Are you ready for retirement?

You’re 33? 23? Have you had any thought at all about what you might do when the time comes to retire? Of course you haven’t, it’s another 30-40 years off, why would you want to be stressing about something that’s way off in the future?

You might even be the sort of person that lives for the now and retirement doesn’t even register.

Yes I know it’s depressing and we should live for today but I’m hoping I still have many days ahead of me and I’m going to need lots of pennies to fund my exciting retirement.

Basically it comes down to how much you can afford to save. As Tesco say,

‘Every little helps’

If you’re not exactly flush, I know that feeling, and you don’t have a lump sum to squirrel away, then it’s best to look at your options.

All workplaces, by 2018, will be required by law to provide a pension scheme for employees. There are criteria that must be met to be automatically enrolled, you can read more about it here www.gov.uk.

If you happen to be earning below the relevant contributions then you’re options will be limited. You won’t have a workplace pension (you can ask to be enrolled but your employer doesn’t have to contribute) and you may not have much spare to set up your own.

This is where you have to be frugal. Start with something, anything.

Some savings accounts need a certain amount of money to be opened but there are some out there that can be set up with smaller amounts. Martin Lewis’ website offers lots of money saving information and which accounts will be best for you.

Martin Lewis

Here are a few ways to get started:

• Car boot sale – they don’t seem to be the money making schemes they used to be but that all depends on what you’re selling and who your customers are that day.
• Music Magpie – How often do you watch those DVD’s that are cluttering up your home? Clear out some space and make some extra cash.
• Easier said than done but could you take a temporary second job, just to get you started.
• Are you creative? or have a skill? Use it to your advantage. Get some gardening jobs, paint or get crafty and sell your masterpieces.
• Look at where you could be saving money. Check through your bank statements, see what Direct Debits you could cancel. Do you really need Netflix and Amazon?

If all you can find right now is £5 a week, it’s better than nothing and you can set it up to pay directly in to your savings account, then just add whatever you can whenever you can.

Those small stacks of money will eventually make up huge piles of cash to invest in your future. Good luck and happy saving ♥