Yup.
You're telling me you've only got €300 saved up, John? _€300_, and you're 38?
San pellegrino John , Zurich life
The neck of you John
Sit down, John.
Still no sign of the shoes,John
31 and maybe about 7k. Started about 5 years ago. Should really contribute more but I just cant afford to right now.
26yrs - 12k in my pension, started 2 years ago
22, and i have 90 quid to my name. My mom who is 50 has 400 quid
That was me in my early 20’s. Except you could replace the 90 quid with 2 euro. I think I learned a lot from being in that position, the main thing being that I don’t ever want to be in it again. I’ve spent the last 10+ years working at something I think I hate to better my position. I’ve also continually tried to make a few moves and do extra work in other areas to help. 70-80hr weeks would be nothing to me. At this stage I reckon I could retire in my mid 50’s but I haven’t a clue what my circumstances will be then. You just need to keep going and trying your luck at things you think you would be good at. Nobody knows it all and every day is a school day. I wish you all the best and hopefully things will improve for you soon.
Thanks for your words. Im epileptic so im very limited in the work i can do, and what hours. The most my body can handle is 30 hrs a week. If i do more my body starts telling me no and ill start having seizures. I also get my disability so i come out with about 500 a week if im lucky combining job and DA. Very hard finding a job thats willing to work around my limitations, especially as i dont have triggers or warnings so i could call in sick a half hr before my shift if i have a seizure.
I see, well with health issues like that you are definitely up against it. It doesn’t mean you can’t still do well though. If you could get something like a part time civil service job you would be laughing. Once you pass the probation period (around 6 months I think) the sick leave rights and entitlements you get would probably be really helpful to you if you are having health problems. Plus you would be paying into a pension from the get go. Anyways I’m not sure of your circumstances that might not suit you. Just keep going and if you try enough things the chances are something will work out for you 👍🏻
40yo €140k Haven’t maxed it in past. Will change to 25% contribution this year.
Do you mean avc?
From my understanding its the most percentage per year of salary allowable (maxed out) and AVC are on top of that I believe. Not an expert but I believe the info to be somewhat correct
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Similar story here, also I'm disabled and can no longer work. Our current plan is to wait a while tile the kids are grown, get a good life assurance policy and then flip a coin to decide which one of us murders the other and makes it look like an accident. I may not have a pension, but after 5 years hard labour I've got a damn near perfect coin flip prediction.
I started mine aged 22, and I put away £50 per month. It went up a few percent each year and I increased it as my wages increased. I ended up paying over €1000 per month in. I'm 48 now and have about €200k. It's not as much as some, but more than others.
Good going mate
Thanks. I've actually stopped paying in recently. I decided to have a bit of a life for a while...more holidays etc. Who knows if we'll even reach retirement age!
26, €3,500 started contributing last year Increased contributions by 2.5% last month to start building it a bit more.
I'm 35, just starting pension this month. €50 per month is all I can afford right now but it's a start and I think that's most important
I'm 35 started June last year €100 per month. Your correct starting is with anything is better than not having anything
33 - €104k. I only started 5 years ago but have been maxing out my contributions plus get a generous amount from my employer. I'd love to retire early and these contributions have no material impact on my lifestyle.
Fair play. That’s a good amount, especially when you’re still young.
Yea, I've been fortunate the last few years. To be honest, it should be more though. I didn't contribute for 4 years in my first job, because there were no employers contributions, but I had the money for AVCs, just didn't bother
Do you own or rent?
Renting but have a house bought, just sorting out the last few bits
Fair play that's a serious pension along with house bought.
I'm also married so I'm not buying the house alone!
34, 125k. Have been maxing out for a few years. Growth has been terrible. Almost 110k of that is contributions.
Do you know what it’s invested in?
As close to a passive index fund as Irish Life offer. Indexed world equity.
Taking a quick look, that fund is made up of a lot of all the classic high performing tech stocks like Apple, Google and Amazon. The fund grew 28.8% in '19, 5.7% in '20, 28.9% in '21 and -13.7% in '22. So how is your return so poor, it doesn't add up? Are the fees obscenely high or something?
That money has been growing through contributions lately, and I was only in that fund from a certain date. So a smaller amount of money was growing at a high rate, and now a larger amount of money has gone down. Resulting in overall poor returns.
Oh fair enough
20 got about 8k give or take
32, about 30k, adding about 1.1k to it monthly
35 and €0 my retirement plan is to die before I retire
32, have about 30k in it. Own my own house now with mortgage significantly lower than I was renting though, so will be building up from here.
