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No savings at 50? I’d invest in UK shares to add to the State Pension and retire rich!

first_img Image source: Getty Images. Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has recommended Lloyds Banking Group. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Enter Your Email Address Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. FREE REPORT: Why this £5 stock could be set to surge See all posts by Royston Wild Royston Wild | Monday, 18th January, 2021 | More on: LLOY Simply click below to discover how you can take advantage of this.center_img Are you on the lookout for UK growth stocks?If so, get this FREE no-strings report now.While it’s available: you’ll discover what we think is a top growth stock for the decade ahead.And the performance of this company really is stunning.In 2019, it returned £150million to shareholders through buybacks and dividends.We believe its financial position is about as solid as anything we’ve seen.Since 2016, annual revenues increased 31%In March 2020, one of its senior directors LOADED UP on 25,000 shares – a position worth £90,259Operating cash flow is up 47%. (Even its operating margins are rising every year!)Quite simply, we believe it’s a fantastic Foolish growth pick.What’s more, it deserves your attention today.So please don’t wait another moment. The high cost of living in modern Britain means it can be hard to save or invest for retirement. Especially for those who’ve little-to-nothing stashed away for your later years.This is a whopping shame considering that citizens don’t have to invest vast sums to build a comfortable retirement with UK shares.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…According to Lloyds, a third of Britons don’t regularly save any money for their retirement or for a rainy day. Those nearing or in retirement are the worst culprits when it comes to NOT managing their money too. Around one in five over-55s told the FTSE 100 bank they don’t plan their finances at all.This is a particularly damaging situation, given the inadequacies of the State Pension. Pensioner poverty in the UK has ballooned over the past decade as benefits rises have failed to keep up with the soaring cost of social care. The rumoured scrapping of the ‘triple lock’ pension increase system following Covid-19 adds further reason for Britons to be concerned.Protecting your retirement with UK sharesThe scourge of pensioner poverty is a trap that many of us can avoid. Obviously, the earlier you grasp the nettle and begin retirement planning, the more time you have to build a handsome warchest. But the returns to by made by investing in UK shares means it’s never too late to begin.Let’s say you’re 50 years of age with nothing in the way of savings or investments, and plan to buy and then hold your UK shares for a minimum of 10 years. By the time you reach the State Pension age of 67 you can expect, with an investment of £600 a month, to have built a hefty nest egg of between £251,788 and £305,071.Buying after the stock market crashThose figures are based on data showing that long-term investors enjoy an average yearly return of 8-10%. But those who buy UK shares today have a chance to make even mightier returns over the next decade.This is because the 2020 stock market crash has left stacks of top-quality stocks trading at rock-bottom prices. These will rebound in price as the economic recovery really kicks in, corporate profits recover, and market confidence comes flooding back.Becoming an ISA millionaireThis very tactic made hundreds (if not thousands) of Stocks and Shares ISA investors million-pound shares portfolios in the last decade. They bought cheap UK shares following the 2007-2008 financial crisis and watched them boom in value during the 2010s.I’m not sitting on my hands and hoping the State Pension will support me in retirement. This is clearly a recipe of disaster as thousands of cash-strapped pensioners will attest. I’m carrying on buying UK shares in my ISA to get rich during the inevitable economic upturn.And The Motley Fool and its huge library of exclusive reports should help me on my quest. Our 6 ‘Best Buys Now’ Shares I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. No savings at 50? I’d invest in UK shares to add to the State Pension and retire rich! Get the full details on this £5 stock now – while your report is free.last_img read more