How to retire early with little money UK might well become a common question as people realise, they have little money but also tired of the 9 to 5. Let's face it; it's not uncommon to reach your 40s and think; "What another 25 years of this before I can retire!" So if you want to retire at all, let alone do it early with little money, you will need to undertake a few straightforward actions sooner than later.
Can I cash in my pension if made redundant – I don't work there anymore, and the money is mine, right?
You may be thinking I've had more jobs than hot dinners and can't remember who or what was going on at the time. How can I find my pension pots, I mean my pots of gold I seem to have left lying around?
Should I transfer my pension to my new employer? So you have moved on from one two or more jobs. Now, what should you do with this collection of small, medium and hopefully large pensions? You potentially have a number of options from doing nothing to merging them all together.
What happens to my pension when I leave a company? Does it gets shared out between the remaining “loyal” staff members?
What is the average pension in the UK? I know you want to know so that you can figure out if you are average or not. Let's say you have an average pension pot or even above average – what has this got to do with YOU?
The best way to save for your retirement in your 40s involves a few practical and behavioural actions. Understanding your current situation, sorting out your paperwork, defining what good looks like and automating your efforts are great places to start.