In the pensions’ playing field one summer’s day a Grasshopper was enjoying the sun, chirping and singing to its heart’s content.
An Ant passed by, grin-and-bearing along with great toil the monthly contributions it was putting into its NESTegg.
“Why not come and drink with me,” said the Grasshopper. “instead of saving your money in that way?”
“I am helping to grow my money for future retirement,” said the Ant, “and advise you to do the same.”
“Why bother about retirement saving?” said the Grasshopper. “We have plenty of money at present.” But the Ant went on its way and continued to make its contributions.
When retirement came the Grasshopper had no pension pot and found itself queuing with other Grasshoppers at the job centre. They watched as the ants collected a regular income from the annuity they had bought with their NESTegg.
Then the Grasshopper knew: It was best to prepare for days of need when I had the means
[Please note that all opinions expressed in this blog are the author’s own and do not constitute investment advice. Click here for full disclaimer]