On paper, the earlier an individual starts contributing to a pension, the better. It allows more time for compounding to have a positive impact and generally means there is a better chance of a higher value pension at retirement age. However, for someone in the earlier part of their career, there may be a more pragmatic option than investing in a pension at the moment. Buying a first home could be a better idea, since the prospects for the housing market appear to be bright as a result of an accommodative monetary policy and a continuation of Help to Buy. In contrast, the stock market may lack value over the medium term. |
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