After several years of struggling through tax returns and fretting about my finances, this year I’m determined to learn more. To date, I have adopted the ostrich approach to financial planning, which is perhaps not the most sensible. (Although there is possibly a joke about nest eggs to be found somewhere??)
One of the terrors of freelancing is the feast or famine financial approach. This is shadowed by the need to set up and manage pensions and investments. As I am relatively early on in my career, I was delaying all of this. I figured I could worry about it once I was established and had regular income and a mortgage and grown up stuff.
Then I watched this TedX video by Alexa von Tobel:
The slide that made me squeak the most was this one:
(Photo via LearnVest)
The difference between an Early and Late Saver is huge! I have already started daydreaming about retirement (it involves a village on the Med) and didn’t really realise that I need to start saving for it now. While looking for the image above, I discovered LearnVest have revamped their website and it looks great – lots of resources and advice.
In light of this, yesterday I bought two books on pension and investment planning that were well reviewed on Amazon.The first is Pensions Explained: A Complete Guide to Saving for Your Retirement by Jonquil Lowe. And the second is FT Guide to Pensions and Wealth in Retirement by John Greenwood. I never thought I would look forward to reading books about pensions, but when they arrived a little while ago I had a quick skim through. Look like they’re going to be very useful guides!
Will report back on progress of Operation Financial Security at a later date…