Just an interesting note here. Very very good advice about pensions and saving for the future.
The idea is right, but the practical is a different issue. My accountant has for the last 5 years advised me against joining in a pension scheme, as the rewards at the end of it, based on current figures, have a more than even chance of not being worth what I paid in!!!!!
The insurance companies went through a period of mis-selling in the late 80's and early 90's. They are still paying off the fines and compensation awards, so if you plough your hard earned into a pension scheme then a lot of it goes in admin fees to pay these. Why the hell should I pay for someone elses screw up???
My accountant's current advice, and it is good, is invest in property. Buy a house, do it up, rent it out (not dss, the rate is too low). Do this over a period of time, buying more along the way, and end up with 10 or so houses, all paying for themselves. Although the price of property does goes up and down, over a long period, say 20 years, it will go up. When you retire, sell the lot at a huge profit and retire to the Costa Del Sol, simple!
Tin Hat on again!!!