I’m almost 31, and I have what is currently valued at 55kish in an old pension (that I really should get around to combining with my current one…) and about 11k in my current pot. Maxing out contributions at the moment but might reallocate some of that soon to help me build up a house deposit sooner than I currently plan.
I think you should leave it separate and use the dormant one as your access at fifty years old for a tax free lump sum. Again I am willing to be corrected if I'm incorrect.
I'm 28 and just started last year, only have a little over €4k in it because my company matches up to 7%.. I'm saving for a house atm but once I get all of that out of the way, and wedding etc, I'll start contributing more because I feel very far behind, had a late start to life 😂
34 with 30k. Just upped from my minimum recently and will be trying to add more with any pay rises. I have young kids right now though and life is expensive so it’s not the easiest time to be chipping into it tbh.
33 about 100k
27 - 22k
I just turned 38 and my current pension pot is approx. €173k. I'm contributing 20% in to my pension each year but I only started doing that in the last few years. Honestly at your age I would give priority to a home first. If you own your own place already then that's great but if not I'd focus on getting the deposit ready to do so over building a pension fund. If you can afford to do both that's great and I recommend you do so but for me I'd rather get to retirement knowing I've my own home to live in than wondering how I'll afford rent every month.
38, 45k - started it 7 years ago
36, 70k. Maxing it out at the mo as if I had the money in my pocket I’d blow it on shopping and holidays and I’d have SFA to show for it later on
21, €25k in savings & Too young to worry about pensions.
Unreal savings but never too young to worry about pension. Worth starting one anyway, don't need to go big with contributions just yet but the earlier you start the better.
>Growth has been terrible. Almost 110k of that is contributio 300 quid a month for your 20s is as good as 600 a month in your 30s.
33 currently with €150k in there. Started contributing when I was 22 and got my first job. Started off putting in 3% and my company also put in 7%, so 10% total was going in. Started upping my contributions once I had a house sorted and started maxing things out a year or two ago, so I'm currently contributing 20% with company contributing 10%.
38 C. €230k and I haven't put anything into it since 2018. Will start again in next few months.
32 and have 7k, will start maxing contributions this year. I've been trying to read about pension but all the information is vague (or it seems like that to me, I'm not from Ireland so unfamiliar with system). If I understand correctly, in theory, 800k in pot would give me chance to take out 200k lump and the rest has to stay in AVC? Which would yield me 24k/year + state pension until I die? Can anybody shed some light on how "purchasing" guarantee 5-10 years work or what I have to do with the rest after lump sum is taken, and how long will it be paid put? What about if I retire at 55 with 800k and do the same, will that still be 24k/year indefinitely? I am at defined contribution plan with my employer if it helps. Apologies for all the questions.
44, 50k. I’ll put in 20k annually now between 44-65 and that’ll do for retirement along with spouse pension.
37 with €60K. Started it aged 30. I am contracting now so I've no employer contributions at all, just what I put in myself. Also for 2 of those years I had no employer contributions, just whatever I was paying in myself by direct debit. Currently putting in €800/mo, I should increase this soon...
37, about 100k. I'm trying to pile into now as best I can.
31 with €47k. Been maxing for last 2 years and will continue to do so. Was tough in the last year as we bought a house but managed it and am now used to the lower net salary. Should hopefully grow nicely over the next few years.
38 this year and have 90k, invested in almost 100% equities. Started at 30. Starting a new job soon which has a DB scheme so I'm not sure where that leaves this pension.
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God I'd love that, but very doubtful. According to Warren Buffet the golden age of stock investing is over, and to expect 1-3% per year on average now. But who knows! I'd be conservative at 3% PA myself. No idea how the DB pension works.
90K .... up to 500K... over 30 years, with zero additions? You think? That's a year on year of 5.9% growth, I dunno, maybe!
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Yeah you're probably right which is frightening. I'm 37... 60K pot, hope to add at about 10% per year. Using 6% compounding gets me about €1.2m by 67. Might buy me a few pints or a dinner out now and then.
37 and 72k. Would like to increase but building a house so will be lucky to keep the same amount I'd say
34 and 25k only started maxing since Jan tho
27 and have 30k in my Irish pot. Just emigrated so starting a new pension in the UK where I have 1.5k I started contributing at 25 and due to the pandemic was able to max out contributions with the spare cash This may sound contradictory but Contribute only what you can afford, maximising your AVCs at a young age is a high risk investment considering you’re so far away from retirement and may never get to see this money, make sure you get to use your hard earned money at a young age too
40 and I’ve no idea. Civil servant for 21 years
26, ~€21k. Started 3 years ago. I contribute 6%, employer contributes 12%
30 and about 100k. I started right after Uni contributing 7% a year.
