how does the average working person afford to pay a pension today for a comfortable future and live today?

Answer 1

You can't.

It's already proven that the average wage can't afford an average priced house, so how on Earth can you afford to pay 10% in contributions too?

I'm now having to reduce my contributions becasue my Council Tax keeps going up at 10% a year. It's just a good job I started my pension when I was young!

Answer 2

The last guy has the right idea, but everyone else has a point as well. The problem is, to save for your future, you have to cut down on your present. Everyone suggests saving atleast 10% of your income a year, and investing that wisely. I suggest saving even more. If you want to have a comfortable retirement, you have to be willing on giving up some comforts that you have now. Eating out, fast food, last minute vacations, and things like that. Create a budget. Start with saving 10%. If, after a few weeks that is to easy, and you are not feeling the pinch, up that to 15%, and try that for a few weeks. Keep uping the amount you save till you feel it. When you get raises, instead of spending more, increase the ammount your a saving.

Also get advice on how to invest your money. Find Someone you trust, and come to an agreement that you can live with. Then get their advice on how to invest your money.

Answer 3

i dont think that you can very easily, most people work long hours and the thought that you have a old black and white tv to come home to, thats if you make it home in your 1985 Datsun Cherry (after cooking diner on your Belling as you dont have a microwave) BUT a third of your wages are going on your pension so you can retire in relitive comfort, thats if its been invested properly, not spent by the directors or you live long enough to enjoy it !!
My dad had a great pension, he worked to provide a stable lifestyle for when he retired. he died long before he had the chance to spend it.

in an ideal world yes you should have a pension but can you afford to put enough aside to make it worth while, alot of people put there pension in bricks and mortar !

Answer 4

I put a lot of thought into that. 1, Well I'm starting by reading; like Newton says: 'If I can see further than others it's because I stand on the shoulders of giants. And 2, I don't think we can get it by saving ten cents here and there; we need something big; I'm at College and I want a Diploma [I've almost got that], a Degree, a Masters Degree, and a Doctorite. I refuse to put all my efort into making ten cents per hour- how could that ever make us rich? Anyhows many of the world's greats agree.

Answer 5

They need to prioritise, is SKY TV more important than saving for your future? Is having a brand new car more important than your future?

people need to save at least 10% of their earnings into a pension, but most do not. They use excuses like, I can't afford it at the moment. Well, it's your future!

Answer 6

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Answer 8

Be responsible and take control of your money. Live below your means, increase your knowledge to increase your pay, learn about investing. Get on a monthly written budget and get out of debt.

Once you're out of debt, get 3-6 months of living expenses in the bank to deal with emergencies.

Now, invest at least 15% in pre-tax investments (401k, Roth IRA).

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Answer 9

They don't that is why the nation is in debt for billions.