How to build a comfortable nest egg for retirement


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The average age of retirement is around 64.2 years for men and 63.5 years for women. And despite the cost of living increasing across Europe, many are looking towards their retirement and are beginning to build up that all-important nest egg.

A nest egg is another term for a retirement fund, and with many people around the world subscribing to the ‘financial independence retire early’ (FIRE) movement, more and more people are understanding the importance of saving for retirement.

If you’re looking to build a comfortable nest egg for retirement, there’s a few things you’ll need to start doing.

Set up a retirement savings account

Although many governments provide some funding for pensioners, it’s often not enough to live comfortably. The earlier you start paying into a retirement savings account the greater the compound interest you’ll receive annually – which means, you’ll end up with more money in your bank when you need to use it.

Create a budget

Before you start squirreling away you’re income, you should create a budget – that you’re able to stick to, but make sure that it’s flexible enough that it too can adapt to your changing circumstances.

The secret to creating a nest egg budget is to think about the type of retirement you want. The more comfortably you want to live, the more you’ll need to save. You should start by saving around 10 -15% of your income for retirement.


Depending on the timescale you have in mind for retirement will depend on the types of investing you want to pursue. Forex trading is great if you’re looking for high risk, with high rewards, whilst property is a safer but more long-term investment.

You should always speak to a financial advisor before investing, as they’ll be able to create a plan that could help create a comfortable nest egg.

Don’t live beyond your means

If you’re constantly having to use credit or take out loans to pay for material things, you’re living beyond your means. When you reach retirement age and you no longer have a steady income, you won’t be able to repay those debts.

Changing your habits now and living frugally will help you build your nest egg, and can help take away some of the financial stress that comes with amassing debt.

Pay off your debts

Whether it’s a mortgage, loan, or credit card, start by paying off all your debts. Once you’re debt free, you should use the money you were using to pay interest on your debts and put it towards your nest egg instead.

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