The Retirement Newsletter: Why are my pension pots so small?

Issue Number: -9 — Reflecting on my pension — why is it so complicated?

Photo by Author — when I was a millionaire

Welcome

Welcome to issue -9–18 weeks to go until my retirement.

This week, I ask — why are my pension pots so small, and why is it so complicated?

My pension journey

OK, first off, I would like to say that I am not a financial advisor. I am writing about what I have read over the years about money and preparing to retire. This is not financial advice.

My pension journey will be like many people’s in the UK — it started well, was easy to understand, and then became very complex. And I get suspicious of complex things, as I often think someone is trying to hide things.

Like all good stories or journeys, there is a beginning, a middle, and an end.

My pension journey — the beginning

Growing up in the UK in the 60s and 70s, I looked at my grandparents and was amazed that the government ‘gave’ them money — their pensions. It seemed odd that they were given so much ‘free’ money.

As I got older and started to understand the concept of a pension and the value of…