Time doesn’t stand still, and our lives are ticking along quietly. Although I’m willing the clock to tick faster in anticipation of the holidays (and the hoped-for relaxation), I’m also aware of getting older. In that spirit, I have done some pension planning and budgeting for freelancers with the help of MoneyHelper, a government-approved service providing impartial advice on money and pensions.
- First, I looked at my spending: https://www.moneyhelper.org.uk/en/everyday-money/budgeting/budget-planner
- Then, I invested some time in long-term planning by calculating my retirement pot: https://www.moneyhelper.org.uk/en/pensions-and-retirement/pensions-basics/pension-calculator
- Finally, I sat down to draw some conclusions. In a nutshell: 1) I should have started saving earlier. 2) My health is my biggest capital. I need to be in good shape to continue working and saving. 3) When the time comes, I plan to ease myself into retirement slowly by working part-time.
All in all, no earth-shuttering insights or discoveries for me, but it was good to think long-term. My long-held dream is to spend part of the year in warmer countries when I’m no longer dependent on school holidays. I’m not really cut out for grey and wet winters… As freelancers, we have more freedom about our choices, but also more responsibility to choose what is right for us. Although I don’t believe in future-proof choices, it’s useful to re-examine one’s priorities once in a while.
