When is it too late to set up a pension?

[Grant]

A friend of mine hasn't started on his pension, and he's working his way into his 40s. He has never set up a retirement fun either and I worry this guy is not going to have a sustainable life after he retires, that is if he can even retire without a pension or retirement.

Anyway, when is it too late?

 

[Busybee]

The earlier the better. Once we start investing earlier, it is possible to invest smaller amounts. As we delay, we have to invest more. Even if it is late it can still be beneficial to start saving and investing for your future. While you may not have as much time for your investments to grow, any contributions and investment returns can still provide a valuable supplement to your retirement income.

 

[Mostee501]

It's never too late to start setting up a pension, but the ideal time to begin saving for retirement is as early as possible. The earlier you start, the more time your investments have to grow and accumulate over the long term.

 

[Kane]

If you are building your own pension and if your employee does not provide you with a pension, you need to start saving for your pension funds as soon as you start working. One of the easiest ways to do so is to buy a pension plan insurance scheme that will start giving you returns after 15-20 years.

 

[Syldan]

Actually it might depends on the kind of people involved.

There are people who are not willing to set up a pension while they were still in service where income comes to them every month not until they retired where income are no more constant to them.