Coins in glass savings jar

Start saving for your retirement today

The old cliche “time flies” certainly rings true in many aspects of life, especially when it comes to your investment. There is no better day than the present, when it comes to sorting your long-term financial future.

Most experts say you should start putting money into a pension as soon as you begin earning, but unfortunately, that just isn’t the reality for many people who earn a modest salary. Credit cards, student debt, travel, food, rent – it often leaves one with not much, if anything, come their next payday.

It is common for an employer to offer a scheme which means, the more you put in, the more you get out. The schemes normally match your contributions. If you are thinking of staying put for awhile, we recommend choosing the highest possible option and findings ways to cut back on costs where and when possible. When doing your calculations, try and be realistic, don’t squeeze in the highest paid pension scheme by calculating down to your last penny; you need to allow for some leeway as emergencies are inevitable. Once you plan for some leeway, choose the highest pension scheme otherwise you are effectively turning down free money.

The golden rule is this, the earlier you start saving for your pension, the better. The later you leave it, the more you will have to fork out later on down the line.