It’s not a pension. It’s your Financial Freedom Fund.

What feelings do the words “Pension” and “Retirement” invoke in you?

Boring? A long way off? Freedom? Confusion?!

The word ‘pension’ has been used to describe that pot of money somewhere in the background that your employer set up. Each month, you diligently contribute, and so does your employer. You receive some tax relief added too.

But have you ever looked inside or taken some more notice? For most people, the answer is a resounding ‘NO!’. If you have taken some action and engaged with your pension, congratulations! You’ve conquered the most challenging step, which is taking SOME action.

For many, the words pension and/or retirement stir up images of sitting on a deckchair on your porch or little old ladies popping to the post office for the day.

But it doesn’t have to be like that. Recently, I witnessed a discussion on Twitter where a suggestion was made to rename pensions. Who knows how serious they were, but the best alternative we saw was the ‘Financial Freedom Fund.’ But there are other options:

“Financial Independence Fund”

Or my suggestion:

“That pot you’ll use when you don’t fancy working anymore”?? Perhaps not…

But it got us thinking – what if we reframe the idea of pensions and retirement. What if, just for a moment, we think of retirement as this fabulous time where you stop trading your time for money. Instead, you use that money to truly fund the lifestyle you want. To really ‘live the dream.’ That dream might be kitesurfing off the coast of Cape Verde. Trekking up the Inca Trail to Machu Pichu. Playing golf every day, or perhaps just spending more valuable time with family and grandchildren.

What if, just for a moment, we really dream and remember we’ve only got one shot at life on this planet. What if we stop making pension and retirement such a boring subject, often filled with confusion and fear of the unknown. Why not get a plan in place to live life to the full! But don’t forget, life is happening now. Today. Never forget that and try to live, rather than exist, every day. We’re only here once, so enjoy the ride!

Instead of saving into a pension for retirement, what if we built that Financial Freedom Fund to live our dream lifestyle in the future?

So, next time that pension statement arrives through the door why not look inside? Why not discover where you’re invested and if you’re on track to living your dream lifestyle.

Contact Engage Wealth Management today if you need some help with this last point and want to plan your future. We’re ready to start building your dream lifestyle with you.

These are just some ramblings from a financial planner trying to help my clients achieve more from their money. I hope this blog entertained you for a few minutes of your day.

If you’re thinking about your own ‘retirement’ in the next 10-15 years, contact us today on 01273 076587 or email hello@engagewm.co.uk

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