Farley And Partners

Young adulthood

With University education complete and hopefully a job, now is the time to develop a plan that allows financial reality to be accommodated, including student debt repayment which is automatically deducted from salary or payable through self assessment. These are often also the years when it is time to make provision for the purchase of a car and to plan for the purchase of a home. While it is probably way down the list of any financial priority it is also the time to start investing for retirement, even though retirement is a long way off and the initial investment may be modest. A small sum put away now for retirement has much longer to grow.

Q: How much should be invested for my pension?

A: Does your employer yet have a pension scheme? It is important to seek advice, but 10% of gross income is normally considered an absolute minimum.

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