Amanda Davidson is a director of Baigrie Davies, independent financial advisers

- Send a question to the experts
- Find an IFA in your area

I'm 35 and haven't been able to start a pension - I still have a mortgage on my flat which I'm paying but am nervous about having that as my only nest egg for my retirement. What would you recommend as the best way to catch up so I can build up a good retirement pot?
- RT, Manchester

Don't leave your pension planning any later RT or you will be working into your 70s!

Your home is only a nest egg for retirement if you plan to sell it, but then where would you live?

It may be possible to look at equity release schemes, but these work better for people in their 70s and 80s and that may be too late a retirement date for you. What is important is just to make a start - you can refine your strategy later on. If you are employed, do check on any work arrangements that may be available to you or ask if your employer would be prepared to pay into a pension.

A good start in terms of a plan is to choose a stakeholder plan where costs are capped and you have lots of flexibility to increase, take breaks from contributions and transfer funds without penalty.

Amanda Davidson
Email: Amanda.davidson@Baigriedavies.co.uk
Tel: 020 7786 2000