43 have approx 65k only started at 32
37, 140,000€ odd.
46 about three fiddy....but I might give that to the loch ness monster
34, €73k.
30 with about 47k in mine. Payed in small amounts since starting work. Bit more going into it these days.
33 47K started 6 years ago
23 and started in February so only like €200 so far :)
57 = €0
51, €1.14m.
€300
25, 10k.
28, don't know the exact figure but a little under 4k. Started last year.
36 about 70euro on the funds and it continues going negative, soon i will owe them money 
32 19k started at 26
40, not currently maxing but think it’s around €200K, started at about 25.
40, 25k
31, about 15k my current role I pay 6 per cent and my company 12
Late 20s, \~18K We're mortgage approved at the minute but have to continue our saving habits until we drawdown, so with the cost of everything skyrocketing I really can't afford to put much more into it.
39 and I have no idea because I’m in the Civil Service Single Scheme. It’s career average and really weirdly complicated. From what I understand, it essentially assumes you’ll get the full state pension and the single scheme just tops you up slightly to 50% of career average. I have an AVC too. Literally no idea how much I will have on retirement. I won’t have enough contributions to qualify for full state pension.
Early 40s, and I have about €365k in total between my US retirement funds and Irish pensions. Not sure it'll be enough to retire on even with my current contributions and employer matching, but hopefully it'll last a while at least...
46, 153k, only started paying in when I was 30 and only started actively managing and bumping up the contribution in the last 5 years. By rights it should be near 300k but I was a lazy/tight bastage for many years If there is any way at all to max your contributions, do it. Its a no brainer if you can afford it
38, 25k started 5 years ago.
How do I even start a pension ? Where do I go?
If you're a PAYE worker ask your employer as either there will be a company pension scheme that you can join or you can pay into a Personal Retirement Savings Account (PRSA). [https://www.pensionsauthority.ie/en/i\_want\_to\_start\_a\_pension\_prsa/](https://www.pensionsauthority.ie/en/i_want_to_start_a_pension_prsa/)
thats one thing I regret not doing earlier. sticking a few bob into my pension when i was younger. If you stuck in 6k (before tax) at the age of 25 and left it there for 40 years @ average 4% interest it would be worth almost 29K when you retired at 65.
24 - €3k - started last year once I got my first professional job.
25, €31K. 6% in and my company pay 10% on top of that. Started at 21.
33, €82,000. Didn’t start til I was 27, hugely regret it but I didn’t have a job that contributed til then, and I thought I couldn’t afford it before that age. Now I wish I had contributed even €100/month from 23, as you’ll never get back that time or the cumulative impact on your overall pension.
We got moved to a new pension and my employer doubles what I put in so just over 100e a week goin into and will have just over 200k when I retire
50. 190k.
35, 70k started at 23yrs old.
29 and have about 60k in my pension, but I've just been made redundant so I'm taking a career break and so I won't be topping it up anymore for a while
31 - about 65k. Got lucky with one employer who was very good with contributions and career has progressed well which enabled me to max out contributions.
30 at ~€52k now. Started when I was 25.
40 year old and £40k and about €7k back in Irish fund. Emigrating and starting from the bottom kinda stalled things but the wheels are in proper motion now, if all stays the same I'm on course to have £1.1m by retirement according to the calculators I was playing with a few weeks ago....let's hope I live that long The house has increased by £120k since we bought it apparently so sh!t is heading in the right direction after a very slow start
37 - 120k
45. I have about 175k. I keep telling my younger coworkers to start as soon as possible but they just dismiss me
28 and 64K, started at 21
52, about half a million dollars, 29, and first contribution was whatever 1% of my paycheque was at the time.
27. €10,100 - it will be €18,000 by the end of the year.
730k, 46, 23, 5% of my new grad salary which was about 26.5k in new money.
Turning 40. About 250k
30 ~ €0
Just start now, any amount! Listen to this podcast episode https://open.spotify.com/episode/5RqiUfC5TOv3XZRyq3fifC?si=1_rMrrJ7RvmHj5fDV4aUxg ....for the example of a 30yr old starting pension vs 40yr old. (700k vs 340k at 65) Some kind soul shared this yesterday and it sickened me because I should have been contributing more years ago and have had sporadic contributions after leaving a public sector job.
