AD. When I was in my 20s my money never seemed to go far enough. I was always wanting to buy something, achieve something new or travel. Couple those things with job changes, renting a home with my husband for the first time and my pension never felt particularly important. As I reached my late 20s I started to have more available money, and think more long term about my finances. Now, as I start my 30s, I take my pension, and other savings, very seriously. I want to have money to retire and still enjoy my life. Like a lot of 30 somethings, I am looking forward to growing my family, buying our first home together and making changes to my career. I am self-employed, which means I need to make my own pension arrangements, however, I want to talk to you today about automatic enrolment, and what changes are coming this month.
AD. As I enter my 30s and begin to think about my long-term life goals my finances become more important than ever. Saving money, making extra money, cutting back, starting to invest and learning more about pensions are all really important to me now. Just 5 years ago we were in debt, and all of these things felt less important. Because we didn’t have much choice. However, making our money work hard is the key to a good life and I’m so glad I’ve learned this at a young age. Lots of my time is spent thinking about or boosting our finances. Today I want to share with you some of my hopes for our future – including planning for my retirement. Now I know you’re probably glazing over at the thought of retirement BUT there is no better time to start working on your plan than RIGHT NOW!
AD. This is a guest post by Paul Farrugia, Partner & Chartered Financial Planner at Equilibrium Asset Management.
Planning for the future is a concept that many young people tend to ignore, preferring to focus on the here and now. Creating financial safety can be hard work so while it’s understandable why some people sweep this under the rug, ignoring this can lead to financial worries later in life.
In a recent survey, Equilibrium Asset Management found that 81% of millennials – those aged in 2018 between 22 and 37 years old – don’t have an investment or pension goal in place. Failure to have this type of objective could actually leave young people out of pocket further down the line.
AD. Pensions. Boring, right?! I know in the past when someone has mentioned pensions I’ve just glazed over. However, I’m almost 30 now and I’ve been getting more serious about the future. Yes, the future. It seems so far away, retirement, relaxing, spending time with grandchildren etc. Now really IS the time to do something about securing your financial future. I kid you not. I know it can feel really daunting but getting a pension in place, and knowing that your financial future is going to benefit, is a really great feeling. Then maybe you can go back to glazing over at will! Today I want to talk to you about Profile Pensions, who offer straight-talking pension advice, and why I think you need a pension.