Effects of Compound Interest
The effects of compound interest are remarkable over 5, 15 or even 50 years if you start early enough. For example, at just 7.5% pa compound interest you will have achieved a 43% increase in your money after 5 years. After 15 years it will be worth 3 times your investment and after 50 years, a staggering 37 times your original investment. No matter how old you are you should be contributing towards your retirement.
Many people have switched their main retirement savings towards property (buy-to-let) and ISAs over the last few years. With the recent budget changes we believe every one of us should be relooking at our retirement savings arrangements as pensions are now a much more attractive and flexible savings vehicle than before.
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