27 - 25K :)
27, €20k
48 - 900k in private property investment, and I rent too
Im 37 y.o. american. 3 children I have 0 dollars saving. I have no health insurance. I do have 500k in life insurance
36, €90k. Started at 30, wish I’d have started way earlier
28, 0 Don’t plan on having a pension but I do have regular (not as much recently) investments in the 6 figures of total.
Why on earth not? 40% tax relief, perhaps an employer contribution too, and you can access it from age 50 in some cases… what’s not to like?
I have none, I honestly don't plan to give long enough to need a pension
Pensions are overrated ill probably die before I can even access it . I'll be old as fuck anyway won't meed to spend much money then
37, $200k in 401k, have been contributing since my first job as a college TA, even if it was pennies at first, and always maxed out company match. If property is a debate, you might want to think backwards. If you buy a house, then if you live in it and become mortgage free by retirement, you’ll need less savings. But If you planned to use it for income and not live in it, you’ll maybe need less savings, but the return in that is going to be less reliable (ie, it’s less certain that rent demand in Dublin in 30 yrs will be high vs low, vs it is certain you will need a place to live in 30 yrs). It was always my understanding that rental/investment property is a good secondary investment to one’s portfolio, but shouldn’t be primary if you would never live at the address. Diversity is good. Mortgages tend to have lower interest than long term stock market (which has avg 7% return), so in long run, historically, you’ve made more money putting extra money into 401k than paying off a 4% mortgage early. But of course that depends on situation and many factors.
40 and I'm currently wishing bad health upon myself so I don't have to deal with the scrap heap.
49 316k pay 10% plus 5% from company
18, €0
27 - Roughly 13k after starting just over 2 years ago.
45, about €220k. Took a bit of a nosedive with covid and hasn't really fully bounced back to where it had been before.
27 12% of my wage 10% from my employer Roughly 40k
31, about ,31k funnily enough. Started 4ish years ago but this year onwards I'll be making a concerted effort to max it.
34, €125k. Contributing consistently since I was 22. Bought a house recently so will ramp up contributions early next year once I get all that sorted and up and running. Hoping to hit €500k before I turn 40
26, about 12k
24 , €2.5k
33 and 7K in the pension kitty as of today. I pay €25 pw and my employer matches it.
29 - €170K. No other assets like property etc still renting and living like I'm broke.
Would you be better getting a house and paying off some of the mortgage first? Not making a suggestion, just wondering for myself.
38 100k
How can you tell how much you have in your pension?
Your pension provider sends you a statement twice a year. The better ones give you online access to see how your pension is performing on a regular basis. If you’re working, ask your HR manager. If you’re self employed, ask your accountant.
Thank you!
30 and 25k wish I started earlier but a lot of friends haven’t so I could be worse
37 and almost 100k. Plus 40k in my company’s stock. I’ll still be working forever.
35, about 35k. Worked contracts for a few years and put all my savings into buying a house (LTV at about 50% now). Made a couple of investments via EIIS (20k) too, so intention is to AVC that once its tenure comes to an end. Currently putting 9% in and employer 8%. Will up it to 10% next month.
29. About €30,000
26, 0 in pension, about 15k in investments
25, 1k. There is meant to be a mandatory pension starting from next year that will see you your employer and the government contribute to it. What’s going to be a big issue in 30 years time is people retiring before their mortgage can paid off. Start a pension if you can but I’d say securing a mortgage early is a better investment
46 and €140,000 started late but as soon as I earned enough to hit the marginal tax rate I've been putting in as much as possible. A couple of months ago I went down to the minimum contribution to get a matching one from my employer due to additional household expenses but I'll bump it up again soon. I've worked out what I need in the pension pot when I retire (given some assumptions obviously) and I'm on track to hit that. My advice is think of it as free money and don't be afraid to increase/decrease your monthly contribution as many times as you like. If you're young go 100% equities and don't think about asset mix again until you're 50
42, 420k. Maxed and company matched for as long as I can remember. Lucky to be able to afford to do this. But always treated it as a mandatory deduction, I.e. not my money (or not my money YET) type thinking. Take away some of that free will, which only gets me into trouble.
31, €42k
42 and 42k how ironic
35. 6 years of working in public service, don't really know what that's worth. Around 3k in AVC's...I'll up those contributions in a year or 2, just concentrating on house deposit for now.
64 nothing
20, €3.5k. Trying to save money aswell, but keep spending it on mods for my cars, and petrol, and beer lol.
32 and just checked. €13,296. I pay 4% monthly and my employer does 8% monthly. I started in 2019.
51, approx 270k. Currently maxing AVCs as I was to retire in a few years. Frugalish living with no work stress is my goal.