Taking charge of your own finances

Retirement will be no fun without enough money to enjoy it. Unfortunately most of us are being kicked out of our company's defined benefit funds, can't rely too much on the government for help, don't understand the defined contribution funds we've been put into and are not saving enough anyway. To make matters worse we are being ripped off by a savings and retirement industry that is skimming of the top of our investment returns while giving us very little good advice or value.
This blog contains some of my thoughts on taking control of retirement and pension savings. It will look at ways of cutting costs by using cheap online stockbrokers and share dealing combined with cheap index funds and Exchange Traded Funds (ETFs) to build diversified portfolios. This is a work in progress so I welcome your thoughts.

Thursday, December 10, 2009

The importance of starting to save sooner rather than later

Probably the most important decision towards trying to take control of your retirement is to start saving sooner rather than later. Here's a link to a piece I wrote on a different forum about how compounding returns mean that the sooner you start saving, the less you will have to put aside. You can read it at: Retirement made easy: How soon should I start saving?

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