That £24,000 would of course include a working lifetime of contributions to occupational pensions for those in employment and a working lifetime of contributions to personal pensions for the self employed.
Indeed, that has to be the only way of coming up with figures like that.
But there was always a glitch regarding the self-employed: one never
really knew what the hell one would be able to afford in a year or two's time. Long-term commitments were very dodgy deals, and it wasn't always possible to get pension plans that allowed you to up or down your contributions to suit fluctuating income, though I believe those are quite prevalent today, when it's too late. The thing is, in photography you're hot when you're hot - and you're not when you're not. Guess I never forgot that.
My accontant kept trying to get me to buy my cars on hire purchase, but I only let him talk me into it twice; every other time I stayed with what I had until I could sign a cheque and buy the thing there and then. It was a good discipline, but I still think I bought too many cars I didn't really need, other than to spend what would otherwise end up as tax. I disliked debt, and still do. I never sit on invoices, and settle everything right away, credit cards included. It's just how I happen to be.
Shares. I know enough about them from family experiences. Not for widows, old people hoping to leave something for ther kids, nor anyone else not prepared to lose the goddam lot in one night. Capital gains steals so much, and in the end I think the only people really making it work for them are the brokers themselves and the
very rich who have access to the advice that lets them move very quickly indeed.
So, yeah, there are no certainties.